Recently hear a lot about BCNEX “scam” and its withdrawal issue.
I, myself also have a huge amount of coins and money that are stuck on bcnex account and cannot be withdrawn until now. I feel really worried about my assets.
Who are in the same plight as me? Any solution?
Currently there are 2 solutions. 1, you will incur a high fee to withdraw all your money. I follow the bcnex group's notifications and they are limited to withdraw 50 usdt per transaction. if you have $ 1000 then you have to withdraw 20 times and the fee will be $ 40.
The second way is to trade OTC there. Usually you have to buy BCNEX to trade at OTC, the price will be slightly different but that is the way you can get all your money back. Because the current situation of Bcnex is bad, it is possible that they have used up their funds and are trying to retain investors. Exit as soon as possible, the high fee is the money you spend to buy a lesson.
i think second option will be better for those who holds funds above $50, it is very ridiculous to limit withdrawal amount to $50, knowing fully well that each transaction will incur a fee which at the end of the whole transaction process you have spend a lot on withdrawal fee,
better to trade otc even though the price is different, this way you are getting your money out at once instead of the first option,
this is yet another reason why people should not leave their funds in all this low quality exchanges, they are not trusted and not stable, anything can happen when you list expect it,
i have learnt my lesson long time, i don't make such mistake of leaving funds on exchange anymore, too risky.