I been dey think say Exodus na CEX, not until I discovered recently say na DEX wallet. That's why Dem dey always emphasise on the best wallet to use and these wallet includes:
1) electron wallet
2) okx
3) trezor
4) crypto.com
5) BitAdress
6) Leger nano
And many others. Before person sopps to put money for any decentralized wallet, person sopps do research before you put your money because no be every wallet be best wallet to save crypto. Most of this people no get any good porpos for people. I never hear before say DEX dey do KYC. And that's is to say them intentionally do wetting Dem do because them know say most people dey like to keep there money for decentralized exchange because of the safety from " not your key not your coin" and also because dey chose to be anonymos. And them see am say most people wey put there money for there, Dem do illigal things and them no go like show there face, so by so doing of KYC, most people go rather leave the money Dan do KYC.
Though no be the fault of Exodus, but coinswitch. But e fit be say na plan who knows.
Topic: D RISKS WEY DEY EXODUS EXCHANGE FUNCTIONS ( HOW COINSWITCH SCAM PEOPLE ) (Read 227 times)
December 16, 2023, 02:27:26 AM
December 16, 2023, 02:03:27 AM
Original Topic: Risks of the Exodus exchange function (“coin switch scam”)
Author: 1miau
I go just they leave dis tori for here as I dey hear say plenty newcomers dey use exodus together with the exchanges function as fah say the thing no get wahala to use (but e cost oo)
But as the matter day go e no tey wey some bad experience don they sub oo as some people wey they use am don dey bring the matter come Reddit. I no sure say this scam happened to small number of people wey day use the wallet but sha e no be one big issue like dat, but newcomers suppose dey know say the matter don happen to people, so as them dey use dis exodus of a thing make them dem dey extra careful and aware say e get as e be.
People wey them they use this thing suppose know say exodus no be exchange on it own ooo, but common a normal computer wallet wey join hand with coinswitch so that dem go fit perform exchange. Dis exchange of cryptocurrencies wey they sub for exodus no be only them day do am but with the other partners dem join hand with, so exodus dey send this cryptocurrencies so dat dem go fit exchange am with their partners dem. So tey The end of 2018 wen them exodus joins hand with another partner again called shapeshift, wey they work from Switzerland and Denver. E come reach the time wen the SEC (U.S securities exchange commission) say make the exodus bring KYC to dem wallet, na dat time exodus begin dey look for another partner wey them go join hand with.
Dis function e day under the performance of 5 provides,dis 5 provides include changelly, coinswitch and many of them, but sha report don drop as people wey dey use the exchange feature don dey complain of losing their coins
Some month wey don pass people they wey them don they complain give about it on Reddit:
https://www.reddit.com/r/ExodusWallet/comments/e6rydc/beware_exodus_exchange_scam_ripped_75_via/
https://www.reddit.com/r/Bitcoin/comments/ei0h8m/coinswitch_exodus_scammed_6500_euro_coinswitch/
https://www.reddit.com/r/ExodusWallet/comments/egphm2/exodus_coinswitch_are_a_huge_scam/
This nah small tori on how them scam them:
Some people don use the exchange function in exodus and them don sent the coins, but the coins wey them exchange no come back as them promise. After they don contact the exodus nah him them tell them to contact their partners wey day incharge of the coin exchange which is the coinswitch.
Some of the people wey be victim of this don do so to contact coinswitch, but coinswitch no gree do the exchange for them and still dey no come give them their money back again, including the money wey them suppose give as compensation for the cost of transactions. Coinswitch come say they must do the exchange and request for complete KYC or they go block all the money:
Source
They don freezes another person 6500$ and him don send the request information for the KYC o .
After the coinswitch don receive the information wey him send, they no still gree return the person coins for am but tell him say make him send video with complete information, him do dat one oo but still e no enough them and coinswitch say make him prove where him get the money from.
