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Alert: Caution Advised Regarding Gerald Check’s New Crypto Scheme – 20Exchange (20EX)

FinTelegram issues red compliance rating against 20EX crypto scheme
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FinTelegram issues a stark warning and an urgent call for information regarding the newly launched 20Exchange (20EX), a crypto scheme spearheaded by Gerald Check, a key figure linked to the blacklisted L7 DEX crypto MLM scheme. Given the emerging pattern of dubious crypto schemes and the lack of transparency surrounding 20EX, we advise potential investors to exercise extreme caution. Stay informed, stay vigilant.

Background: The Rise of 20EX Amid Crypto Resurgence

L7 DEX advisor and 20EX founder Gerald Check
20EX founder Gerald Check

In the wake of the crypto market’s revival in 2023, there’s been a notable increase in crypto MLM schemes. Following our recent advisory against L7 DEX, attention has now turned to 20Exchange (20EX), another venture associated with Gerald Check (LinkedIn profile), reportedly based in Singapore. Despite its nascent stage, 20EX has already landed on our red compliance list due to regulatory concerns.

Read our L7 DEX reports here.

20EX, as portrayed in press releases and promotional articles, is presented as a multifaceted cross-chain trading platform boasting an innovative protocol for trading inscription tokens like ORDI and BRC-20. The platform claims to aggregate liquidity across various blockchain networks, ostensibly enhancing the trading experience. Check, who has a history with L7 DEX and a stint at Binance, heralds 20EX as a major step in community-led crypto initiatives.

20EX‘s promotional material touts an airdrop program for BRC-20 token holders and governance participation for 20EX token holders. However, the platform’s lack of regulatory registration and absence of operator or jurisdictional information are significant red flags.

Compliance Check

Gerald Check‘s involvement in the blacklisted L7 DEX and his pivot to 20EX raises serious questions about the legitimacy of this new venture. His optimistic view of the crypto market, particularly inscription tokens, needs to be weighed against his track record in the industry.

The absence of critical details on the 20Exchange website and its lack of regulatory oversight mark it as a red flag scheme. Moreover, the scheme’s page on Medium is reportedly under investigation, adding to the growing concerns.

20Exchange Key Data

Trading names20Exchange
20EX
Domainhttps://20ex.io
Social MediaX, LinkedIn
Legal entitynot disclosed
Jurisdictionnot disclosed
Authorizationno
Related individualsGerald Check (LinkedIn)
Connected schemesL7 DEX
Compliance ratingRed

Call for Whistleblower Insights

To better understand and evaluate 20Exchange (20EX), we encourage whistleblowers with any knowledge of its operations, affiliations, or practices to come forward. Your information could be vital in helping us uncover the truth behind 20EX. Please contact us via our Whistle42 system to share any relevant details.

CategoriesRed Compliance

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