Enkuu Scam Review: Avoid This Unlicensed Broker

Enkuu, established in July 2021, is not a legitimate cryptocurrency exchange. This review highlights the red flags and potential risks associated with this platform, urging investors to exercise caution.

Is Enkuu Legit or Scam?

Enkuu is a scam broker. Here’s why:

• Unregulated and Anonymous: Enkuu lacks any regulatory licenses from reputable authorities like the Financial Conduct Authority (FCA) or Application Specific Integrated Circuits ASIC. This raises serious concerns about its legitimacy and potential for fraudulent activities.
• Exorbitant Returns Promise: Enkuu advertises unrealistic daily returns of 1.8% to 2% on staking and other services. Such guarantees are often hallmarks of scams.
• Limited Information: Enkuu’s website lacks transparency regarding its founders, headquarters, and legal documents. This secrecy is a major red flag.

Company Overview

Services or Products

Enkuu offers the following services:

• Cryptocurrency Trading: Trade Bitcoin (BTC), Bitcoin Cash (BCH), and Tether (USDT).
• NFT Trading: Trade limited NFTs like Gucci Ghost, Bored Ape, and Nyan Cat.
• Staking: Earn daily returns on USDT deposits (1.8% – 2%).
• Mining: Unclear details about mining services.
• Coin Transfer: Transfer USDT between accounts.

If you have lost money to companies like ACY Securities, or EATradingCenter please report it to us on our report a scam form.

Trading Platform & Leverages

Enkuu only offers a web-based trading platform (WebTrader) with limited features. No information is available about leverage options or mobile app availability.

Spreads and Cost of Trading

Enkuu lacks transparency regarding its trading fees, spreads, and other associated costs. This lack of information makes it impossible to accurately assess the true cost of trading on this platform.

License and Regulations

Enkuu operates without any regulatory licenses. This means:

• No Investor Protection: Investors have no legal recourse in case of fraud or disputes.
• High Risk of Manipulation: Enkuu can manipulate prices and trading conditions without any oversight.
• Potential for Fund Loss: Investors risk losing their entire investment due to the platform’s unregulated nature.

Legal Warning Against Enkuu

Enkuu’s lack of regulation exposes investors to significant risks. We strongly advise against using this platform and recommend seeking legitimate, licensed cryptocurrency exchanges instead.

Deposit and Withdrawal Methods

Enkuu primarily uses Tether (USDT) for deposits and withdrawals. It’s unclear if fiat currencies are supported. This raises concerns about converting digital assets to traditional cash.

Enkuu Pros and Cons

Why Dealing With An Unlicensed Broker Is Risky

Unlicensed brokers like Enkuu pose significant risks for investors:

• Lack of Investor Protection: No regulatory body oversees their activities, leaving investors vulnerable to fraud and manipulation.
• Potential for Fund Loss: Unregulated platforms can easily disappear with investor funds, resulting in significant financial losses.
• Limited Legal Options: In case of disputes or scams, investors have limited legal recourse due to the lack of regulatory oversight.

Client Feedback

While limited information is available on client experiences, the lack of regulation and red flags suggest a high risk of negative feedback.

How Can “ReviewsAdvice” Help You If You Get Scammed?

Unfortunately, “ReviewsAdvice” cannot directly assist with recovering funds lost due to scams. However, we can provide resources and information to help you understand your options:

• Report the scam to relevant authorities: File a complaint with financial regulators and law enforcement agencies.
• Seek legal advice: Consult with an attorney specializing in financial fraud to explore potential legal recourse.
• Educate yourself and others: Share your experience to help warn others about potential scams.

We will provide you recovery service recommendations, which will help you in recovering the lost funds or you can report to us today by the below form.