Bitcoin Forum

One more exchange going to scam soon that's  sistemkoin.com from Turkey, and 26 rank in coinmarketcap. Read this statement about sistemkoin fraud https://t.me/HustleAppChat/34399

I don't need to read the statement, sistemkoin is a failure already because I was a victim of their dubious acts, I won't be surprised if the exit scam just like p2pb2b exchange, there is no single new exchange that do better since 2018

There were posts before about that exchange is a scam, that would be enough to stop using that exchange. A lot of warnings has been given.
(https://bitcointalk.org/index.php?topic=5093594.0)
(https://bitcointalk.org/index.php?topic=5141673.0)

This is  not the first post about the scamming of sistemkoin.com. I don't know how they managed to rank 26 in CMC but they have a lot of acquisitions of scamming people. HUSL should research about this shitty exchange before launching their IEO on this scam exchange. I must say, HUSL has poor management committee.

By the way please move the thread to marketplace.

Indeed, sistemkoin has a bad reputation so I never used it at all, other than a scam it looks like the exchange also has fake volume. I have blacklisted it and told my friends not to use it, hopefully the users will decrease and the exchange will finally close the operation.

There are already several scam accusations in the forum itself against Sistemkoin exchange. If only people did a simple google search before trusting their coins to such exchanges, it would have saved them from a scam. If you are a newbie, stick to the popular exchange and wait for your coin to get listed, if you are an expert, research before depositing.

It's not only that but there was a bunch of complaints and accusations for this scam exchange site. So many people have made awareness to avoid use this crap exchange site. That's similar as p2pb2b too.
I believe this exchange site will become a scam but it has been running scam scheme for a long time ago since it was created.

Sometimes most people wait till they are hit terribly or scammed by some of these exchanges before they learn. There have been many bad and scam reports about this exchange and I wonder why some people are still using it. As for me, once a bad report is made about an exchange and it is justified with enough proofs then there is no need to use it again than to move on, Instead of risking my funds.

So they finally show their true color. This already come from mile as sistemkoin.com exchange had a horrible reputation and many users already stop using that exchange. Though one thing I can't understand how exchange with that bad name still able to rank at 26 on Coinmarketcap? Why there are people still using that exchange?

It is clear that the Sistemkoin exchange has a bad reputation from its users from holding funds to an IEO that can be manipulated too and therefore don't trust the exchange because the trade there doesn't have a good enough volume and can even be manipulated if someone wants it.

New projects or exchanges aims for earning big money,  even if the team as a good aim once the aim start going side ways they won't want to exit empty handed

There have been a lot of posts saying this is a scam exchange, and there are a lot of people who have become victims of this exchange. I won't need to read any other posts, obviously this is a scam exchange and we should stay away from it

This same exchange does not only have bad reputation but has been tagged a scam exchange many times. To be frank, for the exchange to be functioning till now shows that there are many more gullible users who are yet to come in terms with what's happening within the exchange and it is indeed worrisome. In the same way, I don't trust any project listing there. I wish people will understand the risk their funds is exposed to hence forgetting about this exchange sooner than later.

Sistemkoin is like vindax, p2pb2b, idax and other bad exchanges with fake volume, new projects need to avoid such bad exchanges, traders too, you can loose your funds trading on these exchanges

Thanks for the warning. Sistemcoin did not inspire confidence and therefore did not begin to trade there. On P2P, trading went well and the output was productive. The withdrawal fee is high.

You people still trust coinmarketcap for your exchange rankings?

It's pretty obvious that most of the top exchanges are just inflating their volume using wash trading.

Otherwise how the F would LBank and other crap exchanges ever exceed Binance in terms of volume?

stay away from low ranked exchanges and you wont get scammed, very simple!

Who dear goes on sistemkoin exchange for any serious business. Well, it's possible they lied about the sales, perhaps because they wanted to extract investors. Also, they might have told more lies upon lies. The amount they told the project team that they sold could have also been a lie. It 's been long I used sistemkoin, which was in the days that airdrops were so lucrative.  I also had some little problems then but was later resolved.
The project team that chose sistemkoin should have also researched, to know what they should go for.

Damn, this is so bad! Why are all these exchanges ending this way, can't they at least learn from some of the major ones in this industry and build up to be like them. They rather prefer absconding with the little monies that projects have raised than building themselves up like Binance and Kucoin who are now making profits everyday!

