1. ChainX is a wash exchange - 9th on CMC, that has climbed on recent weeks. ChainX is a new exchange and offers IEO. We expose their scam.
2. We have received an explosive leaked document of how IEO on ChainX operates. ChainX and scam marketing agency ICO Pantera are owned by Ryan Won Lee (Korean).
3. In a leaked contract between ICO Pantera/ChainX and Emjac (IEO project -
https://emjac.io/ ), there is a
"Private Funding scheme". Quoting the contract,
"Selling the tokens through OTC after Listing and making Chart. For example you can make the price upper 1$ then sell the tokens at a low price. (Precautions 1 : if Chart is maded in korea, then selling the tokens in other countries like china etc.)"4. What this means is that
ChainX will manipulate the chart to show the price of Emjac at a fake high price, while selling the same tokens through OTC at a much lower price.5. Any IEO participants and purchasers of Emjac on ChainX will get dumped, since ChainX is selling the tokens much cheaper outside the exchange. OTC purchasers of Emjac will be able to deposit into ChainX to
dump against ChainX IEO participants.
6. According to the contract, ChainX will earn a further commission "from 5%" onwards.
7. Hence, it is exposed in this document that ChainX does the following:
- a. Manipulate the price chart of coins on ChainX. All ChainX volumes and prices are fake!
- b. Screw their own IEO participants by selling cheap tokens outside the exchange
- c. Allow the OTC purchasers to dump their tokens on their own IEO participants
- d. Earn a commission on all the OTC sales they make
8. ChainX is literally profiting out of their users, their crony OTC connections, and their project clients. Is there a more money-grabbing exchange?
9. Share this post to your friends. Let's protect crypto community from greedy criminal organizations like ChainX.
Attached: Leaked contract between Emjac and ICO Pantera/ChainX
https://anonymousfiles.io/fBCrUpdo/ 
