Bitcoin Forum

WARNING:   NOVA EXCHANGE = SCAM


It's been about 8 days since I deposited and have been trying to withdraw from Nova. I've tried everything and its obvious that Nova Exchange is a Scam.  Otherwise there would be some explanation, a blog post, an email back from customer service. Something!  I've talked with the Mods, they just suggest emailing support (like there is any support!) and they play that everything's cool.

Perhaps like some exchanges have done in the past, they have started randomly stealing certain users funds?  Allowing some to withdraw and others not and then pretending that its all good..

Look at how much volume they're doing, wtf?!

https://coinmarketcap.com/exchanges/novaexchange/


Their system allows you to deposit funds just fine but when I withdraw it doesn't send the confirmation email. I get the login notification emails immediately.  (its not spam, its not my email, its not chrome or firefox, etc, I've tried withdrawing different currencies, the green success shows but I never get a confirmation email so it stays stuck in outgoing orders. I've emailed 3 times to support, last time was 5 days ago. )

(I define a scam as when someone takes your money without your permission, without giving back anything)


Lesson learned, I really wanted to buy one coin that was listed there. I shouldn't have trusted them with my funds. I thought because they're doing so much volume that "it must be legit".   Perhaps they've decided that which upcoming regulations, they're done and time to grab some coin and run. ?

Just now I am explaining in the other thread regarding this nova exchange. I thought that they are paying with withdrawals on time, see many exchanges are facing the same situation and not able to send the withdrawals to the members even though they are collecting fees from the trades.

youre check in youre transaction in block explorer, ready confirmation or not
you can comment and post in novaexchange official thread in bitcointalk, maybe can fast response is compare with create thread

It is a time ago, that I used novaexchange, so I can't remember the withdraw procedures, but everything went properly, deposits and withdraws. As Novaexchange has several new coins, those wallets can be temporary under maintence or delisted, it would be good, if you would specify, for example, what coin you wanted to withdraw and what amount, so experienced users could maybe give you helpfuladvices. Right now, I can't take your advice not to use novaexchange because of scam, as there is no proof in your post.

Till now deposited ETH coins was not credited to my Wallet. They are not transparent.

this is very bad news but I was lucky because 2 weeks ago I transferred my ETH balance to bittrex. only a few coins with low value are there and I try to withdrawl it to coinexchange but it's always loading when I click the withdrawl button. Has anyone encountered the same problem

I've heard a lot of issues lately with Nova, but my own personal experience hasn't been bad at all. Granted, they have limited support and seem to run into trouble with the small alts almost listed on no other exchange, but I never faced issues or delays with BTC withdrawals. I think they have been trying to deal with their problems.

They just announced their closure, and will deal with all outstanding issues before handing over to new management. Running an exchange catering to a thousand small alts is always going to be tough. Hope the new management will hire skilled developers. Goes the same for any small exchange, really.

The fact that they are actually letting people know in advance that they will shut down is very considerate and rare in the crypto world. It speaks by itself in terms of their honesty.. they could have just goxxed the whole thing and left with million $.

Can you post the tx hash of the deposit? Maybe we can help you to know why your deposit is not credited to your account. I have similar issue but on other site, but I was told by the support that eth deposit is indeed takes longer time than other coins.