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Author Topic: P2PB2B exchange in trouble and showing signs of insolvency  (Read 63 times)
dopey
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August 05, 2019, 09:09:36 AM
Last edit: August 05, 2019, 02:05:48 PM by dopey
Merited by bones261 (2)
 #1

I believe that P2PB2B exchange is in dire trouble and all users funds are at serious risk, here's why.

I purchased 2.6 million hempcoins on this exchange approximately 2 months ago, I then tried to withdraw them for 1.5 months with 0 luck and having support simply tell me to please wait (at least 20 support tickets open during this time).

They finally did respond to me about this matter 1.5 months later and claimed that the Hempcoin's I bought were obtained through fraud and that they had reversed all of my trades that I made months ago.

After a more thorough investigation, it appears that P2PB2B made a technical error and had been sending free Hempcoins to users. Some of these users withdrew their free coins or sold them for BTC and now due to their mistake, they cannot cover users balances.

A quick check of any Hempcoin holders deposit history on P2PB2B will clearly show free coins being deposited over the last few months (appears to be from May 20th to June 2nd) and will look something like this.

Code:
Jun 2, 2019, 11:40:02
THC
6257.9
transactionStatuses.16
Jun 1, 2019, 15:05:02
THC
1568.4
transactionStatuses.16
Jun 1, 2019, 02:40:03
THC
1574.3
transactionStatuses.16
May 31, 2019, 13:50:02
THC
1568.9
transactionStatuses.16
May 31, 2019, 06:10:02
THC
1573
transactionStatuses.16
May 30, 2019, 22:35:03
THC
3134.8
transactionStatuses.16
May 30, 2019, 11:50:03
THC
1573.5
transactionStatuses.16
May 30, 2019, 05:35:02
THC
3136.9
transactionStatuses.16
May 30, 2019, 02:20:02
THC
1567
transactionStatuses.16
May 29, 2019, 21:05:02
THC
1572.2
transactionStatuses.16
May 28, 2019, 16:55:01
THC
3129.6
transactionStatuses.16
May 27, 2019, 18:15:02
THC
1570.5
transactionStatuses.16
May 27, 2019, 16:05:02
THC
790.4
transactionStatuses.16
May 27, 2019, 08:10:03
THC
1568.1
transactionStatuses.16
May 27, 2019, 01:20:02
THC
3135.8
transactionStatuses.16
May 27, 2019, 01:20:02
THC
3134.3
transactionStatuses.16
May 26, 2019, 22:40:02
THC
3133.3
transactionStatuses.16
May 26, 2019, 16:55:02
THC
3131.7
transactionStatuses.16
May 26, 2019, 13:45:02
THC
1567.3
transactionStatuses.16
May 25, 2019, 21:50:02
THC
6256.8
transactionStatuses.16
May 25, 2019, 17:25:03
THC
3130.1
transactionStatuses.16
May 25, 2019, 06:30:02
THC
6255.8
transactionStatuses.16
May 25, 2019, 00:30:02
THC
3132.2
transactionStatuses.16
May 24, 2019, 20:05:02
THC
6261
transactionStatuses.16
May 24, 2019, 19:20:02
THC
3136.4
transactionStatuses.16
May 24, 2019, 10:55:02
THC
6260
transactionStatuses.16
May 24, 2019, 02:15:02
THC
12507.1
transactionStatuses.16
May 23, 2019, 12:45:02
THC
6262
transactionStatuses.16
May 23, 2019, 11:40:02
THC
12509.2
transactionStatuses.16
May 23, 2019, 10:40:01
THC
6258.9
transactionStatuses.16
May 23, 2019, 07:40:02
THC
12511.2
transactionStatuses.16
May 22, 2019, 13:25:02
THC
12505
transactionStatuses.16
May 22, 2019, 12:10:03
THC
25009.6
transactionStatuses.16
May 20, 2019, 22:35:01
THC
25005.5
transactionStatuses.16
May 20, 2019, 11:15:03
THC
50006.4
transactionStatuses.16
Mar 29, 2019, 19:40:02
THC
20000
Successful
Jan 31, 2019, 11:30:03
THC
100000
Successful
Jan 31, 2019, 09:50:01
THC
50000
Successful
Jan 31, 2019, 09:25:02
THC
500
Successful


After announcing that they had reversed my trade I was told that I could withdraw my refunded BTC.

Well, I have been trying to withdraw for 5 days now and opened 4 support tickets and contacted them by email 3 times. They have for some reason disabled my account from being sent a confirmation withdrawal and I cannot complete the withdrawal. This feature was working fine before and I did successfully withdraw a small number of coins about 1.5 months ago. Now for some reason, it is mysteriously offline on my account.

Again, we are seeing the exact same scenario and response from support "please wait".

These issues and lack of any sort of response from P2PB2B support to me or to the community to address these claims lead me to believe that something is very wrong.

If Hempcoin holders were sent free coins.... Did they make this mistake with other currencies as well?
Is this why users cannot withdraw their funds?


This is a very dangerous exchange to trade with at this point in time and until they address these claims and evidence I would not recommending depositing any funds or you may have your funds held without any sort of explanation or support.


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fratoshi
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August 05, 2019, 09:28:33 AM
 #2

Yes, they seem insolvent.
Just take a look at the BTC - USDT market.
The last trades are between the spread, and there are no orders on the orderbook, total scam exchange with fake volume
http://prntscr.com/oohh1v

Fratoshi's Scam List | Tradesatoshi | Livecoin | Cryptobridge | P2PB2B | Coinsbit | Poloniex | VIVA-e | CRYPTEX | Sistemkoin | FreeWallet
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August 05, 2019, 12:11:48 PM
 #3

I believe there are several ongoing scam accusation against P2PB2B exchange is still alive in this board. This one ads up a new one.

After some search:
https://bitcointalk.org/index.php?topic=5169364.0
https://bitcointalk.org/index.php?topic=5163367.0 (came from you)
https://bitcointalk.org/index.php?topic=5166081.0
https://bitcointalk.org/index.php?topic=5166605.0
https://bitcointalk.org/index.php?topic=5160442.0
https://bitcointalk.org/index.php?topic=5166049.0
List goes on and on. So there are nothing much to say about them.

There profile link (forum): https://bitcointalk.org/index.php?action=profile;u=2509426

There is a flag against them : https://bitcointalk.org/index.php?action=trust;flag=477 (feel free to support)
I also tagged them.

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