Brexily doesn’t let its users withdraw their funds. It’s essentially an MLM scam mixed disguised as a crypto trading platform
Brexily claims to be a trading platform that caters to new crypto traders. All the while they are running a scam.
If you are reading this, then chances are you have seen an advertisement from Brexily and want to know whether they are the real deal. Well, if you don’t have time to read through this whole report, then I’ll leave you with this; avoid Brexily. These guys can potentially ruin your finances. They just want to steal money from as many people as possible.
In this Brexily review, we will take a look at how this scam operates, the faces behind it, and how we can put a stop to this Ponzi scheme. I won’t waste anyone’s time with an unnecessarily long introduction, so let’s just dive right in.
What is Brexily?
Brexily is a platform where you can trade cryptocurrencies. On their “About Us” page, Brexily claims to be targeting mass crypto adopters (this is an important note which we’ll break down later in the review).
They are mainly popular for their bizzare rewards and offers, they offer up to 80% cahsback at particular times, which is basically unreal.
Brexily is owned and managed under Everus.
The man behind all of this is Mr. Srinivas Oddati.
Brexily hosts a lot of giveaway-type ordeals and markets them to new crypto traders. As we’ll see later in the article, some of their offers and claims are plain unrealistic and they don’t add up at all.
According to their ToS page, Brexily offers services which allow their users to exchange one type of asset with another. Its quite honestly a barebones explanation of what they actually do, but for now it should do.
Srinivas Oddati: Mastermind Behind This Crypto Syndicate
Srinivas Oddati is the CEO and founder of Brexily & Everus (Brexily’s parent company). He seems to have a very narcissistic attitude which becomes visible when you visit Mr. Oddati’s official Facebook page.
Mr. Oddati has obviously run paid Facebook ads in order to get likes and followers on his profile as his posts don’t have a consistent following, but that’s not what we’re here to talk about.
The only reference of Mr. Oddati being the owner of Brexily is on the About page of the website. That’s it. Something tells me that Srinivas doesn’t want most of his customers to know about the mastermind behind Brexily, however, due to his ego and narcissism, Oddati couldn’t help but throw his name on the website.
Owners and executives of such crypto scams often choose to stay anonymous, however, some founders want to show off their faces and give Sponsered interviews where a sorry journalist licks their boots. Mogul Productions is a good example of such an operation.
Oddati’s Craze For Fame: Nikki Productions
If you thought this India based extrovert was only in the crypto industry then you are in for a weird surprise.
Srinivas Oddati is also the founder of a low-budget Indian video production company called “Nikki Productions”.
It would be a very big understatement to say that Nikki Productions have some weird and cringeworthy content on their channel.
Is Nikki Productions successful? No. But that doesn’t stop Oddati from boasting about this failed enterprise on his social media handles. While Nikki Productions Facebook page has not posted anything since 2015, Brexily on the other hand has been quite active on its social media handles. We will talk about it later in this report.
Believe it or not, Srinivas Oddati is also in the business of importing and exporting goods.
OM Import & Export: Anonymous (Non-Existent)
A quick Google search for the term “OM Import & Export” seems to reveal that there are multiple companies with the name Om Import & Export and none of them have any association with Mr. Oddati.
And even after doing a thorough search through different databases, I was unable to find any mention of this company anywhere except on Srinivas’s own Facebook page.
It is possible that this Import & Export venture might be a front for his other scams, however, it is only a speculation. I’ll keep looking into it and see if something comes up, but for now, enough talk about this narcissist, let’s move on to Brexily.
Brexily’s Hidden Disclaimers: Taking Advantage Of Innocent Crypto Traders
Legal teams of every company do everything they can to make the Terms Of Service document as long and as complicated as possible. At this point it is a running joke for ToS pages to be long. Jokes aside, it is a grave issue.
By hiding the link to the disclaimer page and the ToS page, companies like Brexily get a major advantage in legal battles against their victims. It also helps them terminate accounts, take funds, and do all sorts of shady activity without consequences.
In the case of online scams, disclaimers are extremely dangerous as they are deliberately made invisible or difficult to access for most people. Unless you specifically look for the disclaimer page, chances are you’ll never even click on it.
I’m not going to lie, Brexily’s Terms Of Service page was not a fun read, but for the sake of this investigation, I read it anyways. And I found some very interesting pieces of text here. It might seem a little tedious to read this section as it covers the more legal side of the company, but I strongly suggest that you conjure up the willpower and read through it, it will be worth it.
All of the screenshots below are taken from Brexily’s website.
Claims Crypto Isn’t An Investment, But Market Themselves As An Money Making Machine
This is the most dumb disclaimer I’ve seen anywhere on any website. Brexily claims that Cryptocurrencies isn’t an “official or legally binded investment”. But this is plain false.
