Business ProfileforQDEXTrade.com

On November 8, 2023, the BBB began its investigation after finding this website to be a possible scam website, QDEXTrade.com https://www.bbb.org/us/tx/texarkana/profile/cryptocurrency-exchange/qdextradecom-1015-233028290. The address used, 4251 Summerhill Rd, Texarkana, TX 75503, has been confirmed as non-existent by the local post office. The BBB has found that this business is running a Fake Trading Exchange Scam. The BBB has made several attempts to contact the business at this time we have not heard back from the business.

Cryptocurrencies are not legal tender in any jurisdiction; they, unlike the conventional currencies issued by a monetary authority, are not controlled or regulated and their price is determined by the supply and demand of their market.

Virtual currencies, such as Bitcoin, have been determined to be commodities under the Commodity Exchange Act (CEA). The U.S. Commodity Futures Trading Commission's (CFTC) jurisdiction is implicated when a virtual currency is used in a derivatives contract, or if there is fraud or manipulation involving a virtual currency traded in interstate commerce.

Cryptocurrency scams occur when the virtual coins are purchased from, traded by, or stored with a person or exchange site that turns out to be fraudulent. Sometimes these digital assets are purchased as part of a fraudulent Initial Coin Offering (ICO), in which investors are scammed into paying money or trading digital assets for a company or product that never materializes.

On Feburary 9, 2024, the BBB completed its investigation, the BBB has made several attempts to contact the business at this time we have not heard back from the business. The BBB has reported the fraud and other suspicious activity involving cryptocurrency to FBI Internet Crimes Division (IC3).