Bitcoin Forum

https://bitcointalk.org/index.php?topic=5164576.new#new (Official Thread)

Nova's history, and a gift for our friends!

Dear Nova Exchange friends,

We hope you will find this email interesting. We will try to describe our history as an exchange, where we are standing right now, and where we are heading. At the end of this email, we will also provide a gift to all of you who has shown great support for our exchange.

Nova has been operating since 2016.
In the fall of 2017 Nova exploded in popularity and went from spot 200+ on CoinmarketCap to #46. However, with great power, comes great responsibility.
The previous Nova team was quite small, and lacking the resources to keep up with compliance issues. The owner at the time was also worried about getting hacked. They decided to shut down the exchange in a controlled fashion. This shut-down was announced in December 2017.

Noticing the potential, the present owner, Goobit Group AB decided to acquire Nova Exchange. Goobit Group is Swedish, and so are most of the staff, although Goobit has staff all over the globe.
Goobit AB officially took ownership of Nova Exchange in May 2018, and the exchange was relaunched on 3 December 2018.
Since then, progress has been moving steadily, as we aim first and foremost for customer security, compliance and scalability. This is how we differ from other exchanges:

1. Nova has a custom built accounting system, which took quite some time to build. This system is up to Stock Exchange standards.

2. Nova has a balance surveillance team operating around the clock, every day of the year. Combined with the accounting, this means that your funds are safe.

3. All users have gone through a KYC (Know Your Customer) process. This keeps Nova compliant with rules and procedures, and protects both Nova and our customers from scammers, pumpers and dumpers, and other malicious threats. We want clean and healthy trading. Our goal is to provide a platform for just that, not only now, but also in the long run.

4. All coins that are listed are running on separate servers. This means that if one coin is malicious the worst outcome is that we will lose some of the funds for that single coin. We've seen that many exchanges have lost balance of many coins due to not following this procedure. This is not a risk for the Nova platform. Our top priority is always security.

5. Another common risk factor is Ether, and coins based on the Ethereum ecosystem. As much as we love Ethereum and find it an innovative project, with smart contracts and many other innovate features, it is difficult to work with.

Many attacks on exchanges have been through Ether based coins. To improve security, Nova decided to delist all Ether based coins last fall and have spent most of last year rewriting our Ethereum integration. This work is soon to be completed, and we hope to once again be a home to Ethereum based coins within a few months.

6. Nova stores 97% of all funds in cold storage, and on top of that, there is a dedicated team that moves funds when necessary. This way, if Nova would ever be compromised, an attacker will never be able to steal more than a few percent of all funds.

7. Nova is located in Sweden, a member of the European Union. Legislation protecting the consumer is tough here so all traders enjoy exceptionally high consumer protection.

8. Goobit Group, the owner of Nova exchange, also own and operate multiple other crypto enterprises. Our flagship product is BTCX (bt.cx). BTCX have been providing Europeans a quick and easy way to buy and sell Bitcoin since the beginning of 2012. We believe we are one of the most experienced crypto companies currently in business.

9. The world of crypto has been somewhat of a "Wild West" where funds can go missing without consequences. This will eventually attract lawmakers, and regulations will follow. Our insight into how other exchanges operate makes us convinced that most major exchanges will have problems adapting. We strive to be compliant right from the start. This means KYC processes and verifications, but also legal and technical due diligence of the coins we list.

This is our story, and we are grateful to be standing where we are standing today, being able to offer a great service to both friends and traders.

We believe that the season of alt-coins will be around the corner which is why we want to make it even easier to trade. Nova Exchange, on behalf of Goobit Group AB, is going to refund 100% of all trading fees until the last day of August. Every Monday, starting from the 22nd of July, all through August 2019, we will refund the last weeks trading fees.

That is, effectively, 0% trading fee for all our friends out there.

Regards
Goobit Group
http://www.goobit.se/
https://bt.cx/
https://novaexchange.com/
   

Follow  :)

If this is the "official" thread, perhaps you should lock the other thread in this same section.

Regardless, thanks for reviving NovaExchange.com

The other one is official I guess https://bitcointalk.org/index.php?topic=5164576.new#new (https://bitcointalk.org/index.php?topic=5164576.new#new)

This thread should be locked perhaps.

I've just noticed there's a


then there's a

Yeap that is us.... We did it to prevent any malicious attempts :)

All good - as an extra layer of security perhaps you should check out the Stake your Bitcoin address here (https://bitcointalk.org/index.php?topic=996318.0) thread.

(but I wasn't joking when I said that I am unable to verify myself with your KYC program)

Please support my flags against novaexchange in you have also been unable to verify via their KYC process https://bitcointalk.org/index.php?topic=5187827.0


As I said on the other thread, I haven't been able to verify myself on novaexchange and now this:


Well done nova - you're going to be labelled exit scammers!

