The world of cryptocurrency promises exciting opportunities, but it’s also full of risks, especially when it comes to new trading apps claiming high profits. One platform that has recently gained attention is BuddyX Crypto App, which advertises AI-powered trading, social trading features, and its own token, BDYX.
With promises of fast, easy profits, it may seem tempting for investors looking to grow their money quickly.
But appearances can be deceiving. Before investing, it’s important to ask: is BuddyX really safe, or is it another risky scheme waiting to collapse?
In this blog, we break down how BuddyX operates, the red flags to watch for, and what you should do if you encounter suspicious crypto platforms.
BuddyX Crypto App Safe or Not
BuddyX markets itself as a modern crypto trading app with features like AI-powered trading bots, social trading, and its own token, BDYX. The platform claims:
- AI Trading Bots and Social Trading: Automated trading and the ability to copy profitable trades from other users.
- High Returns Promised: Users are promised unusually high profits in short periods, sometimes as much as 10–20% monthly.
- BDYX Token: Claimed to have strong growth potential.
- Easy Withdrawals: Assures quick, hassle-free fund withdrawals.
While these claims may seem attractive, a deeper look raises serious concerns.
Founder and Past History
BuddyX is operated by Mahesh Sharma, a figure linked to multiple suspicious investment platforms.
His name appears in connection with ventures like BuddyEx, Intellexa, BuddyCorp, and BuddyDex. Each of these platforms followed a similar pattern: promising high returns, later collapsing, and leaving investors with substantial losses.
Frequent rebranding appears to be a tactic to continue operations while distancing the platform from complaints and regulatory attention. This pattern makes the legitimacy of BuddyX highly questionable.
BuddyX Crypto App Risks
A deeper look at BuddyX reveals several red flags:
- Unregistered and Unregulated: The platform has no approval in India or internationally.
- Ponzi Scheme Traits: Returns seem to come from new investor deposits rather than real trading profits.
- Unrealistic Returns: Guaranteed high profits with no risk are a major warning sign.
- Founder’s History: Mahesh Sharma has a track record of similar schemes.
- Token Value: BDYX has negligible real-world market value.
Considering these factors, it’s clear that BuddyX Crypto App is not a safe investment.
BuddyX Red Flags
If you detect follow flags then the app is most likely a scam, and staying cautious helps you avoid crypto scams:
- BuddyX claims AI trading, high returns, and its own token, BDYX, but early payouts are often funded by new investors rather than real trading profits.
- The platform encourages users to recruit others, offering bonuses or higher returns, creating a continuous inflow of funds to sustain payouts.
- Operations are opaque, with no verifiable audits, trading reports, or financial statements, making it impossible to confirm if real trades are occurring.
- Founder Mahesh Sharma has a history of running similar platforms—BuddyEx, Intellexa, BuddyCorp, and BuddyDex—that were frequently rebranded to evade scrutiny.
- BuddyX is unregistered and unregulated in India and internationally, yet it promises unrealistic, guaranteed returns.
- The BDYX token has negligible real-world market value, making profits from it unlikely.
- Investors often face withdrawal issues, including delays or blocked transactions, and the platform collapses once new investment slows, leaving most users with significant losses.
- Combined, these factors—opaque operations, recruitment-based payouts, rebranding, unrealistic promises, and regulatory noncompliance—make BuddyX extremely risky for investors.
How to Report Fake Crypto Trading Apps in India
If you suspect a crypto trading app like BuddyX is a scam or have already invested, it’s crucial to report it to protect yourself and others. Here’s how you file cryptocurrency complaints in India:
- File a complaint in SEBI:
- File a complaint with the Securities and Exchange Board of India (SEBI) by sending an email
- Provide details such as app name, website, transactions, and communication records.
- File a cyber crime complaint:
- Contact your local cybercrime police station or file an online complaint via your state’s cybercrime portal.
- Include all evidence, such as screenshots, emails, chat messages, and bank or crypto transaction records.
- Notify Your Bank or Payment Provider:
- Inform your bank or payment service if you transferred money to the platform. They may be able to freeze or trace transactions.
Need Help?
Register with us and get assistance reporting the BuddyX crypto app or other similar scams. Contact us, and we’ll guide you through preparing and documenting your complaint.
Conclusion
BuddyX Crypto App is not safe. Operated by Mahesh Sharma, it exhibits classic Ponzi scheme traits, early payouts funded by new investors, recruitment-based rewards, opaque operations, and frequent rebranding to avoid scrutiny.
The platform is unregistered and unregulated in India and abroad, while its BDYX token has little real-world value.
Investors should stay cautious, avoid investing in such platforms, and report any suspicious activity to authorities like SEBI or local cybercrime units. Educating yourself and others is key—if it sounds too good to be true, it probably is.