While there is a small minority of countries which for some wild reason consider crypto currencies like Bitcoin to be illegal. The countries where Brexily is marketing their services and offerings are not one of such countries. And most of the countries with good quality internet connections have no issues with crypto currencies.
I have an issue with the statement “Cryptocurrencies are not an investment”.
It is put there in order to avoid any lawsuits regarding the SEC or FINRA. The executives at Brexily seem to know exactly which entities to avoid in order to succesfully operate their scam.
Here’s somethign more bizzare. While Brexily claims that crypto isn’t an investment, their paid affiliate marketers promote Brexily as an amazing money making oppertunity (or in other words, an investment).
This disclaimer is only put in place to avoid the strict restrictions that an actual investment company has to follow. If Brexily was a regulated, they wouldn’t be able to get away with stealing their clients’ funds and then shunning them from their website.
Let’s move on to the next disclaimer which I found to be scummy.
Brexily Isn’t Responsible For The Results You Get, But They Market Unrealistic Cashbacks
This paragraph is an eyesore, so you don’t have to read through it, I’ve done the dirty work for you. It essentially states that if you face any losses direct or indirect which are in any way connected with Brexily, then they are not responsible for the damages.
While every investment company in the world would like for this to be true, that’s just not how the real world works. If a client who uses an investment portal loses thousands of dollars because of Brexily’s cheap servers, then Brexily should be held responsible for the damages caused.
They’ve put this in place so if you lose any money through Brexily then you can’t file a lawsuit or file a complaint to the SEC.
Every Loss Is Permanent and Uninsured
This particular one is more of an issue of cryptocurrencies in general as opposed to with Brexily.
While you can get a 3000% return if Elon Musk someday Tweets about the meme crypto currency you were trading in, it is a risky endevour.
Unlike some of the more traditional investments, crypto is not insured by any regulated company. So if you are not ready to lose it, don’t invest it in crypto.
Brexily Rewards & CashBacks: The Math Doesn’t Add Up
Brexily gets people to sign up for their service through these “reward” campaigns, where they claim to give away $25,000-$100,000. That’s not all, they also take zero fees.
At first glance it seems as if Brexily is a selfless company which just wants to give away money to random people who use their platform, however, things get really ugly once we take a closer look.
If Brexily doesn’t take fees, doesn’t have any premium accounts or monthly subscriptions, how are they actually making money let alone make a profit?
Well the answer is horrible but quite simple, Brexily makes money through scamming people.
They convince their users to add hundreds of dollars to their “Brexily wallet” and then once they do, Brexily simply doesn’t give the money back.
If you’re wondering if this is the first instance of them offering unrealistic rewards, then I have some news for you.
They have offered an 80% cashback on trading fees through referrals while also offering 10T for just signing up and 50T for depositing $500 USD.
All of these rewards attract naive and new crypto traders like flies. And that is the exact audience that Brexily wants to get. Because any experience crypto trader will get wise to their scam and expose them in their community.
Brexily Reviews & Complaints: It Gets Uglier
By now we know that Brexily isn’t a legitimate operation, but now we will take a look at what other people are saying about this platform.
Spoiler Alert: It’s bad and probably worse than you expect.
I have compiled all the reviews I could find down below.
Safdar Hassan simply calls Brexily cheaters. And this review was posted just a week ago. Presumably Mr. Hassan deposited a sum of money on the platform and then they got duped. As we will see in the later reviews, it is a common theme for the Brexily victims.
Michael Bjorn calls it a Crypto MLM Scam, which is honestly a good summary of this operation.
They had way to many reviews on Trustpilot so I just compiled all of them in an archive above.
All the reviews state that Brexily offered the user great rewards but once the user deposited the funds, Brexily froze the account and stole the money.
I just felt second-hand guilt for these poor people. It’s fascinating how Srinivas can sleep at night knowing how he is ruining lives to get millions.
This was an intersting site to look at, I saw some eye opening reviews here as well. Just like I did with Trustpilot, I’ve attached the screenshots of the users submitted reviews above.
The users exclaim that Brexily is a Pyramid scheme, one even went ahead and claimed it won’t last more than 6 months.
Help Take Down This Crypto Scam
After spending hours on this report I realized how nasty the Brexily scam actually is. If you have been scammed by Brexily, then please post a review down below. It will not only help potential targets of this scam, but might also help you get a refund from Brexily.
Operations like these really don’t like it when their victims speak up. So use your power of freeodm of speech and help take down this scam once and for all.
You can also report them on the FTC, however, it usually takes them a long time to process such complaints as they are a busy bunch. They’ve been taking down scammers left and right (check out this report on Dean Graziosi for an example).
Brexily is a crypto scam targeting new traders. They offer luring and unrealistic rewards to attract customers and once the customer deposits money, they don’t let them withdraw. Do not fall for their marketing tricks or paid affiliate articles.