Another fraudulent platform has appeared on the crypto market — UltimumTrade. This website lures victims in with impressive but utterly unrealistic figures. On its homepage, the exchange proudly claims to have 150,000 active traders and a total trading volume of a colossal $2.8 billion. However, the domain itself is only a couple of months old. Obviously, building such an audience and turnover in that amount of time is absolutely impossible — it's a classic trick for creating false authority.

Another red flag is the suspiciously successful "community leader" with a profile under the name Alertia Mars. The platform credits him with 69.6 thousand followers and an impressive 54.81% winning trade rate. But here's the catch: the button linking to this profile on the website is inactive. I decided to look into this trader, but a search on Instagram and X (formerly Twitter) yields absolutely no results — such a person simply doesn't exist on social media.

The essence of the scheme is completely transparent: the exchange paints pretty statistics and invents successful traders to lull newcomers into a false sense of security. The main rule of this platform is that you can easily deposit funds into your account, but you will never get your money back out. If you come across UltimumTrade, steer clear of this fake website and under no circumstances trust them with your savings.