Bitex is a crypto exchange operated by Bitex Technologies India Pvt Ltd in Mumbai, India, and has a 2-star rating on Trustpilot with a “Poor” Trust level. The reviewers point out that the Bitex platform belongs to Coin Capital Group and would be a scam. Bitex CEO Monark Modi (LinkedIn) is apparently based in Dubai.

According to the FCA, the CCG scam is related to the Bitex Trader a/k/a Bitex crypto scheme (www.bitextrader.com, www.bitex.com, and www.bitex.trade). Reviews on TrustPilot also confirm this. Currently, potential victims can only lose their money to the scam via Bitcoins.

Bitex is allegedly related to Coin Capital Group (www.ccg.trade), a broker scam.