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Topic: Scam Report Against CryptoXchange $100k USD - page 4. (Read 26299 times)

hero member
Activity: 504
Merit: 502
Having pulled another few thousand out of crypto this week (24 hours for an international wire is one of the fastest I have received), the scammers are still the Australian banks charging 8% currency spreads costing me extra hundreds of dollars going to their profit margins.  Locally it's only 4% and other places are even less.

Didn't see any liquidity problem.

8%!!!

The worst I've ever seen was at Brisbane Airport where the AUD/USD buy/sell spread was 30%.  It's cheaper for me to buy Australian cash outside of Australia than doing so locally.  Similarly, for the money I have in my AUD account in Aus, it's too expensive to send back to my local account, so I'll wait until I pass through an airport and visit the closest ATM and extract it.

As for the back on topic - other than a trading glitch I saw on the BTC/USD screens a few days ago, have not seen any other problems with CryptoX or them being taken out of circulation by the OP's actions.

30% o_0, are you sure you didnt walk into some loanshark cage Tongue

That seems highly criminal and suddenly it makes our foreign exchange that peaks at 3% seem outragiously low.
hero member
Activity: 518
Merit: 500
Having pulled another few thousand out of crypto this week (24 hours for an international wire is one of the fastest I have received), the scammers are still the Australian banks charging 8% currency spreads costing me extra hundreds of dollars going to their profit margins.  Locally it's only 4% and other places are even less.

Didn't see any liquidity problem.

8%!!!

The worst I've ever seen was at Brisbane Airport where the AUD/USD buy/sell spread was 30%.  It's cheaper for me to buy Australian cash outside of Australia than doing so locally.  Similarly, for the money I have in my AUD account in Aus, it's too expensive to send back to my local account, so I'll wait until I pass through an airport and visit the closest ATM and extract it.

As for the back on topic - other than a trading glitch I saw on the BTC/USD screens a few days ago, have not seen any other problems with CryptoX or them being taken out of circulation by the OP's actions.
sr. member
Activity: 283
Merit: 250
Making a better tomorrow, tomorrow.
I'm sorry for your loss but is this just another attempt at controlling the market price?  Huh
Just for the record Opistlled is a really annoying word.  Sad
legendary
Activity: 966
Merit: 1003
Having pulled another few thousand out of crypto this week (24 hours for an international wire is one of the fastest I have received), the scammers are still the Australian banks charging 8% currency spreads costing me extra hundreds of dollars going to their profit margins.  Locally it's only 4% and other places are even less.

Didn't see any liquidity problem.

8%!!!
legendary
Activity: 1330
Merit: 1000
Bitcoin
this is getting good!!!  Grin
hero member
Activity: 518
Merit: 500
Having pulled another few thousand out of crypto this week (24 hours for an international wire is one of the fastest I have received), the scammers are still the Australian banks charging 8% currency spreads costing me extra hundreds of dollars going to their profit margins.  Locally it's only 4% and other places are even less.

Didn't see any liquidity problem.
full member
Activity: 127
Merit: 100
Just wondering how you got $100,000... Seems rather a lot of bitcoins!

It's called being successful, I currently have quite a good amount of funds myself. Many people on here have these large amounts.

They're not that large for serious investors.

Hedge funds like the one I have an interest in drop serious amounts (much more than $100k) into ventures if the business model works for us.

sr. member
Activity: 280
Merit: 250
Just wondering how you got $100,000... Seems rather a lot of bitcoins!

It's called being successful, I currently have quite a good amount of funds myself. Many people on here have these large amounts.
newbie
Activity: 42
Merit: 0
Just wondering how you got $100,000... Seems rather a lot of bitcoins!
sr. member
Activity: 280
Merit: 250
I've just received a wire from them today so I'd hardly call them illiquid.



100,000$ goes a long way, now they can run there ponzi a little longer.
hero member
Activity: 1138
Merit: 523
I've just received a wire from them today so I'd hardly call them illiquid.

legendary
Activity: 966
Merit: 1003


In reference to liquidity, unless the exchange(s) used customer's fiat deposit for personal use, I fail to see how an exchange would become illiquid.

Chargebacks.
full member
Activity: 210
Merit: 100
The problem with that is that we all know Ken is honest and that CryptoXChange has a flawless reputation.

