Altex exchange ROBBERY

[Neverman]

Hello,

I have no idea why, but no one is complaining that ALTEX exchange stopped working and stole all the coins there.

Can somebody tell me is there a way to return back our coins there ?

[Callanta787]

I guess no one would be that stupid to leave there coins on exchange like altex ,I've used altex to buy some coins but I don't like it at all because i sense thy wont be around for so long so I decided not to leave any coins on there

[OmegaStarScream]

It's not suggested to keep coins in exchanges for this particular reason, you don't have control over your funds, they do.

They haven't tweeted anything for months now and by looking at the site, It's showing IIS default page so they probably wiped everything.

[Malam90]

I don't have any idea about Altex exchange because i never created account like this exchanger. Blockchain exchangers like IDEX is safer than third party exchangers. In third party exchangers like Altex, you don't have fully control over your coins, Someone like admins can steal your coins and ultimately they stole people's valuable coins.

[semes]

I was going to join Altex's bounty program. Then somehow it didn't seem reliable at all. Obviously I don't know about their current situation. But I guess there's not a lot of people out there. Therefore, no sound is produced.

[jseverson]

Maybe not many people lost money? I tried looking for people preparing to take legal action but came up empty. It wasn't up long, and it wasn't exactly popular. It's very possible they didn't have much to begin with. They also suffered a hack.

You can try pursuing them on your own, but it might not be economically feasible in the least. There's no guarantee you're getting anything back after all.

[ULatmirah]

Hello,

I have no idea why, but no one is complaining that ALTEX exchange stopped working and stole all the coins there.

Can somebody tell me is there a way to return back our coins there ?

Because everyone in this business knows that risk. anonymity is an identity in this business, it delivers consequences, no way of complaining. not even legal actions.
why should anyone has idea to put coins in exchanges accounts ?! it's awkward.

[silent17]

this should be a lesson for all newbie on trading, if you are planning to trade your coin, make sure to make a research first on the trading site that you want to trade in, Make sure you check if the website has been around for a long time.

I personally trust this trading site.

1.) Binance
2.) Bittrex

I also used

1.) IDEX
2.) Etherdelta
3.) Forkdelta

but I make sure that I use metamask for my own security.

[seoincorporation]

Hello,

I have no idea why, but no one is complaining that ALTEX exchange stopped working and stole all the coins there.

Can somebody tell me is there a way to return back our coins there ?

Bad idea to use an exchange without reputation, and worst idea to leave your coins there.

Next time use a popular exchanger to do your trades and a wallet to hold your coins, another way your money will be on risk. Sorry for your loss, I hope you recover your coins, other way take it as a lesson.

[Slow death]

Hello,

I have no idea why, but no one is complaining that ALTEX exchange stopped working and stole all the coins there.

Can somebody tell me is there a way to return back our coins there ?

they have their ANN Thread: [ANN] AltEx The Altcoin Exchange !! First APT profit payout !! SUCCESS!!

you can contact this guy @BITDV

or you can open  Scam Accusation

Scam report example:

What happened::
I saw escrow.ms's lolipop thread 4 days ago and placed a order for 1000 lolipops. After I sent him payment, he just went offline and never came back. I think he's a big liar and a scam artist. Stay away from him.

Scammers Profile Link:
https://bitcointalk.org/index.php?action=profile;u=76380

Reference Link:
https://bitcointalk.org/index.php?topic=260070.0

Amount Scammed: 2 BTC/$176.40
Payment Method: Bitcoins
Proof of Payment:
http://blockchain.info/tx/b80f35cebae98fcbd8eb0e2eaea6def41f90ad01086ad830ba23094ac3c3b165

PM/Chat Logs: https://i.imgur.com/8UbLVSc.png
Additional Notes: I advise you to not deal with this user until this dispute is resolved.

[milewilda]

they have their ANN Thread: [ANN] AltEx The Altcoin Exchange !! First APT profit payout !! SUCCESS!!

you can contact this guy @BITDV

ANN thread is dead a long time ago and BITDV  Last Active:   October 03, 2018, 02:53:34 AM
without showing any signs of responses on this exchange plus the current situation of the site



Its clear that this exchange run all of the funds without saying a word.


Even storing coins on most reputable exchange do have risk on losing it, how much more into unknown ones?

[Neverman]

the problem is in regulation of these institutions. In some cases, they just decide to robe the users and nobody can't stop this.

