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Author Topic: COINBE - Scam EXCHANGE  (Read 125 times)
Paxon
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February 03, 2019, 07:47:19 PM
 #1

Hello, are there people who got stuck their funds on this exchange.
I found some people - including me - who are waiting for withdrawal from them over 1 month....
Are there any legal ways to sue that exchange and get money back?
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Links84
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April 14, 2019, 09:37:08 AM
Last edit: April 14, 2019, 09:56:29 AM by Links84
 #2

YES  COINBE = SCAM

I did the the regrettable mistake to send some tokens on their exchange.

There is no SUPPORT at all, the admins on the Telegram are there but don't even answer simple questions. Even DARIO Ceo at coinbe don't answer.

I have deposited some DIM on their exchange but still nothing credited after several days. Now I just want to leave this shitty exchange with all my tokens and to prevent others from paying attention.


For example when you can take a look at the mosaic transaction (at their own address), the last withdraw date from the 2019-01-09.

http://explorer.nemchina.com/#/s_account?account=NCIAU7SMHG47JC6FKZ2ZVBSHIKLKEUBLC36BZSW3

The situation is scandalous, when you are not able to handle the deposit, at least you you should close it !
When you encounter problems you must at least communicate about the situation !
Nothing at all they just let things get worse than ever.

It's either pure incompetence or a scam, in both cases it is not good to go there.


Extra informations :

From CoinMarketCap :  We have received reports that users are having issues receiving withdrawals from this exchange. Please be careful with your funds.

Their Telegram : https://t.me/CoinbeSupport

Their twitter is abandoned.

They don't even answer from their Facebook account.


Coinbe address :   Lootsa tn 5, Lasnamae
                           Tallinn, Harju country, 11415, Estonia

Coinbe e-mail support :  contacts@coinbe.net   and  kontakt@coinbe.net

Coinbe discord link : https://discord.gg/JbJ46Rf                (The link don't even work)



Everything is RED with them ! They do nothing to improve even to modify a simple information on their exchange.

ddss
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May 27, 2019, 10:57:51 AM
Last edit: May 31, 2019, 11:53:16 AM by ddss
 #3

Yes, I can confirm that Coinbe is stealing funds from the customers.

This is what I can share about it, most of the info is from personal experience and their Telegram support group which is (strangely) not mentioned on the exchange pages, but is still official:

They always had issues and even when all worked, some coins like PIVX, BCH, ADA, XMR couldn’t be withdrawn sometimes for days or weeks.

Sometime in December 2018, they stopped withdrawing BTC, the support claimed that there is a problem with the wallet.

Larger problems appeared in January when more people reported that they couldn't withdraw any of their funds.

On January 23th, Darius (Dario) Fryc, the owner of the exchange posted:
Quote
Dear Partners and Coinbe clients , we have some technical problems . we will give next weeek oficial statment ,all coin are sure on cold wallets
At the end of January they stopped all the withdrawals, while still accepting deposits and without any info about the problems posted on the exchange.

On February 9th, Dario posted new message claiming that he is the person responsible for Coinbe, that they had to change the support team, all the coins are safe in cold wallets and that the withdrawals should start in a week. This is the start of their cycle “announcement - silence - lie”.

On February 14th, Dario posts a message:
Quote
Good evening We start withdrawal today
He LIED on that one. Again he claims that they need one week.

After several days of silence, on February 20th, he posts a signed statement in Polish and English language on the Telegram group and Facebook page https://www.facebook.com/coinbenet/photos/pcb.1192132017623004/1192131910956348/?type=3&theater, still no notice on the exchange itself, claiming that the withdrawals will be processed by the end of the month. - Another LIE

On February 28th, he posts new LIE:
Quote
Good morning ,after long procedur for new developer team to take over all function , Coinbe will begin today withdrawal coins .Please be patient They will be start today

On March 1st, Polish KNF published a notice of suspicion of committing a crime on Beatcoin.pl, company running Coinbe.net (https://www.knf.gov.pl/dla_konsumenta/ostrzezenia_publiczne?warningName=coinbe&warningTypeId=all). After that, they moved the headquarters to Estonia.
On March 2nd, since no withdrawals started yet, Dario promised to give an interview next week, probably to explain, but that also never happened.
On March 6th, first statement since the problems appeared was posted on the exchange, again that the withdrawals will be available within a week - another LIE.

