Bitcoin Forum

        Hi, everybody. Today I would like to tell your “The 1 million dollars story”. This story happened not only with me, but also with many others. I am sure that there are many people experienced similar fraud.
All crypto miners and traders are linked to some sort of crypto exchanges. I personally work with many of them, and always there are some troubles. Today I would like to write about crypto exchange OKEX (https://www.okex.com/ (https://www.okex.com/)), which is a branch of Okcoin (https://www.okcoin.com/ (https://www.okcoin.com/)).

   Let’s start the story.

        14th of January 2018 there was a big market sell of ETH (with the volume of 100 000 ETH). This volume pushed the price down (see the graph). On the second graph with 15 min — interval, you can see that the deal didn’t happen at once, but there were several big sells.
https://image.ibb.co/eiHsUS/1.png

        Graph 2 - ETH/USDT – 15m
https://image.ibb.co/gzKNUS/ETH_15m.png

        This time I bought 1045.33...ETH for 0.002 per unit. I had the order to buy 10000 ETH and this order was activated partially (see screenshot below).
https://image.ibb.co/mmk1On/image.jpg

        I also add screenshot with my account balance.
https://image.ibb.co/gNdGpS/ETH_2_available_1037.jpg

        Immediately after that, I tried to take out part of ETH balance, but it was blocked (see picture below).
https://image.ibb.co/jCwK9S/ETH_buy.png

        When I tried to withdraw 10 ETH, it was also blocked, even though that quantity of ETH I did have before the purchase of 1045 ETH.
After these unsuccessful attempts to withdraw money my account was completely blocked. Then  I tried to contact to customer support to explain the situation, but they simply ignored all my messages.
https://image.ibb.co/bGZd3n/image.png

        I messaged to customer support both of OKEX and Okcoin, but there was only silence. After some time they called me. Unfortunately, it was really hard to speak to Chinese in English, because of their accent. Thus I asked them to write me in order to make communication simpler. They ignored. During the call representative of this exchange offered a deal: «we can leave you with 145 ETH (about 160 000 dollars), and the least 900 ETH (around 1 million USD) we will take away». They pushed me to accept this offer, but there was no explanation why should I give them a present of 900 ETH, if I did everything according to the exchange’s rules. No explanations at all. After this, they started to ignore all my messages and calls. I also tried to contact through social networks, but they continued to ignore me.
        During my attempts to contact to exchange representatives I made some trades in order to diversify risks.

        A little bit after, 23rd of January my account had been completely blocked. I loose opportunity to manage my orders. Several days later, my account was unblocked but all my orders were canceled (on the screenshot only first page is showed).
https://image.ibb.co/gbHy3n/1.png

        Take into account the numbers in blue rectangle (available balance). They cleaned also my history of withdrawals. Below there is a screenshot of ETH withdrawals history before this story.
https://image.ibb.co/etMVG7/1.png

        and after blocking my account.
https://image.ibb.co/mV5kin/ETH.png

        After the canceled active orders they also did steal my funds from balance and it happened to look as in the next screenshot:
https://image.ibb.co/kVa7w7/ETH1.png

        One month later after previous phone call I finally get a new call from technical support. This time they argued based on one of their rules — see screenshot below. No explanations what exactly I did wrong, only reference.  More interesting fact is that this rule about futures trading and not cryptocurrency (coin) trading. You can find it in the chapter about futures trading rules. (https://support.okex.com/hc/en-us/articles/360000611372-OKEx-Futures-Trading-User-Agreement (https://support.okex.com/hc/en-us/articles/360000611372-OKEx-Futures-Trading-User-Agreement)) There were no explanations about this fact again.
https://image.ibb.co/bGfzb7/image.jpg

        After this representatives started to ignore me completely. Nobody answers my requests to technical support or directly to the company representatives. Moreover, I lose money in equivalent to 1053 ETH.
        In the history of transactions with ETH you can see that ETH just vaporized. The last transaction was 21st of January — that time I had 988 ETH on my account. Then my valance became to equal to 22 ETH. See the screenshot below.
https://image.ibb.co/hrEE9S/ETH.jpg

        The same situation also happened to other assets.

