Not enough data to answer this.
Hi,
I hadn’t come across SNUTX before, and it seems to be a very new exchange. That in itself is a bit of a red flag, as many scams tend to be recent launches.
However, a clear red flag is that they claim to be regulated by the SEC on their website, but I couldn’t verify this through official sources. Unfortunately, some platforms make false regulatory claims to appear legitimate.
Based on these concerns, I believe SNUTX is a scam. Please always stick with well-known, properly regulated exchanges/brokers instead.
If you’re looking for regulated crypto brokers, you can find them here: https://brokerchooser.com/best-brokers/best-crypto-brokers.
Best wishes,
Andris
Hi Andris,
thanks for your fast reply.
I found this:
https://www.sec.gov/Archives/edgar/data/2041315/000204131524000001/0002041315-24-000001-index.htm
Hi there,
I understand there’s some confusion regarding SnutX’s regulatory status. Let’s clarify:
SEC Registration: SnutX Transaction Services Ltd has a filing with the U.S. Securities and Exchange Commission (SEC) under the Central Index Key (CIK) number 0002041315 (SEC Database). This filing appears to be a Form D, which companies submit when claiming an exemption from full SEC registration for certain securities offerings. It’s important to note that filing a Form D does not equate to being a fully registered or regulated entity by the SEC. It simply indicates that the company has made a notice filing for an exempt offering.
Also, Germany’s financial watchdog, BaFin, has issued a warning about SnutX, stating that they might be offering financial services without proper authorisation (BaFin Warning).
Given all this, I’d stay far away. Always verify brokers through official regulatory sites before depositing any money.
Best,
Samuel