I think all places of exchange can happen like this, just waiting for the time when it happened because so far there have been many exchange places that started to scam like what happened at the BCNEX exchange place and other places of exchange that have started scamming all of its traders.

Why everyone use sistemcoin ? Even not scam I will not use exchange which not familiar in my ears. This is really help me out. For me using new exchange or not familiar exchange in usuall only make me worried more. At this time so many exchange change to bad reputation and ended with exit scam. We need more be careful.

Agree, if for trading or transacting crypto on exchangers, I think there are many exchangers who already have a good and trusted reputation. It's better to use a reputable exchanger because it involves the security of our funds because using an exchanger is not well known, it only makes it difficult for us to withdraw

This is getting serious. All these low volume exchanges are becoming dubious in their operations. Sooner than later, we wont have any more shit exchanges again. The earlier these exchanges get exposed, the better for investors and the cryptocurrency space generally.

I stop using Sistemkoin long ago after the tokens I was trading mishap causing investors great loss, I felt the exchange is not doing enough to protect the community. I have now stick with top exchanges and never leave any huge fund on any. The allegation is weighty and this should be investigated and published for future and progressive reference.

I haven't used that exchnage many times but I have used it sometimes for trading. There was some issue with my withdraw but it was solved after I contact their support. I also found their support active and helpful. I am not telling you are wrong and its a very good exchange but I am just telling my experience with that exchange so that you can understand.

You are true I have also watched a video in which when Sistemkoin has lost more than 01 BTC during withdrawal and the Sisteemkoin did not recover it. Thanks to sharing important info.

This was what Idax did to some IEO sold their tokens, sized their fund and gave them $200, they cry and after much articles scam accusation, they reach a backdoor agreement but project never survive after. I avoid all these exchanges, yet fake volumes are been reported by CMC.

I have heard about sistemkoin exchanges that exchanges are fraudulent, many people experience fraud there and most of the trading volume there is fake. I hope that the sistemkoin exchange can be stopped immediately, to minimize the risk and no one else experiences fraud at that exchange.

In these case we should stay away from this kind of exchange. I am not against new exchange popping around but those who are seeking for a secured and legit exchange, choose some established exchange already. It is hard to give our trust to some exchanges like this one. They just created it to exit scam using their own new exchange. Maybe the OP can create a thread regarding this one with proofs of course in Scam Accusation thread.

Thanks for the warning but this exchange has a lot of complained by users way before and its only natural that an exchange manipulating an inside job ieo and trading could be dangerous and potential for fraud. So they are from turkey? Probably sec is crucifying them now for their illegal activity. Is this exchange still running? Thats the problem in crypto if an exchange has a lot of wrong doing they can still continue their operation, see yobit scam exchange? Up and running without any hassle inspite of all their proven scam activity.

yes, SistemKoin is already a scam. and it is clear that the SistemKoin is a shady exchange, many IEO projects are listed there and also fail. apart from that we all know that the trading volume there is completely fake. stay alert about new exchanges.

There are many reasons for people to go to a sistemcoin exchange. One of them is to exchange the results of the bounty that has been done, because most of the altcoins that are on that exchange are not popular and are a hot spot for scams.

I used this exchange a couple of times and it seemed that there were no problems, but after some time I couldn’t log into my account and could not restore it and just decided not to use this exchange anymore, also my friends said that it’s better not to trade at all on this exchange.

that is because the performance of bounties now are getting poorer but before bounties only list coins on a good exchange like livecoin  , mercatox , forkdelta , etc   .  

also not only bounties is the reason why people traded on new exchange but also if they buy a pump and dump coin  because mostly pump and dump coins are being listed on a new exchange    .  good exchange are picky and wont just list coins that can come and go , that is the reason why  .

I have never heard of this exchange before and I have never used this exchange, but thank you because with this information, I can know and everyone is also moving away from this exchange

Since the service you mentioned is a Turkish service and I am Turkish, I would like to write the rumors and allegations found in the local forum here. Unfortunately, the service you mentioned has never been a good success since its establishment and has had negative results from many Turkish users. The main reason for this was that both the project team was not doing successful works and it could not provide confidence to its users. On the other hand, I think that not being preferred by the citizens of his own country is another factor proving how poor the service is. I would also like to remind you that there is a lot of gossip about the service, there is always a risk of sinking, and there is a risk of sudden disappearance from the market overnight. I recommend that you, valuable investors, do not use this service because this service is unfortunately the worst and worst service among Turkish services. They also have a forum membership here, I am curiously waiting for any explanation.