        Taking into account volume of ETH which was sold during the price drop, I can conclude that there are many people like me who got ETH for low prices. I am sure that I am not the only one, who was frauded by the exchange. I hope that somebody would read my «1 Million Dollars Story» and share his/her own story (or contact me). Moreover, I am sure that there are much more people which were frauded by OKEX on a smaller amount of money. I am kindly asking everybody, who experienced fraud and larceny from OKEX, please contact me and share your story. Only together we would be listened and would have the opportunity to something. Otherwise more and more people will be new victims of this exchange.
        You can find many articles and posts writing about how hackers steal XXXX amounts of BTC or altcoins. But after this story, I have a question. How many times money was stolen simply by exchanges itself? Maybe all that stories are not about hackers?

        P.S. if you also experienced some kind of fraud from other exchanges, please share with us.

        I am also adding the link to tech-media, where you can read about this story.
https://ain.ua/2018/03/20/ukrainec-obyavil-o-krazhe-1-mln".ua/2018/03/20/ukrainec-obyavil-o-krazhe-1-mln  (https://ain.ua/2018/03/20/ukrainec-obyavil-o-krazhe-1-mln".ua/2018/03/20/ukrainec-obyavil-o-krazhe-1-mln)

        And English version of the article: https://drive.google.com/file/d/1_3YnVyYIQ3QE6ji5QbFDNVgqLN0MZnUT/view?usp=sharing (https://drive.google.com/file/d/1_3YnVyYIQ3QE6ji5QbFDNVgqLN0MZnUT/view?usp=sharing)

Da hell means "and the least 900 ETH (around 1 million USD) we will take"? With all those fishy things it feels like you can fill the legal complaints to this exchanges in order to block them or solve the issue. Why no one is doing it? Can you withdraw the rest of your balance now?
Also from my own experience I can point out that chinease sometimes have problems with english, even when you are contacting the support of decent services. There might be still a chance that you've misunderstood each other.

We work about the legal complaints and lawsuits. After the funds have been stolen, access to the account has been restored and I withdrew assets from the balance.

What !? This really need some attention. There must be more complainant also like you. If all of the victims will not make some effort or voicing out their problem that exchange will continue making that kind of stealing.

I read a lot of story like this (other users like ETHTRADER and NATAL have similar issue). Sorry tho heard this :(

Thank you for information. I'm find user Natal, but I can't write him( And I can't find user Ethtrader

Number games “The more,, the better,, contact all concerned members..

You need to talked to those with the same investors who experienced such fraud,, to make or filled the lawsuit so more complainants much stronger the case.. I don’t know if they required real identification or documentation in Okex.. If it isn’t required before,, in this legal battle you have to face it,, is a must to open your personal life and anonymously will not be permitted..

I share your opinion

I'm trying to find the other victims for cooperate.

wow thats some story if you are done with collecting the people bring them down to a proper law firm who can actually do something. If I were you I would go to a lawyer in the companies jurisdiction for sure. Maybe a bug international law firm with a local office, and agree with some smaller upfront fee and a success fee. Usually they are taking it.

Oh I so its Chinese. Man thats going to be hard but do it! Go for a big lawfirm, they usually have good governmental connections and they can force these guys.

Lesson learnt, Okex might got technical glitch on that drop with which they might have credited ETH in your account because you have buy orders open at low prices. So basically Okex have to pay it to you from their pocket, this might be reason behind their negligence.

They should be brought down to their knee with lawsuit.

I had contacts with lawyers, but their price was very high. Now, I continue to search other opportunities.

Guys, maybe someone have ideas, where can I try to apply for the dissemination of information about this incident. Maybe some mass-media may be interested in this material? Forums, blogs, bloggers? People should be aware of such cases. Everyone can become a victim.