On March 13th, another info was posted on the exchange, claiming that the issues were caused by the illegal actions of the former Technical Director, that the withdrawals will be available on 14.03.2019. and that the users will be asked to go through the KYC again. Another LIE regarding the withdrawals.

In the meantime, they integrated two ERC 20 tokens: PLUS and ENX. At first that looked like some progress, but it is actually another trap, at least for PLUS holders. The volume is fake, like for most of the other pairs on Coinbe, but if you want to withdraw PLUS, minimum amount is 1000 PLUS with fee of 100 PLUS. With current trading price of around 255$ (obtained from Coinbe), that is 255000$ minimum for withdrawal with 25500$ withdrawal fee. How stupid is that? Even with normal price of around 70-80$ it is stupid. So good luck to anyone who sends PLUS to Coinbe.

On March 18th, I did perform another KYC since the Coinbe support requested it from all the customers. They claimed that withdrawals will start upon the KYC verification - another LIE. Four days later they requested additional image for KYC, I guess just to buy more time. My KYC was approved 17 days later, but still no withdrawals were processed for me.

On March 20th, Dario posted few messages on the Telegram group regarding the Mallorca Blockchain Days and he claimed again that everything is working perfect, which is another LIE. Since then he did not post any messages on the Telegram Coinbe support group, which only has “support” part in the name, not actually providing any support and no Coinbe representatives are replying there anymore.

Their delays were justified by the change of the support team, then checking customer accounts and KYC and the internal investigation about the manipulation caused by the Coinbe staff.

From March 26th, some people reported that they got their withdrawals, mainly KBC and some BTC (if you check here https://www.walletexplorer.com/wallet/00169be6aeab1acd, it looks like they need to collect BTC in order to pay out). Still, many people did not receive their funds and some are also waiting for their deposits too.

At the end, they blocked my account and said that they will recalculate my funds and send to me what I initially sent to the exchange, regardless of all the trading I did in the meantime. They say that I traded at the irregular price. I was trading only through the exchange interface and did fill only the orders that were offered through the exchange. So, basically, I only used the exchange in a way I am supposed to.

They even manipulated the price to lure people into sending the funds there. I did send KBC there to sell at better price and I know other people that were caught in the same trap. Even now you can see some traps on the Coinbe exchange which will attract someone to transfer the funds there for better price:

Symbol Coinbe bid Price on other exchange Difference
DIM/BTC 0.00000021 0.0000000747 64%
IPL/BTC 0.00000107 0.0000004076 61.9%
EXY/ETH 0.00014300 0.0000808 43.5%


Currently there are other pairs with large difference on the price, I guess those are “irregular” prices on Coinbe as they refer to them. The support said that it was my choice to trade at “irregular” price, so their credibility as exchange and the orders on it is basically non existing. What you see on the exchange can be declared as irregular by them at any time and it is your fault that you trusted the exchange. If you want to get that 60% profit - think again! Also if you set low bid or high ask orders and they get filled, you might loose your money.

Also their incompetent support shared my personal detail with other customers violating their own Privacy Policy, article 5. I assume that is illegal.

So, why is Coinbe still operating? To get more funds from uninformed users, to provide fake volume for XIN and manipulate its price. The owner has a picture with Infinity Economics baseball cap showing thumbs up on his profile, around 99% of the complete XIN trading volume originates from the InfinityCoin Exchange and Coinbe together. So, many billion XIN orders are processed below ask orders and above bid orders, manipulating the price. You can see wash trading on most of the coins there, just compare last orders and the orderbook. They even admitted doing the wash trading here: https://forum.bitcoin.pl/viewtopic.php?f=55&t=22468&start=60#p420941 calling it “market animation”. The post is a bit old, but still applicable.

The support only responds that there is internal investigation, no reports or conclusions about it, no police involved as I understood. The investigation is about the illegal actions of their own staff and they are punishing their customers. At the end, if they don't provide any official reports from this internal investigation proving that users created any isues, their actions can be considered as stealing. Also a police report would need to exist if there really were illegal actions.

So, my advice is STAY AWAY from Coinbe!!!
Paxon
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September 08, 2019, 09:36:31 AM
 #4

What can we do, till today - I have not got my money
fratoshi
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September 08, 2019, 10:58:45 AM
 #5

Stay away, i can confirm COINBE is a Scam Exchange
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