Yes, but I am a little surprised why you have never heard of this exchange, even though you entered this forum in mid 2017, while the exchange system was launched in early 2018, and is already in coin marketcap too.

https://coinmarketcap.com/exchanges/sistemkoin/

I don’t understand who uses all these second-rate exchanges. I know this exchange and I am no longer surprised when we receive news that the exchange scammed its users and stole money. so many posts has already been written that we should not trust any exchanges

What you have heard is absolutely correct, they are a scammer exchange and they stole a lot of money from investors. Stay away from these exchanges as far as possible, and I also hope they will soon be caught and stopped scamming investors in this market.

It is better to avoid exchangers that are indicated as scams. I think the exchanger who is long in the process of withdrawal or has a high transaction needs to be abandoned because there are many exchangers that provide more facilities than other exchangers and are also more reliable

if it has happened like this then it is definitely declared as a scam exchange place because the beginning of the scam process has already happened as happened at the BCNEX exchange place which has been recorded as a scam exchange place because it prohibits traders to make withdrawals while for deposits still allowed and it will be giving traders the traps.

Yes.. Sistemkoin is totally scam, my funds get frozen in there since 4 month ago, i don't know why. already sent email to them, but always same answer and useless.. Luckily my funds only 0.001 btc in sistemkoin  :D

It’s good that on this forum people write about such problems. I don’t want to lose my money so easily. I hope I do not get on such an unreliable exchange.

Try to check on this forum about sistem coin and I found some accusation against them, you can check them here

1. https://bitcointalk.org/index.php?topic=5141673.0
2. https://bitcointalk.org/index.php?topic=5230892.0
3. https://bitcointalk.org/index.php?topic=5141669.0
4. https://bitcointalk.org/index.php?topic=5054111.0

Be carefull with this shady exchange or you will lose your money when you deal with it.

I do not get why people are using such unpopular Exchanges like Sistemcoin. Just use top Exchanges like Binance, Huobi or Coinbase and you will not have problems with scam Exchanges.

everyone has different views, or maybe the habits that we often see are mainly lay people, I mean, ordinary people easily get deceived because limited knowledge on the other hand does not research more about the exchanges they want to use.

no wonder because I think that exchange often manipulates the volume and exchanges that do this must have a certain purpose and if it ends up being a scam it is very reasonable, but it's a bit unfortunate because if they are serious it might be used by Turkish citizens to trade cryptocurrency.

my experience when seeing a place of exchange that uses such a method is manipulating the trading volume so that many traders make exchanges at the place of exchange then it will make the place of exchange crowded only for a moment because in the future there will be many problems experienced whether it be from withdrawing funds or losing assets that are suddenly clear, you should be able to be careful when exchanging with your assets.

This one is using bot and almost all of the markets were running by the bots. The volume is totally fake. There was no even a lot of traders who actively trading on there. This exchange site already confirmed as a scam exchange site. There's no need to argue about this exchange site anymore.

Cryptocurrency scams are different from those where good intentions are the only driving factor. Even a centralized crypto-asset or bank account will need additional security steps. An even worse deal of fraud involves selling cryptocurrencies as 'investment products' on over-the-counter markets.

Additionally, crypto-entrepreneurs are generally ignorant of the dangers. The supposed convenience and security of 'investing' in cryptocurrencies do not prove that the scheme is free of risk. Crypto investing is like an arms race in a pit of steelworks. To a skilled industrialist, either the process of mass production is more efficient, or it must be cheaper, or people must be taught the real reason why they need their products.

Thanks for your links, obviously this is a scam exchange when there are too many complaints about them. Be careful when using this exchange, and it is best to stay away from it to be safe.

Undoubtedly its clear that the Sistemkoin exchange has a bad reputation from its users by far . After having a  bad report is made about an exchange its not a good idea to stay with that with some penny trust .Be- carefull of risking my funds and we should stay away from it before its to late .

I am currently experiencing an 18 Day delay met with the same were upgrading and maintaining the BTC wallet.

They have now blocked me from following them on twitter also although i can log into my account.

As this has now gone on longer then my deadline. I informed #sistemkoin that a telegram would be created.

This group is to collate all issues and understand how widespread the #btc or withdrawal problem is.

Please join and share your problem https://t.me/sistemkoinunofficial

We can tackle this together. I do have resources at my disposal and lots of hands make for lighter work.

Kind Regards

Mike