Yeah ! You can try to spread this story on all social medias. I'm sure this will have a trend because of this exchange has more user and so they can also be aware that this exchange is not a good trust.

Yes, many people don't have awareness about it and moreover, many people are using this exchange. So it is better to post on the social in order to get more awareness about your issue. At least one of their support team should answer.

Thank you. I'll try it

Thanks for such a detailed write-up, my friend :)
I have heard some stories about Okex falsifying the trading volume, unfortunately :(
Maybe it is an honest mistake, the thing that happened to your assets? Maybe there's still a way to recover them? I hope there is :)

Thank you. I will work with lawyers to resolve this matter and return stolen assets.

Dear friends, users of the forum - the topic is relevant and I will inform you about the course of events in this case. Please, if you have similar situations with Okex or Okcoin, write about it in the topic or in private messages. Together, we can achieve more!

Hello,
I filed 110 EOS on Okex 15 days ago (2018-05-17), the deposit confirmation is blocked at 368 confirmations on their screen and I still do not have my tokens available. The transaction on the blockchain is valid. I multiplied the tickets without results, the answers are evasive and tell me that they return the information to the technical service and they close the ticket.
I am very disappointed by this platform, I strongly advise, they just stole my EOS.

I'm sorry for you, Samcome ( More people should know about such cases because Okex will not stop and there will be new victims. I'm currently working with lawyers to file a lawsuit against Okex / Okcoin's owner. I will update the case information on this topic. Follow the topic and share your stories on Okex. We will achieve justice together

If there is a collective complaint let me know.

Write me please in private messages

I've just written too. Are there any chances to get back the money?

It was your mistake, they tried to give you 145 ETH but your greed has surpassed. And I supose there is no any possibility to claim anything.

It was a bribe. Why do I have to take it? Okex has violated the rules and stole my assets. Will they return me assets? This will be decided by the lawsuit

This is very sad if true.  So many scam exchanges now from what I've been hearing.  Really makes crypto looks bad and scares of any newcomers.

I have heard stories about unpleasant situations that happened to people who faced fraud from Okex. Thanks for sharing useful information. I will take this into account and will be careful with such frauds. Hope not to face such 1mln stories frauds

Wow, this is awful. I hope you get your money back.
About the lawyers, why didn't you offer them a % of that ETH if the lawsuit goes in your favor and they get it back? They'll even have a incentive to be extra dedicated to the task. Just a taught.

Thank you, I hope we'll do it) Now I working with the lawyer. I'll be updating the case information in this topic

Bypass Okex  - this is the right decision. Maybe you know someone who has suffered from Okex / Okcoin? I'm looking for people who have suffered from their activities. Perhaps it will be possible to create a collective claim.

a very interesting story, twofold, each of the parties acts in its own interests and in accordance with its own rules, but in general, it does not break anything, but one must understand that the exchange is in a better position, since they can interpret the facts as they need

You are right, it makes a problem for crypto(

Yes, the exchange is in a better position, since they can interpret the facts as they need. But they should not do that(
I did not violate the rules of the exchange. Okex was not able to say what rules I violated. I have not received any explanations regarding their actions

More people should know this and similar stories. Traders should be kept together, then exchanges will be considered with us

I have no idea whether that is true or not because ww can creat a simple yet effect story to allure the people to invest in our company but there are some legit stories which is featured also.

I don’t have to judge whether the story is true or not but we should see the great thing behind of this, that there is a hope and you can be successful with the help of cryptocurrency.

You can contact the owner of the post because actually, I find this story very useful.

What do you mean?

And else, maybe someone knows good jurist at the crypto-currency area?

His mean you need to contact the owner for more details.

I'm the owner

Oops! I have a bit of a username error. So sorry!
I also look forward to sharing with those who have encountered such incidents or frauds.

This is exactly the reason why I do not put all my eggs in one basket. Putting one million dollars in any exchange is really risky, there is no way knowing if they will steal it like what happened here or not. If I had one million dollars to actually trade, I would probably put them in like 10 different exchange websites and even save some aside in a ledger or something and do what I do very slowly with very little amounts while keeping my coins safe in my ledger.

