Koneoy review – A copycat SCAM, stay away!

Koneoy review

In this review we warn against the Koneoy cryptocurrency exchange scam and we explain why you have to avoid it.

What is Koneoy

Koneoy is a cryptocurrency exchange that offers multiple services related to blockchains. You can trade digital tokens like Bitcoin or Ethereum, you can buy new cryptocurrencies within initial coin offerings (ICO), you can mine and stake crypto tokens.

Koneoy claims to be headquartered in the United Stats and to have offices in Japan, South Korea and Hong Kong.

The question is: Is Koneoy a legit exchange that you should use to invest your money?

Koneoy is a scam

Upon a quick inspection we realized that Koneoy is a carbon copy of the Sunony scam. Their websites are exactly the same.

Both exchanges offer the same services and promise the same thing. That in itself is already a proof that Koneoy is a fraudulent platform.

Koneoy cloned scam

Unknown exchange

Koneoy claims to be an established exchange based in the US and with offices all over the world. But that is not true.

Established exchanges are listed on crypto monitoring websites like Coinmarketcap.com, but Koneoy is not.

In fact, koneoy.com was first registered on July 27, 2022, so in reality the exchange is not even 2 weeks old! This goes to show that all the claims about an established exchange with offices all over the world are lies.

Unknown exchange

No reserve fund

Koneoy wants you to believe that it is a secure exchange not only because it has a 20,000 BTC reserve fund. But that is a lie.

The exchange has no 20,000 BTC reserve fund that could be used if an incident occurs and cryptocurrencies are lost.

Such a fund would be roughly worth half a billion dollars. So, no, Koneoy does not have it.

No reserve fund

Dangerous iOS app

In a typical fraud fashion, Koneoy could not have their iOS app approved by Apple, so instead, they want you to download and install a profile on your Apple device.

Don’t do it, it is dangerous and scammers could gain partial control of your mobile device and steal your money.

ICOs, staking and mining

To get an account on Koneoy, you need a referral code. Which is a red flag by itself, because what legit exchange does not allow people to sign up without being referred by someone?

This is also what prevented us to fully explore all the services that are being offered. But since Koneoy is a mere copy of Sunony, we can guess what’s on the table.

We expect unrealistic and unsustainable returns, like 10% or more per month form crypto staking and mining. If you see such numbers with Koneoy, you get another confirmation that it is a scam.

Because in the real world there is no way of earning 10% monthly from staking USDT or mining BTC.

How Koneoy really works

Koneoy is a cloned scam, and as it predecessor, it might run as a Ponzi scheme until it is forced to collapse. Or it might be a straight scam that is just stealing money from people. Either way, you want to stay away from it.

If it is paying, it means that it is running a Ponzi scheme that is taking money from people on deposits and using this very money for payouts.

In other words, no real staking, crypto mining or any other activity is going on, Koneoy is just a scam where all the money will be lost in the end.

Koneoy review – Conclusion

Koneyo is a scam crypto exchange, it is a clone of an infamous fraudulent platform. This scam exchange is only two weeks old and it won’t last long, all the money will disappear. You have to stay away from it.

If you are interested in legit crypto trading, try a free demo on a regulated platform. You will get virtual money to train and learn.

You can invest real money only when you are sure that you understand the risks and when you have a strategy that you tested on the demo.


BrokerRegulatedFree demoLink

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 76-81% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Comments 20

  • I have invested in this scam app and pulled out after seeing this article. My profits where a month salary so I got real lucky here.

    A ponzi scheme can sometimes go for years without being noticed so becareful out there.

  • Hello What kind name today has Koneoy? Because I can’t login probably I must update but I don’t know from where?

  • This is there current website: https://m.koneoyp.com/#/home

    My friend had a stake for 90 days, good for him he invested a small amount of money he is able to lose.

    But they froze his account and now he has to contact customers service again.

  • I was scammed here be careful

  • What can I do? I have earned a lot on the JAIS coin, but now koneoyp sent an email saying it is about to merge and all the coins are to be listed on other crypto wallets on your choice.. to do so, I have to pay 1,5 per cent of my current profit.. to them. I haven’t considered it, yet my JAIS is growing with a solid profit. I hate to see all this money go down the drain..

  • also worry as I have a lot on the DOFT JAIS ,STMO and EAISO coins , i also received email from Koneoyp yesterday about listing all coins to Main crypto Wallets of the world and to Pay 1.5 % of total Coins value .My miners goes normally and making Profits .

  • Red flag for this exchange. The approach is always the same, people supposed to compose a wrong number, ask for taxi and tours, then after begining a friendly chat start to talk about cryptos.

    First steps on the exchange is encouraging. Withdrawals are working fine. But once you go throught ICO, problems occur. You see a lot of money a supposed financial advisor encourage to put more money and after change rules, request you to pay unexpected fees due to “good news”, and finally you’re unable to withdraw anymore

    I think someone has to advise FBI on this

  • Please leave you WhatsApp details. I have screenshots. Let’s discuss.

  • I think we should all report this to FBI collectively..

  • i was invest in koneoyp
    he want for me 1.5% because token
    enter to other crypto wallet
    and today the service costumer cancel automatically all massage contacts with
    me in telegram and application not work
    every week i need to upload the application more time today the koneoyp page in google not work and all other pages not work

  • i have big problems with invest
    in koneoyp every time they change rules
    and application not work they have how is have whatsupp
    to contact to receive more information

  • your application now work ?
    i’m want to upload but application page not work in google

  • C’è un gruppo in telegram per chi è stato truffato da koneoyp, si scammed by koneoyp, prego chi è stato truffato di segnalarlo nel gruppo con numeri di telefono e screen dei pezzenti della truffa, i soldi difficilmente si riprenderanno, ma speriamo chenorendano i delinquenti. C’è gente che ha pers 25 mila dopo aver vhiesto un prestito alla banca, io ne ho persi 13 mila.

  • Koneoy servers are located in HongKong.
    When doing a Nessus scan LAST year on there website you quickly find out that this whole operation works from China.

    I have not followed this website for a while and there current website koneoy.com is no longer up. If you want me to do a new Nessus scan I am willing to do that if someone can give me there IP or website.

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