Wrote alot of crap.
I will sum it up.
Its fraud.
They contacted me about it.
Like true criminals, apparently now I owe them money rather than the opposite.
So we have their location yet? Anyone?
Topic: Update: primexbt fraud (Read 267 times)
Anyone has their office location?
You planning to storm their offices over 500 bucks?
I can't find any listed addresses. They are apparently registered in the Seychelles and St. Vincent and Grenadines: https://primexbt.com/about
Offshore registrations aren't searchable in either case, so that's a dead end. Last year, they said they were moving their operation to Switzerland, but the domain migration never happened and they are still listing the old information in their terms: https://medium.com/primexbt/primexbt-trading-infrastructure-moves-to-switzerland-9ca7989d2415
Good luck. They made themselves difficult to find.
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I want my fucking money
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The market has now bottomed and reversed and LTC will go parabolic from here.
I have notified prime xbt of reinstating position at 72.5 dollars, 35 ltc or refund $500 usd deposited capital to specified btc wallet.
The margin with 35 ltc was $180 down to $67, ltc bottomed at over $69 as expected.
There was also no margin call it was an immediate zero response time liquidiation at 10% over margin limit. I was trading as it happened.
This message along with the email sent to their support will be saved for future reference when ltc first goes to $114-$118 and then maxes out at $1500 in a few months.
My target was $118 because the 35 is then deleveraged and position would be closed.
I would then probably sell them for waves or use it for summer spending.
I have notified prime xbt of reinstating position at 72.5 dollars, 35 ltc or refund $500 usd deposited capital to specified btc wallet.
The margin with 35 ltc was $180 down to $67, ltc bottomed at over $69 as expected.
There was also no margin call it was an immediate zero response time liquidiation at 10% over margin limit. I was trading as it happened.
This message along with the email sent to their support will be saved for future reference when ltc first goes to $114-$118 and then maxes out at $1500 in a few months.
My target was $118 because the 35 is then deleveraged and position would be closed.
I would then probably sell them for waves or use it for summer spending.
I'm also not aware of this exchange, probably in to low-mid tier bracket.
I would also suggest that you open up a thread here: Scam Accusations so that it will get a lot of exposure and maybe others can share similar experience with you.
I would also suggest that you open up a thread here: Scam Accusations so that it will get a lot of exposure and maybe others can share similar experience with you.
See screenshot to understand how I was misled to believe there was larger margin.
Never heard of a deposit bonus at an exchange before. What were the explicit terms? I can't find anything on their site about it, only advertisements from third party referral sites. Is there a play-through requirement similar to casino deposit bonuses? I find it hard to believe they would just instantly release a 35% bonus.
I'm guessing the bonus funds weren't ever really backing your maintenance margin, which is why you got liquidated. Perhaps the fault of misleading UI, but I kind of doubt they'll refund you.
Keep us posted.
Sequence of events:
1. Deposit 150 usd liquidated at terminal intraday bottom of 72.5 ltc with 35 ltc and 0.2 btc. Received margin call email so this was not their fault.
2. There was either 60 dollars gained or 60 deposited, in any case the 35% deposit bonus was activated when I canceled a withdraw and funded trading account. Bonus was 22 dollars and take note of this because I think I see where things went wrong.
3. Liquidated at 78 ltc, temporarily at +1000% profit prior to this event, no margin call notice.
4. Funded trading account with 330 usd and received 200 usd reward bonus, liquidated at 72.5 ltc, 35 ltc. No margin call.
5. Problem appears to have been double reward payout, whereas only the 22 dollars accounted into my trading margin instead of 200.
6. Requested full 500 usd refund as I would not have positioned as aggressively knowing that only my personal funds plus 22 dollars were active.
7. See screenshot to understand how I was misled to believe there was larger margin. I actually thought primexbt credited this second reward due to two wrongful liquidations both at terminal bottom.
If money is not refunded I will recalculate debt at 72.5 ltc 35 ltc in case this goes up from here. Base money owed is 500 usd.
As you can see, 35 ltc with 180 usd margin is 5 dollars or 7.5% at 67.5 from 72.5 which is a huge intraday span when its already down 10% from 80 in a day.
There is alot of money to deposit with margin call.
I will probably not use this service again unless there is some compensation.
Update:
Bottom came in at 69.7, this will now go parabolic from here.
1. Deposit 150 usd liquidated at terminal intraday bottom of 72.5 ltc with 35 ltc and 0.2 btc. Received margin call email so this was not their fault.
2. There was either 60 dollars gained or 60 deposited, in any case the 35% deposit bonus was activated when I canceled a withdraw and funded trading account. Bonus was 22 dollars and take note of this because I think I see where things went wrong.
3. Liquidated at 78 ltc, temporarily at +1000% profit prior to this event, no margin call notice.
4. Funded trading account with 330 usd and received 200 usd reward bonus, liquidated at 72.5 ltc, 35 ltc. No margin call.
5. Problem appears to have been double reward payout, whereas only the 22 dollars accounted into my trading margin instead of 200.
6. Requested full 500 usd refund as I would not have positioned as aggressively knowing that only my personal funds plus 22 dollars were active.
7. See screenshot to understand how I was misled to believe there was larger margin. I actually thought primexbt credited this second reward due to two wrongful liquidations both at terminal bottom.
If money is not refunded I will recalculate debt at 72.5 ltc 35 ltc in case this goes up from here. Base money owed is 500 usd.
As you can see, 35 ltc with 180 usd margin is 5 dollars or 7.5% at 67.5 from 72.5 which is a huge intraday span when its already down 10% from 80 in a day.
There is alot of money to deposit with margin call.
I will probably not use this service again unless there is some compensation.
Update:
Bottom came in at 69.7, this will now go parabolic from here.
Primexbt is frauding, the margin bonus doesnt work i got liquidated at 72,5 ltc had 180 dollar margin down to 67
They owe me 500 usd now, i know location of one employee because he is swedish.
Beware.
They owe me 500 usd now, i know location of one employee because he is swedish.
Beware.
Primexbt is a global top alexa platform
They are running a 35% deposit bonus until april
Without going into details
Its the reason for parabolic advance and shallow retracements
Predict 2020 sideways year due to profit primexbt generates from overnight leverage fees from long positions
But first, massive rally towards 50 to 100k btc and alts included in leverage portfolio
Because its risk free gambling as primexbt covered tge margin up to 0.35 btc per user and profits from monthly user payments in fees
Hope this makes sense
Buy now, it will go sideways after 1st april, possibly big retracement only then.
Second prediction,Ltc 100bn market cap with fundamental backing, I cannot reveal why as i am using this feature, it is not a new thing but it is connected to atms.
They are running a 35% deposit bonus until april
Without going into details
Its the reason for parabolic advance and shallow retracements
Predict 2020 sideways year due to profit primexbt generates from overnight leverage fees from long positions
But first, massive rally towards 50 to 100k btc and alts included in leverage portfolio
Because its risk free gambling as primexbt covered tge margin up to 0.35 btc per user and profits from monthly user payments in fees
Hope this makes sense
Buy now, it will go sideways after 1st april, possibly big retracement only then.
Second prediction,Ltc 100bn market cap with fundamental backing, I cannot reveal why as i am using this feature, it is not a new thing but it is connected to atms.
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