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Author Topic: Cryptoxchange seems to be commiting fraud.  (Read 968 times)
billysweird
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November 15, 2012, 12:05:47 AM
Last edit: November 19, 2012, 12:01:02 AM by billysweird
 #1

I have worked with cryptoxchange before and made deposits/withdrawels fine with massive delay. However at this time i'm attempted to make some withdrawels on my account both on the 6/11/2012 and the 7/11/2012. I'm completly verified, with all my details correctly put into their system for a local bank transfer out.

Now my first issue is that they state that it takes 4-7 days to withdraw the money, it is currently the 15/11/2012 in australia and i have seen nor hide or hair of my money withdrawel. Second it seems they have changed my withdrawel booking dates on both of the withdrawels to the 11/12/2012, now this is commiting fraud.

I know a little about australian law, and these guys are registered with the australian securities in commerce, which means when they commit fraud they are liable to be reported to the australian finance ombudsman, and if a report comes through with evidence it means these guys will have to prove they are not solvent and immediatly pay out all debts owed. If not the ASIC will shut them down  they will go into liquidity, all assets sold and they will never be able to run a company in australia ever again while also if they have a directors agreement they may be liable for damages. Now i don't want to have to report them for posting policy in which they themselves do not abide by, and commit fraud against, Or for breach of contract but if i don't get my money i may have to.

Also i might add if there are any other australians who are having the same issue would like to discuss this and document/report evidence the company could be liable for a class action.

Edit: Let me clarify they are commiting fraud because they clearly state a policy of a transaction period of 4-7 days, first of all by not completing the transanction in the time period and second by changing withdrawel dates this is commiting fraud.

UPDATE: Still no word from customer support after 7 attempts to contact them, it has now been 2 weeks or 13 days since i made my withdrawel claim and still nothing. I think crypto x Change may have gone to scamming so i am now going to report them to both the police and financial Ombudsman.
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btcnut
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November 25, 2012, 02:16:56 AM
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I have worked with cryptoxchange before and made deposits/withdrawels fine with massive delay. However at this time i'm attempted to make some withdrawels on my account both on the 6/11/2012 and the 7/11/2012. I'm completly verified, with all my details correctly put into their system for a local bank transfer out.

Now my first issue is that they state that it takes 4-7 days to withdraw the money, it is currently the 15/11/2012 in australia and i have seen nor hide or hair of my money withdrawel. Second it seems they have changed my withdrawel booking dates on both of the withdrawels to the 11/12/2012, now this is commiting fraud.

I know a little about australian law, and these guys are registered with the australian securities in commerce, which means when they commit fraud they are liable to be reported to the australian finance ombudsman, and if a report comes through with evidence it means these guys will have to prove they are not solvent and immediatly pay out all debts owed. If not the ASIC will shut them down  they will go into liquidity, all assets sold and they will never be able to run a company in australia ever again while also if they have a directors agreement they may be liable for damages. Now i don't want to have to report them for posting policy in which they themselves do not abide by, and commit fraud against, Or for breach of contract but if i don't get my money i may have to.

Also i might add if there are any other australians who are having the same issue would like to discuss this and document/report evidence the company could be liable for a class action.

Edit: Let me clarify they are commiting fraud because they clearly state a policy of a transaction period of 4-7 days, first of all by not completing the transanction in the time period and second by changing withdrawel dates this is commiting fraud.

UPDATE: Still no word from customer support after 7 attempts to contact them, it has now been 2 weeks or 13 days since i made my withdrawel claim and still nothing. I think crypto x Change may have gone to scamming so i am now going to report them to both the police and financial Ombudsman.

Have you had any luck with them? I have $490 stuck in my account there.

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November 25, 2012, 06:01:17 AM
Last edit: October 13, 2015, 05:16:05 AM by espronceda
 #3

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November 25, 2012, 06:37:29 AM
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Cryptoxchange is a well established website. I hope they don't follow the path of other exchange companies...

Maybe you missed the news - the owners are currently in the process of shutting down this exchange service (and I think it says as much on their website's main page).

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

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November 25, 2012, 07:43:34 AM
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I was able to withdraw all my 0.4 BTC from there today. But withdrawing USD as mtgox voucher was not possible (temporarily down, was the message)
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