[Slow death]

the problem is in regulation of these institutions. In some cases, they just decide to robe the users and nobody can't stop this.

I agree, and this is what I've been saying for a long time, governments should regulate exchange, because we have many cases where someone goes in the basement of your house, creates an exchange, pays domain and hosting, becomes anonymous and creates a thread in the bitcointalk and says:

"I am pleased to announce Xchange, the best exchange in the world" it's ridiculous and when someone Ask a question, the owner of the exchange responds with the following:

"Our team is working hard to make our exchange number one"

When in fact he does not have a team, he is just a person sitting on his computer and in the basement of his parents' house.

and then the same guy asks his customers to do KYC, seriously? we have to deliver our documents for exchange that are not regulated and have no license? This is looking like a world of madness to me.

[OmegaStarScream]

the problem is in regulation of these institutions. In some cases, they just decide to robe the users and nobody can't stop this.

Regulations must be done in all countries in that case otherwise anyone could open these exchanges since It's done online.

I think we should educate people more instead of asking for laws and regulations. If each one us has the basic understanding of how crypto works, on how we could keep our funds safe by having full over our private keys and not use online platforms for that purpose, and also that we shouldn't trust an exchange that its team is not known the public, the design and the effort put in the website should also be taken in consideration, the support response time or basically anything that shows how unprofessional and careless the team is.

I also don't understand why people use unknown exchange If there are others are big, trustworthy and have huge trading volume and If there is an excuse like "the coin is only being traded there" then It should be a red flag not only for the exchange but also for the coin because nothing good comes from a coin being traded in unprofessional/unknown exchange (e.g YoBit and the coins there).

[Neverman]

Lets give an example for Electronium. They advertised that Electronium is tradable on Altex exchange. They must have enough knowledge to know scam exchanges. Right ?

But when the exchange stopped to work, they told: "Ask the exchange for the money, don't blame us for your exchange choice".

In this case the education will not work. The big currency players have to manage the traders.

[Slow death]

Lets give an example for Electronium. They advertised that Electronium is tradable on Altex exchange. They must have enough knowledge to know scam exchanges. Right ?

But when the exchange stopped to work, they told: "Ask the exchange for the money, don't blame us for your exchange choice".

In this case the education will not work. The big currency players have to manage the traders.

here is where the problem becomes more complex, on the one hand we have many shitcoins that are created every day and on the other side we have few high quality exchanges that offer very good services to their clients, and these high quality exchanges do not accept list shitcoins and they charge a lot of money to list any altcoin. So the shitcoins try to list their currencies in the shit exchanges, and the result: people are the ones who lose money. It's important that people get away from shitty projects and get away from shitty exchange.

[Neverman]

we are talking for a coin with capitalization $159,982,242 USD ... 160 M dollars, this is s little away from shitcoin, but uses shitexchange.

[1Referee]

Lets give an example for Electronium. They advertised that Electronium is tradable on Altex exchange. They must have enough knowledge to know scam exchanges. Right ?

I'm not sure what initial research they perform on exchanges they plan to have their coin listed on, but I don't think they are interested in that at all.

Their main goal is to have as many smaller exchanges list their coin, build up a community, generate some decent volumes, increase their market cap, and then a larger exchange might pick them up if all the aforementioned looks good enough. That's pretty much your only shot nowadays to be listed on the main exchanges with how they started taking some responsibility in making sure they don't list blatant trash anymore.

we are talking for a coin with capitalization $159,982,242 USD ... 160 M dollars, this is s little away from shitcoin, but uses shitexchange.

It isn't hard to increase market caps when it comes to coins with large circulating supplies, and it seems that it applies to ETN as well. $0.5 million in volume for a $160 market cap coin is nothing. ETN's all time peak is ~$0.19 where after that it dropped to $0.005 which is a 97% decrease in value (currently hovers around $0.0195). If that isn't a stereo type shitcoin then I don't know what is.

[jhongzjhong]

As what I have seen now a lot of small or big exchange launching their sites, the biggest mistake on that they had the power to control our fund and we are less secure to them. Next time OP choose the exchange site that has already trusted and proven site for exchange. Not for the stranger site. Well, that is your choice to put the amount.

[q5503162]

I guess no one would be that stupid to leave there coins on exchange like altex ,I've used altex to buy some coins but I don't like it at all because i sense thy wont be around for so long so I decided not to leave any coins on there

u are wrong
I am that stupid guy
what a fucking exchange