Exchange websites are shady as hell but also lets give them the benefit of the doubt when it first happens because they may think you are stealing from yourself, they need to make sure its really you. However this one goes way beyond that so its valid.

Worst of it all is that we never take actions against online scammers, I don’t really know why, maybe that’s because they can’t be traced or because we don’t know. Well, it’s still possible for them to escape. They can leave their building and move to another location, or it can be that they have put up a fake address on their website, quite possible. As for me, this can be a scam.

Most of these scam projects starts off like a good one and will literally gain people’s trust. And when they have been able to gain the trust of people and managed to have gotten millions of dollars invested in their care, they will come up with a stupid fake news to make away with the money.

One more story about Okex here: https://bitcointalk.org/index.php?topic=4771928.0

Maybe, does someone else has a story about Okex/Okcoin?

On the other end of your fantastic trade, someone sold you really cheap Ethereum. But the problem is if there is really another human trader involved (a fat finger trade).

I think the exchange has no problem releasing the ETH you bought cheap if only there is someone that has sold you that. I think this is the problem when exchanges fake trading volumes or trades. They just sold you air and no ETH to give to you which is rightfully yours.

We can assume a lot. Even if the Okex was engaged in own machinations - these are their problems.
There are guesses that in this situation hacked the trading robot Okeech. Therefore, they offered a bribe, because they were own money and they could offer them. At the same time, they certainly do not make any statements, because if they admit to being a hack, then big investors will begin to withdraw their money from accounts ...

Else one story about the fraud of Okcoin: https://bitcointalk.org/index.php?topic=4802995.0
Now is popular in mass media.

Dear Mr. Feng Bin, if you see this message, contact me, please.

Hello, dear users. At last week we have one more article about Okcoin. For this time, the group of investors, who had huge losses on Okcoin, accuses the founder and CEO of Okcoin Mr. Xu Mingxing. More detail you can read here: https://www.caixinglobal.com/2018-09-12/chinese-bitcoin-tycoon-xu-mingxing-questioned-by-police-101325058.html

The story is good, I liked everything.
What do you think, how much will it pay off?

Read my story as well:
https://bitcointalk.org/index.php?topic=5112049.msg49826895#msg49826895
Hong Kong police was investigating.

Hi, I can't open the link for your topic: https://bitcointalk.org/index.php?topic=5112049.msg49826895#msg49826895
Can you give me another link or tell me your story, pls!? Or maybe send a text file with your topic... Maybe i haven't access to the topic

Yes I don´t know why its necessary to be logged in to read my thread. But here the copy, paste:

Okex robbed over 4 Bitcoins from me, Hong Kong police department investigating.

I tried with
1. Phone support
2. Chat support
3. Mail support
I am still waiting for following withdraws requested:
BTC 2018-03-05 00:54:31 withdrawal -3.68650000 0.00042000 0.00000000
BTC 2018-03-05 12:06:20 withdrawal -0.63150000 0.00068300 0.00000000

My case is classified as Crime Alleged to Occurred Outside Hong Kong.
The location of the company, OKEX situated at 255 Gloucester Road, was visited from the Hong Kong local police and confirmed to be a false address and no such company was found.

The last e-mail I received from okex was the following on 17 juny, 2018!
"Dear user ,
Our team are working on it , please wait patiently .
best regards"
I had about 20 e-mails conversating with them. All they have done was put off the case.

wow, what was next? Police are investigating this case now?

Woah, I read the whole story and I am really astonished. I would be in huge panic if I were in your place. Never trust these Chinese people.
I guess you have all the required prrofs you need to file a complaint against the exchange. I would suggest that send the screenshots to the exchange and tell them that you will file a complaint against them.
This should fear them and they might return the balance to your account. Do this and wait for a response and if nothing works out then you should definitely file a complaint.

Thanks, I'm thinking about it. Not easy to find good jurist in crypto.