Didn't know this Exchange still exists  ;D

I remember getting an email that they were shutting down and then after they a few months, they come back saying that they are open for business. I did try logging into my account but for some reason i was told my account did not exist.
I would receive emails and notifications from Nova exchange on that very email i used for registering, but then they tell you that your account does not exist... Ironic, isn't it?  ;D

I never looked back since then.

By you "haven't been able to verify", do you mean you're unable to fill out the form or there's some sort of error when you submit your details? I contacted them via Trollbox about the issue and the mod said:

https://i.imgur.com/tON0cKO.png


They have been under a new management. Maybe accounts that has not been claimed were deleted, but still on the mailing list (not sure though). When they announced the change of ownership, they mentioned that old users should claim the account, by logging in and accept the new TOS. I did that and until now I can log in my account.

Old account "does not exist" from previous management, so created new user profile.  I could get part way through the KYC process, but it would always fail.

Classic exit scam. After Cryptopia's own they tried to accumulate customers through coin re-listings, collected KYC data and now they pull the plug.

This is the second time for Nova, only this time they not only steal the coins but also sell your KYC data. Looks like this was planned for a while.

I see. I asked the mod again about failed verification, and this is what he said:

https://i.imgur.com/QOhUdjc.png

PDF file link below ↓:
https://drive.google.com/file/d/1-MhLS4rps4dePdo08ONisSX2RPhWHw31/view

You may try doing the verification again considering his advice and with this guide. If it still failed, you can contact the MOD yourself via Trollbox for further assistance. That's the fastest way, since as you've mentioned you emailed them before and didn't get a response (or stopped getting a response).

An interesting set of responses - perhaps you can encourage them to respond here given they last posted in this, their official thread prior to the 18th of July.

---

There are at least two emails that have been sent by nova to customers, unlike the website which has kept quiet about it, the email says (and I kid you not)


Given they are dragging the chains to confirm people, until wouldn't you know it? You have to pay a fee to withdraw your coins...

I did. He said he reported it to his superior, so let's wait and see if they will respond here.

I received only one email about "New Course of Nova" and it includes that dates and fee. Not sure why they didn't mention it exactly the same as that on the site's Landing page and News page, but they did mention about the fees, so users should expect that.

I pulled out all my fund on their exchange site after I received an email to them. I worried about our KYC details out there if we are safe or they will probably sell that on the dark web. I hope they are telling right regarding what's happening now on Nova exchange.


Looking forward to their staff to make a clear statement here.

If no fraud, return money for coin listing. Otherwise it is pure scam.

luckely i head not much coins over there ... after their first decision to stop , i stopped with them also , and after re-opening they suddenly want KYC...

with do all respect , i stopped with KYC after the hack of some exchange , where you personal id lays on the street ...

I'm an old user of this exchange before they changed management. But no kyc at the time yet. Didn't know that they already require kyc for their customers as I haven't back as well after they changed hands. They should require kyc only for certain levels. If you are only a small time trader, I think no need to be strict with kyc requirements. Otherwise, it would be hard for this exchange to gain more traders let alone gain the old users.

Exactly. This was a long orchestrated scam. Now they not only have your coins, the fees for re-listing from already burnt Cryptopia victims, and the KYC data.

i think that were the problem, after restart of nova , they asked for KYD , i didnt do it , so you can say i left that exchange .. if this were same thoughts of others , so its logical action...

This kyc things is headache to all traders even a small capital traders dont want to do this.


As i remember there is a minimum widrawal to exchange even you dont make a kyc. 2btc daily limit without kyc is normal in exchange back in 2016-2018 but more of exchange now is required to make a kyc .
 bittrex also do the same requirements i remember i recieve an email with kyc thing in bittrex since i dont have balance in that exchange any more ill never do that thing.

indeed, if i am honest , i dont care if they ask my kyc info i would give it to them, but i dont trust them..

btw not only with exchanges, i am skeptical when i have to give my personal id via the net...

Then how you do consider on giving out your personal info when you do apply a job? Its just the same where we cant trust anyone for them to keep up our infos/documentation.
We do remember those past exchangers like Poloniex bought by circle and comes  heavy centralized exchange.Its reputation dips down and been replaced on most exchangers
we are currently seeing now.Same goes with this Novaexchange as i read up above it does also require small traders? They should at least take a look on whats Binance been doing.

It's sad that Nova is closing. I remember them from a goodly while back. I used to trade the most garbage of garbage coins there.
Then after they changed hands, I had to leave. Didn't figure that the new owners would drive it into the ground, but that's what appears to have happened.

I used to make faucets that would hook into their API. It was simple, and allowed me to give away "fun" coins on the cheap, and help people get into alts.

RIP Nova. You'll always have a place in my heart for all the good times, even if this was an exit scam.