CryptoCurrency : The exchange continues to selectively scam and steal funds from users, then blames the users. I still have over $40,000+ on their exchange. Spread the word and stop users from depositing their funds there.

CryptoCurrency : The exchange continues to selectively scam and steal funds from users, then blames the users. I still have over $40,000+ on their exchange. Spread the word and stop users from depositing their funds there.

Hello /r/cryptocurrency,

This exchange is known for not allowing users to withdraw their funds. If you deposit large amounts, they prefer to just keep your funds rather than making money legitimately, so they will do all sorts of different tactics to try to prevent you from withdrawing them or blame you for making a mistake in the withdrawal process somewhere along the way. This exchange offers free listings to encourage people to deposit their coins, then refuses to withdraw them. All withdrawals on their exchange need “manual approval” for this reason. In addition, they have almost no volume – it is nearly all fake. You can see some tweets here:



Here’s my particular situation with them.

After my [last thread here]([]( about the []( exchange, they acknowledged their “mistake” about 4 BTC worth of funds “disappearing” from my account and re-credited it to my []( account. However, I knew immediately that there was no way they would want me withdrawing these coins.

You can follow the ridiculous order of events here on Bitcointalk:


Essentially, after my last reddit thread, they posted on Bitcointalk:

>“Now we will not process your 140,000 coin application until a public apology is made in the community.”

They also tried to deem me as the scammer, which is impossible/ridiculous and everyone saw right through it considering I hold $0 of their funds, while they hold all of mine. That statement was nothing more than another reason for them to not process my withdrawal. Also, this was my SECOND withdrawal on their site. My first withdrawal of 340,000 tokens was deliberately moved to an incorrect address. The next few days were spent with them trying to get me to “apologize” before returning my funds. As illegal and ridiculous as this is, I went through with what they asked and apologized both on Bitcointalk and Reddit for the post. If they were actually willing to return my coins to me and right their mistake, I had no problem apologizing. So this was the apology:


Pretty good apology, but remember the last thing they want to do is actually return my coins. So they emailed me this:

>We are very pleased to see your apology. But it seems that you did not mention the 340,000 tokens, and we are equally concerned about your statement on this matter. Please make a clear statement in your Reddit and bitcointalk apology, who made the wrong 340,000 withdrawal , because this incident has a serious impact on our website, please clearly explain the matter and on Twitter Published.”

So now their intentions were clear. They are now holding my 2nd withdrawal of 140,000 tokens hostage, in order to try to get me to admit that it was me who entered the incorrect withdrawal address for the 1st withdrawal so that they can keep those funds without any contention. Considering I took videos/screenshots of all my withdrawals there (I even showed them two of the screenshots for the first withdrawal), they were trying to get me to lie about it and say it was me who entered a completely different address.

Everyone on Bitcointalk called them out for how ridiculous this situation was, and they stopped responding. They now still hold all of my coins, still (480,000 tokens), over $50,000 USD.

I need some recommendations on what sort of action would be best to take against this exchange. Some people have suggested the CSRC, as it is located in China. Anyone with experience dealing with fraud like this – any help or guidance is appreciated!

In addition, we need to make sure as a community that exchanges cannot get away with stealing funds like this, walk away and continue scamming other users. They continue to list new projects:


**We need to take action as a community against exchanges like this and prevent them from continuing to scam new users and steal their funds**. If you recognize any of the projects they have listed (XMV, XCN, VTR, RATING, ANGEL) – make sure to reach out to those project leaders and warn them about this exchange before more users get their funds stolen.

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Author: troyleroy76

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