MudraOne claims to be regulated by Flux Ltd, which reportedly holds a licence issued by the MWALI International Services Authority (MISA) in Comoros. However, MISA is an offshore regulatory body known for its weak oversight and lack of international recognition. The jurisdiction offers limited investor protection, and its regulatory framework is generally considered to be unreliable by global financial standards. Although we were able to confirm the existence of Flux Ltd within MISA’s registry, MISA does not list or verify the official domain(s) associated with this licensed entity. This makes it difficult to confirm whether this platform is genuinely authorised under this licence. Typically, entities regulated by MISA will register their operating domain. The absence of domain registration makes Mudraone appear suspicious and potentially fraudulent. Therefore, we consider MudraOne as a fraudulent broker.