mixcoins.com a scam?

[bitcoinperson]

I had a bitbays.com account, at some point (around the China crackdown I think) it switched to mixcoins.com I can't withdraw BTC anymore without KYC. Does anyone know if mixcoins.com is legit and I should risk my docs?

[AB de Royse777]

I had a bitbays.com account, at some point (around the China crackdown I think) it switched to mixcoins.com I can't withdraw BTC anymore without KYC. Does anyone know if mixcoins.com is legit and I should risk my docs?

Lol
Assuming it's a coin mixer service and they are asking for KYC!
Innovative idea at it's top :-P

Having such good domain name they could have a better business relation team.

[bitcoinperson]

I had a bitbays.com account, at some point (around the China crackdown I think) it switched to mixcoins.com I can't withdraw BTC anymore without KYC. Does anyone know if mixcoins.com is legit and I should risk my docs?

Lol
Assuming it's a coin mixer service and they are asking for KYC!
Innovative idea at it's top :-P

Having such good domain name they could have a better business relation team.

No, it isn't a coin mixer, it is an exchange.

[Jawhead999]

Yes, this is an exchange https://mixcoins.com

This exchanges looks shady because I can't open the Team, FAQ, and Privacy policy (or I only encounter about this issue?)

I don't find any victim got scammed regarding this exchanges before, but I can't say it really safe. If you think the amount of your money is worth of your identity, go for it. For small amount, I would recommend to leave it on that exchanges and don't give your KYC.

[AB de Royse777]

No, it isn't a coin mixer, it is an exchange.

I see my bad. I did not look into the site but the domain named seemed like a best suit for a mixing service :-D
Well in the case of an exchange, I do not think asking for KYC is much they asked. Almost all the exchanges do the same.

[bob123]

Actually i never heard of mixcoins before.
And a web search also doesn't result in a lot of information.

I guess it is up to you whether you want to do the KYC to get your funds back. This mostly depends on the amount and whether you are willing to accept it as a loss.

For the future, i'd suggest to only use big and reputable exchanges. Their KYC is not as shady (i.e. they don't actively try to lock you out) and their security is much better overall.

[joniboini]

This exchanges looks shady because I can't open the Team, FAQ, and Privacy policy (or I only encounter about this issue?)

Got the same issue. I also believe it is not worth it to send your identity details here, the design looks familiar somehow, so I bet they bought the script somewhere.

It is also hard to find details about bitbays, so I'd stay away from this. There's also a Reddit thread about this exchange: https://www.reddit.com/r/Bitcoin/comments/h81myk/mixcoinscom_a_scam/, might be worth to check once in a while (unless you're also the one who start the thread).

[bitcoinperson]

I appreciate all the replies. Here is some more background information from my experience. The site started out as BitBays.com I put a fraction of a BTC into the exchange. This was probably back in 2015 or 2016. So bitcoin was trading at less than $400. So even though the exchange wasn't super big, I wasn't risking that much and I determined I was willing to risk the $60 or so dollars for the arbitrage fund. They have/had this arbitrage fund which pays about 10% per year. Which sounds incredible and again I was cautious.

I was able to withdraw and deposit just fine. It seemed to me like a small (but legitimate) exchange. I also interacted with their co-founders, who has a youtube channel and LinkedIn profile. So I figured it was an elaborate scam (which seems to me that it is) or it was legitimate.

For several years they did pay out and withdrawals still worked fine. Around September 2017 I got an email that due to regulatory changes in china they were moving physically out of china and the new domain would be mixcoins.com.  This was the first big warning sign (to me). I believe it was around this time that they halted withdrawals unless you KYC.

So now between the bitcoin forks and the arbitrage fund and bitcoin apperception I have over $1000 at the exchange. Not bad considering what I put in. Support doesn't reply to me and so it does seem more and more like a scam now. Just wanted to see if anyone else had heard of or worked with BitBays.com or MixCoins.com

I will only have lost a few hundred dollars, the main "Loss" is that I thought I had more BTC coin there than I may actually have access to.

[TalkStar]

I will only have lost a few hundred dollars, the main "Loss" is that I thought I had more BTC coin there than I may actually have access to.

After hearing all from your side it pretty much clear that you are on of the oldest user of their platform and know much about than anyone else here. Based on your story it seems to me that they were running their business quite good but due to Chinese crypto regulation they moved their entire business to a new shape with new domain & country. You have already got a good amount of return from their side and in a situation like this you can provide your documents for the KYC procedure. Most exchanges are doing the same and asking for KYC submission which is quite common.

Your experience of using their platform is not so bad and you can go through their KYC process to get your fund. I wish you will successfully get your invested fund from them and start to use trusted & popular exchanges from next time. When its a matter of investment, trading or anything like that relates with money i always prefer to go for established platforms rather than new one.        

[Chrystora123]

No, it isn't a coin mixer, it is an exchange.

sorry buddy, but why did you use this bad exchange??  I just heard the name of this exchange..  I immediately go to the site and see this exchange was made late last January.  Trading activities don't even happen there, this exchange is really suspicious..

[bitcoinperson]

No, it isn't a coin mixer, it is an exchange.

sorry buddy, but why did you use this bad exchange??  I just heard the name of this exchange..  I immediately go to the site and see this exchange was made late last January.  Trading activities don't even happen there, this exchange is really suspicious..

Its been around since at least 2015...

[bitcoinperson]

I will only have lost a few hundred dollars, the main "Loss" is that I thought I had more BTC coin there than I may actually have access to.

Your experience of using their platform is not so bad and you can go through their KYC process to get your fund. I wish you will successfully get your invested fund from them and start to use trusted & popular exchanges from next time. When its a matter of investment, trading or anything like that relates with money i always prefer to go for established platforms rather than new one.        

I appreciate your reply! It does seem like I know more about the exchange than anyone else I've been able to find. Their support group isn't replying to my emails and I'm concerned about identity theft by going through the KYC process. I might end up doing that if I can determine that MixCoins is in legitimate hands, but I want to make sure my docs don't get stolen.

[bob123]

I appreciate your reply! It does seem like I know more about the exchange than anyone else I've been able to find. Their support group isn't replying to my emails and I'm concerned about identity theft by going through the KYC process. I might end up doing that if I can determine that MixCoins is in legitimate hands, but I want to make sure my docs don't get stolen.

You could try to add a kind of watermark to your KYC images.
It doesn't need to be a digital one. But a simple piece of paper with a text along the lines "This is for KYC for mixcoins" and the current date.
You just need to make sure that one can not simply remove/cut that without it being noticeable e.g. small piece of paper across your ID.

[bitcoinperson]

You could try to add a kind of watermark to your KYC images.
It doesn't need to be a digital one. But a simple piece of paper with a text along the lines "This is for KYC for mixcoins" and the current date.
You just need to make sure that one can not simply remove/cut that without it being noticeable e.g. small piece of paper across your ID.

That is a good idea! Thanks!