Topic: Crypto exchange bug/upgrades caused me to lose over 140k USD (seeking advice) (Read 56 times)

I only found out about questionable stuff after doing research into them, shell companies, fraud, etc.. I thought they were legit until I lost $$ from an unannounced upgrade and following bugs and did a TON of research. I need the $$, even 20k would help. $140k was a BIG hit to me.


& I do 100% plan to name them if they do not plan to make it right. I will put all of the stuff I've collected on them on some website or see if a large crypto news outlet will cover but I will also post here. They are in top 20-30 CMC and have an almost 5 star rating on Trustpilot and allow USA users and were formed in late 2021. Should name them without naming them with this info which I won't confirm or deny.

The moment you knew they are engaging in questionable practices that was your cue to leave. Why did you stay and continued to trade with them?


He should name the exchange and save other people who will want to trade with them from losing their money as well. They need to be exposed and the attention of the forum drawn to it. Others could have fallen victims to them too and shared either how they recovered their money or what they did. OP should note this.

well if I do that, then I run the risk of getting none of my money back.. I don't know what to do.. this is a lot of money to me that was lost from their issues after an unannounced upgrade as well as issues occurring since which they changed their ToS almost immediately after changing jurisdictions and trying to limit liability after the fact.

Well, if you have any evidence, just name-drop the exchange you're using and post a scam accusation about it. That way, the community can will be aware. There are good exchanges and bad ones, so if you're trading on an unreliable platform, stuff like this can really happen.

they operate in the US with no US operation locations, they use a expired US MSB license that shows the location in Dubai as their way of saying they are fully legit.

I think a complain should be sent to their regulatory body, thats if its a regulated exchange,.state your case with evidence, they can assist you from their end once they find find out your case is legit

I wanted to get advice on a situation I am dealing with, a crypto exchange that has been engaging in questionable practices following major system failures caused me and others to lose money. I lost over $140,000.

Between January 9th and January 26th, 2025, I (along with other traders) experienced trade execution failures, orders not canceling properly, leverage modifications not registering, and unintended trade openings/closings. Despite acknowledging these issues, This exchange has selectively compensated some users while denying others, even with clear video proof showing their system malfunctioning.

Additionally, they changed their Terms of Service right after these issues started to avoid liability, have conflicting regulatory claims, and operate under offshore shell companies. They refuse to take responsibility for the losses caused by their system glitches, despite their verified reserves confirming they have the funds to do so and even a multiple million dollar "user insurance fund" they have stated on their site but doesn't say anything about how to collect from it/etc.

I have extensive documentation—chat logs, transactions, and video evidence—showing what happened. This isn't just a case of a bad trade; this is a platform-wide issue where users were unable to properly manage their positions due to their system failures.

My lawyer said it would be hard and expensive to go after them due to them being a shell company with no real location. He gave me a letter to send them and offered to email them but I am afraid it will shut my account down immediately and I won't get anything. I just want them to make right for what happened from issues on their site which they've even acknowledged at first now backpedal and say it was my fault. They are top 20 CMC exchange. They've offered me 5k at first, then 20k n now  they say "final offer" is $21k or terminating my account. What can I do? any advice?

I have everything documented, literally EVERYTHING, over 70 pages in a google doc of all convo's/videos of bugs/etc.

I made 60k in nov-december as I am good at trading but these bugs caused me to have massive losses.