Bitcoin Forum

Hi guys,

This is my first post so apologies if its not in the right place. I recently came across an exchange called CAEX - (the url is cave.exchange) and there is an altcoin there called CBT, which looks like a token of Cyclebit token https://www.cyclebit.io/

The CAEX platform looks a bit fishy so I wanted to ask the community what they think. I was able to withdraw and deposit small amounts of USDT to the platform from Binance.

So my question is, do you think this could be a scam exchange platform? I also couldn't find CBT anywhere else but on the CAEX platform.

Thank you for your input!

This is the first time I heard about the CAEX exchange, and in terms of language it is a new exchange that originated in China.
I don't know if it's a scam or not, because I've never tried it. You need to try registering and see inside whether this exchange keeps high fees for withdrawals, otherwise you can try a small amount first to prove this is a scam or not.

I don’t see this exchange on Coinmarketcap or Coingecko, so I’d better not to use it but if you still need to trade your CBT then you have no choice but to use it or you can wait for another exchange listing. I’m not familiar with those project, if you think its a scam then don’t use it. New tokens tend to list on a smaller exchange but it doesn’t mean its a scam, you still need to confirm it.

Thank you for the input guys, I have actually tried withdrawing and depositing from CAEX to Binance and visa versa, in the process CBT already went up 38% which was surprising and it works quite smoothly.

My concern is that they might be drawing you in by allowing a working system for small amounts then lock you out when you deposit a larger amount. Is this a common thing across the community?

Hey man I’m thinking of putting some USDT into this CBT as well. How are u doing with CAEX? Have u managed to withdraw coins out from the app?thanks

Never heard of them. As a rule of thumb, if you haven't heard about an exchange, and no one legit is talking about it. Consider it as a gamble with huge risk and bad reward ratio. Question is, why would you want to use it? And just because something has a same ticker as a token you are looking for, doesn't mean it's a same token.