I wouldn't say they have a flawless reputation.  We don't all know that.  

I've heard rumors that they had major litecoin solvency issues which they swept quietly under the rug, and that is why you can't trade litecoin anymore.

Another rumor I heard was that their registrations and compliance are overstated and that they don't have any financial service business registrations and they are effectively registered as a software company.

I don't know if either of those are true, could have just been trolls.  Heard from anonymous internet strangers, so take that as you will.

Doesn't matter to me though, I've never liked their business style (excessive ads, "24-hour support" that isn't always available, gold coin pricing errors, etc.) . This thread just seals the deal.

I think this may be the end of CXC

It's a bit difficult to distinguish rumours from news on the internet but it's not very difficult to do a google search:

http://www.abr.business.gov.au/SearchByAbn.aspx?abn=12140244828
http://www.search.asic.gov.au/cgi-bin/gns030c?juris=9&hdtext=ACN&srchsrc=1&acn=140244828
http://whois.domaintools.com/bitcoinminingrigs.com.au

These sites confirm what is posted on the CryptoXchange website:

Australian Owned and Operated by Kenseycol PTY LTD,
Trading as “Crypto X Change”
64 McNamara Street Orange,
New South Wales 2800
Australia
Business Registration Information

So unless they pasted a random company's info, it looks legitimate.

In reference to liquidity, unless the exchange(s) used customer's fiat deposit for personal use, I fail to see how an exchange would become illiquid.
sr. member
Activity: 308
Merit: 250
The problem with that is that we all know Ken is honest and that CryptoXChange has a flawless reputation.

I wouldn't say they have a flawless reputation.  We don't all know that.  

I've heard rumors that they had major litecoin solvency issues which they swept quietly under the rug, and that is why you can't trade litecoin anymore.

Another rumor I heard was that their registrations and compliance are overstated and that they don't have any financial service business registrations and they are effectively registered as a software company.

I don't know if either of those are true, could have just been trolls.  Heard from anonymous internet strangers, so take that as you will.

Doesn't matter to me though, I've never liked their business style (excessive ads, "24-hour support" that isn't always available, gold coin pricing errors, etc.) . This thread just seals the deal.

I think this may be the end of CXC
donator
Activity: 853
Merit: 1000
subscribing for entertainment

but seriously I hope this gets resolved well
vip
Activity: 33
Merit: 0
I'm more than a little suspicious of ALL exchanges running fractional reserves, and being unable to meet their withdrawal demands.

+1



I think they're all broke it's always something.. Angry
zvs
legendary
Activity: 1680
Merit: 1000
https://web.archive.org/web/*/nogleg.com
Maybe Panama, Brazil or Hong-Kong etc. could be way better.

Definitely not Brazil!
Brazil might a good place to hide yourself if you're wanted by the police abroad (particularly if you're a leftist terrorist wanted for multiple murders), and even of that I wouldn't be 100% sure - if someone in the government sees an advantage for himself in turning you over, and there's nobody who would have an advantage in protecting you, then you'll likely be extradited.

Brazil is definitely not the place to hide your hard-earned money from predators, that's for sure. It's a tax hell, not a tax haven.

Malta is nice,  they make good offer for poker players from USA to establish residency there

this thread:

мозг взрывается
sr. member
Activity: 336
Merit: 250
Can we coin a term "Dwollad" for things like this? Funny how this and the Dwolla vs Tradehill situation occurred in the ~$100K range.
sr. member
Activity: 266
Merit: 251
Yesterday exchanged for test 83 BTC with Cryptox, then transferred CryptoXChange code to AurumXChange, and then got  payment to Liberty Reserve successfully. This is not $100k though. For such amount I would transact only if I knew personally owners, otherwise I would go with small transactions to lower risks.

So I would like to say that at least AurumXChange trusts CryptoX codes, and probably there are good amounts flowing there. And AurumXChange as well maintain enough reserves to grant immediate payout using liberty reserve. This means there trust exists between Aurum and CryptoX.

full member
Activity: 196
Merit: 100
IMO, if this customer had 100K there, how likely is it that the exchange actually has the funds to pay?

Well since the 20k+ of BTC is claimed to have been transferred into it I would say good chance they have the cash in one form or another ie. either still have those coins they can sell to get it or the cash from the sale of them is just sitting there still.

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