Is Loopring.cc a Scam?

Scam Broker Check 🛡️
1

I’m here to find out if Loopring is legitimate.
https://www.loopring.cc/index.html

Thanks for your help.

2

Yes unfortunately, the download button do not work and index.html is a huge sellout.

1 Like
3

Thanks for the prompt reply. And thanks for confirming that Loopring.cc (CC) is a scam site and not associated with Loopring.io (IO).

What do you mean by index.html is a huge sellout? Is there something you noticed in the HTML code?

I’d like to share some additional info that users here might find useful.

I checked with IO on their Discord channel (which can be accessed at the bottom of the page on their website). They have reported that they are not associated with CC, and that is very likely a scam site. See the attached screenshot of the discussion on Discord.

I had done some initial research on this site and noticed that they provide download buttons for Android and Apple phone apps. The misleading part is that they show the downloads with Apple Store and Google Play logos at the bottom of the home page. The links work but the links do not go to those sites. I’m not sure about the Apple Store, but the link takes the user to download something called “Testflight” first. I have an Android phone and that link goes to a download location on Amazon Web Servers. It is misleading to use those logos while sending the user to another download location. And I confirmed that the Loopring app for Android is not on the Google Play store. A search of Loopring on Google Play only brings up an app related to Loopring.io.

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4

Hey there,

Thank you for your message. I’ve looked into this provider and I believe it’s a scam. Please do not use them as your broker.

The reasons are the following:

  • First of all, Loopring.cc is not regulated at all. This is a major red flag because it unregulated brokers lack oversight from financial authorities, making it more susceptible to fraud, lack of transparency, and inadequate protection for your funds.
  • Secondly, certain mandatory information are suspiciously vague and short on their website, such as privacy policy, risk disclosure and customer agreement etc. While these outline common terms in financial services, the lack of clarity on some operational aspects and the broad disclaimers regarding risk are potential red flags.
  • Lastly, the URL pattern of the website is rather unusual for a legit financial service providers as they typically use more standardized, professional domains with recognizable security indicators (like “https://”). A URL that looks unusual, lacks proper SSL certification, or redirects in unexpected ways can be a red flag, as it may indicate a website is either fraudulent or insecure.

Given these concerns I advise against using Loopring.cc.

If you’re looking for reliable and regulated brokers, you can find them here: https://brokerchooser.com/broker-reviews.

Please let me know, if you have any questions.

Kind regards,
Andris

1 Like
5

Hi Andris,

Thanks for chiming in to this discussion. I’m still wondering what Lisa meant when she said, “What do you mean by index.html is a huge sellout?”

BTW, at the bottom of the loopring.cc website they have links to privacy policy, risk disclosure and customer agreement. It doesn’t prove anything though.

Thanks

6

Hey,

I believe when Lisa said “index.html” she referred to the main or default HTML file of the website, which serves as the entry point when someone visits the site’s URL. It’s typically used to load the website’s core content and structure. Now if you take a look at the URL (www.loopring.cc/index.html), it’s not secure as it’s not using the http:// format and also it’s quite unusual for legit companies to use the index-html format at the end. Combined with the non-functional download button Lisa mentioned, it raises further suspicions about the reliability of this website.

Regarding the links at the bottom of their website, although they are indeed present, these documents appear vague and overly simplistic. Official documents from legitimate brokers typically span numerous pages, providing extensive details to ensure compliance and transparency. It seems like the brief and low-quality content of these documents are designed merely to give the appearance of legitimacy rather than serve as comprehensive legal and regulatory instruments.

Please let me know if you have any questions.

Best,
Andris

2 Likes
7

Yes, exactly what i meant. Thanks.

2 Likes