After him don do that one again, still them no gree release him money for him, e come reach the stage wey him mount pressure on coinswitch, him come do post for Reddit an him come lucky Exodus come day him side nah his coinswitch come return the coin o
=> E come be like say coinswitch try use KYC scope to scam the people oo (the users) and steal their coins.
Last last, I go say all this cases wey I don bring no be them be the major ones o but the unexpected ones, but sha no be only people wey get big amounts be victim o but even the people with small small amount fall for victim also. But sha I no blame Exodus but coinswitch because nah them day Incharge of all this coin exchange, which them come dey put doubt for people mind by freezing their coins, but after all this palaba people wey they use am still lose their coins o.
The question wey I get here be say after 2018 you don use Exodus for coins exchange again and him dey work well?
Author: 1miau
I go just they leave dis tori for here as I dey hear say plenty newcomers dey use exodus together with the exchanges function as fah say the thing no get wahala to use (but e cost oo)
But as the matter day go e no tey wey some bad experience don they sub oo as some people wey they use am don dey bring the matter come Reddit. I no sure say this scam happened to small number of people wey day use the wallet but sha e no be one big issue like dat, but newcomers suppose dey know say the matter don happen to people, so as them dey use dis exodus of a thing make them dem dey extra careful and aware say e get as e be.
People wey them they use this thing suppose know say exodus no be exchange on it own ooo, but common a normal computer wallet wey join hand with coinswitch so that dem go fit perform exchange. Dis exchange of cryptocurrencies wey they sub for exodus no be only them day do am but with the other partners dem join hand with, so exodus dey send this cryptocurrencies so dat dem go fit exchange am with their partners dem. So tey The end of 2018 wen them exodus joins hand with another partner again called shapeshift, wey they work from Switzerland and Denver. E come reach the time wen the SEC (U.S securities exchange commission) say make the exodus bring KYC to dem wallet, na dat time exodus begin dey look for another partner wey them go join hand with.
Dis function e day under the performance of 5 provides,dis 5 provides include changelly, coinswitch and many of them, but sha report don drop as people wey dey use the exchange feature don dey complain of losing their coins
Some month wey don pass people they wey them don they complain give about it on Reddit:
https://www.reddit.com/r/ExodusWallet/comments/e6rydc/beware_exodus_exchange_scam_ripped_75_via/
https://www.reddit.com/r/Bitcoin/comments/ei0h8m/coinswitch_exodus_scammed_6500_euro_coinswitch/
https://www.reddit.com/r/ExodusWallet/comments/egphm2/exodus_coinswitch_are_a_huge_scam/
This nah small tori on how them scam them:
Some people don use the exchange function in exodus and them don sent the coins, but the coins wey them exchange no come back as them promise. After they don contact the exodus nah him them tell them to contact their partners wey day incharge of the coin exchange which is the coinswitch.
Some of the people wey be victim of this don do so to contact coinswitch, but coinswitch no gree do the exchange for them and still dey no come give them their money back again, including the money wey them suppose give as compensation for the cost of transactions. Coinswitch come say they must do the exchange and request for complete KYC or they go block all the money:
Source
They don freezes another person 6500$ and him don send the request information for the KYC o .
After the coinswitch don receive the information wey him send, they no still gree return the person coins for am but tell him say make him send video with complete information, him do dat one oo but still e no enough them and coinswitch say make him prove where him get the money from.
After him don do that one again, still them no gree release him money for him, e come reach the stage wey him mount pressure on coinswitch, him come do post for Reddit an him come lucky Exodus come day him side nah his coinswitch come return the coin o
=> E come be like say coinswitch try use KYC scope to scam the people oo (the users) and steal their coins.
Last last, I go say all this cases wey I don bring no be them be the major ones o but the unexpected ones, but sha no be only people wey get big amounts be victim o but even the people with small small amount fall for victim also. But sha I no blame Exodus but coinswitch because nah them day Incharge of all this coin exchange, which them come dey put doubt for people mind by freezing their coins, but after all this palaba people wey they use am still lose their coins o.
The question wey I get here be say after 2018 you don use Exodus for coins exchange again and him dey work well?
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