What is Happening with BitMax.io?

[funchiestz]

With DEEP delistyling yesterday, BitMax.io is moving. Against Bitmax, successive accusations by projects began to come.

I just came across this article;
https://lunardigitalassets.com/news/regulatory/bitmax-exchange-accused-by-projects-of-illegal-pump-and-dump-schemes/

Needless to say,  many projects are very upset at BitMax; not only IEO projects. Projects duped into paying for their “market making” services as well. I myself am having a hard time figuring out if it’s Shane Molidor’s complete incompetency, or if BitMax is willingly participating in these pump and dump schemes designed to kill new projects. Several of the BitMax IEO victims are allegedly looking to join forces to consider legal options; don’t be too surprised to see a visit from the SEC or the NYSDFS at BitMax’s headquarters in NYC.

DEEP claims that no promises have been kept to date and that no money has been transferred to them from the token sale. I was following Ferrum Network for a while and almost all FRM community was complaining about BitMax market making. I guess, Bitmax was doing something not good.

I specifically wanted to open this topic here to warn those who have BTMX token. Waiting for the comments of those who have knowledge about the subject.

[semes]

Recently, there were many traders complaining about Bitmax. When such bad smells start to spread, it can be inevitable to continue. I've been away for a while. But thank you for letting me know. I had some BTMX. I sold it, I left the exchange.

[asriloni]

The same case with coineal the exchange site was doing shady things to its IEO team. Bitmax is not even want to transferring a single cents the money from the crowdsale to the ico team.
This problem already happened with coineal too. Both are crap exchange sites. It looks the problem has begun from the bitmax team that has already broken the agreement with the deep team.
As far as I know, bitmax must have already refused to transfer some portions of money that already raised from IEO to the DEEP team, but bitmax is not want to send the money to the team's side.
This problem happened with so many icos that runs on bitmax and coineal.
These IEO are being scammed by exchange site because they must have paid the listing fees and then after they have done with the crowdsale and raised enough money and exchange sites are robbing their money.
Shitty exchange site like bitmax and coineal must never exist again.

[funchiestz]

Recently, there were many traders complaining about Bitmax. When such bad smells start to spread, it can be inevitable to continue. I've been away for a while. But thank you for letting me know. I had some BTMX. I sold it, I left the exchange.

I sold mine also. I didn't even wait unlock process.

The same case with coineal the exchange site was doing shady things to its IEO team. Bitmax is not even want to transferring a single cents the money from the crowdsale to the ico team.
This problem already happened with coineal too. Both are crap exchange sites. It looks the problem has begun from the bitmax team that has already broken the agreement with the deep team.
As far as I know, bitmax must have already refused to transfer some portions of money that already raised from IEO to the DEEP team, but bitmax is not want to send the money to the team's side.
This problem happened with so many icos that runs on bitmax and coineal.
These IEO are being scammed by exchange site because they must have paid the listing fees and then after they have done with the crowdsale and raised enough money and exchange sites are robbing their money.
Shitty exchange site like bitmax and coineal must never exist again.

OMG! Coineal also? Is this officially happen or just you?
Many projects organize IEO to raise money. However, I think they do not understand the importance of the exchange they use in doing so for the sake of their investors. Many projects and investors are having a hard time because of Bitmax. I've never traded with Coineal, but I didn't know that. What I learned was so good!

[vycl87]

I am Turkish CM of Ferrum Network. And as we know, there is no problem with FRM yet in BitMax.io
It is just claimed. Ferrum team dealing with it and I think, they will publish an announcement about it. I am sorry for other projects investors.

[Kvalentine]

With DEEP delistyling yesterday, BitMax.io is moving. Against Bitmax, successive accusations by projects began to come.

I just came across this article;
https://lunardigitalassets.com/news/regulatory/bitmax-exchange-accused-by-projects-of-illegal-pump-and-dump-schemes/

Needless to say,  many projects are very upset at BitMax; not only IEO projects. Projects duped into paying for their “market making” services as well. I myself am having a hard time figuring out if it’s Shane Molidor’s complete incompetency, or if BitMax is willingly participating in these pump and dump schemes designed to kill new projects. Several of the BitMax IEO victims are allegedly looking to join forces to consider legal options; don’t be too surprised to see a visit from the SEC or the NYSDFS at BitMax’s headquarters in NYC.

DEEP claims that no promises have been kept to date and that no money has been transferred to them from the token sale. I was following Ferrum Network for a while and almost all FRM community was complaining about BitMax market making. I guess, Bitmax was doing something not good.

I specifically wanted to open this topic here to warn those who have BTMX token. Waiting for the comments of those who have knowledge about the subject.

I am not surprised because we have some power people backing up few crypto exchanges, a good example is that idax exchange, they treated many IEO Projects badly and they silence them, many of these projects are not even bold enough to tackle the exchange until cryptomarketads team faced them but the battle was lost when the team later find out that the exchange have some powerful people backing them, they are given option of opting out or joining the exchange at all cost

[asriloni]

The same case with coineal the exchange site was doing shady things to its IEO team. Bitmax is not even want to transferring a single cents the money from the crowdsale to the ico team.
This problem already happened with coineal too. Both are crap exchange sites. It looks the problem has begun from the bitmax team that has already broken the agreement with the deep team.
As far as I know, bitmax must have already refused to transfer some portions of money that already raised from IEO to the DEEP team, but bitmax is not want to send the money to the team's side.
This problem happened with so many icos that runs on bitmax and coineal.
These IEO are being scammed by exchange site because they must have paid the listing fees and then after they have done with the crowdsale and raised enough money and exchange sites are robbing their money.
Shitty exchange site like bitmax and coineal must never exist again.

OMG! Coineal also? Is this officially happen or just you?
Many projects organize IEO to raise money. However, I think they do not understand the importance of the exchange they use in doing so for the sake of their investors. Many projects and investors are having a hard time because of Bitmax. I've never traded with Coineal, but I didn't know that. What I learned was so good!

You can read more about that
https://finance.yahoo.com/news/crypto-exchange-coineal-absconds-cybr-125010621.html

This is just a single case from coineal but a lot of teams have already complained so many times to the coineal.

I will never try to participate in IEO that created by manipulated exchange site.

It's already happened with some projects.

It looks like the rest are still not yet reporting the result of IEO in coineal to the public.

https://finance.yahoo.com/news/ieo-investors-lose-millions-funding-142110114.html