[SCAM] ChainX Exchange & Emjac IEO

[Flush-Grey]

1. ChainX is a wash exchange - 9th on CMC, that has climbed on recent weeks. ChainX is a new exchange and offers IEO. We expose their scam.

2. We have received an explosive leaked document of how IEO on ChainX operates. ChainX and scam marketing agency ICO Pantera are owned by Ryan Won Lee (Korean).

3. In a leaked contract between ICO Pantera/ChainX and Emjac (IEO project - https://emjac.io/ ), there is a "Private Funding scheme". Quoting the contract,

"Selling the tokens through OTC after Listing and making Chart. For example you can make the price upper 1$ then sell the tokens at a low price. (Precautions 1 : if Chart is maded in korea, then selling the tokens in other countries like china etc.)"

4. What this means is that ChainX will manipulate the chart to show the price of Emjac at a fake high price, while selling the same tokens through OTC at a much lower price.

5. Any IEO participants and purchasers of Emjac on ChainX will get dumped, since ChainX is selling the tokens much cheaper outside the exchange. OTC purchasers of Emjac will be able to deposit into ChainX to dump against ChainX IEO participants.

6. According to the contract, ChainX will earn a further commission "from 5%" onwards.

7. Hence, it is exposed in this document that ChainX does the following:

• a. Manipulate the price chart of coins on ChainX. All ChainX volumes and prices are fake!
• b. Screw their own IEO participants by selling cheap tokens outside the exchange
• c. Allow the OTC purchasers to dump their tokens on their own IEO participants
• d. Earn a commission on all the OTC sales they make

8. ChainX is literally profiting out of their users, their crony OTC connections, and their project clients. Is there a more money-grabbing exchange?

9. Share this post to your friends. Let's protect crypto community from greedy criminal organizations like ChainX.

Attached: Leaked contract between Emjac and ICO Pantera/ChainX
https://anonymousfiles.io/fBCrUpdo/

[1714823838]

1714823838

[1714823838]

1714823838

[shinratensei_]

One thing that you should remember if you must never try to believe the information already published by CMC. In coingecko and chainex placed more than 150 https://www.coingecko.com/en/exchanges/chainex
Basically what scheme that has already made by chainex is not even getting the real funding.
This is pure manipulated by chainx.
This scheme was also happening with p2pb2b. Just hope everyone will aware about this and they can start to avoid the scam exchange site.

[Flush-Grey]

One thing that you should remember if you must never try to believe the information already published by CMC. In coingecko and chainex placed more than 150 https://www.coingecko.com/en/exchanges/chainex
Basically what scheme that has already made by chainex is not even getting the real funding.
This is pure manipulated by chainx.
This scheme was also happening with p2pb2b. Just hope everyone will aware about this and they can start to avoid the scam exchange site.

Exactly. CMC is not trustworthy, Coingecko trusted score is much better.
I also agree with you that p2pb2b and chainx are not to be trusted.

Take care everybody! Hodl on but be careful of scam exchanges!

[Balladtony77]

I don't trust new exchanges anymore, they have to be thoroughly investigated before using or investing in them, about coinmarketcap it's very discouraging because the CMC website is always the best in the past but not anymore, it's seem coingecko wants to offer what CMC couldn't and it's fine by me

[Flush-Grey]

I don't trust new exchanges anymore, they have to be thoroughly investigated before using or investing in them, about coinmarketcap it's very discouraging because the CMC website is always the best in the past but not anymore, it's seem coingecko wants to offer what CMC couldn't and it's fine by me

So true. I completely agree with you. Even p2pb2b which has been not so new has constantly new scandals for their IEO procedures. A lot of nonsense scams go on to be their IEO. They do not care about due diligence, they only care about quick profits.

Coingecko is really much better than CMC I feel.

[luckyflop]

I also just got to know this exchange, it seems to be a new exchange from Korea. In this market we always see FUD, even Binance exchanges have a lot of FUD every day, so we don't need to care about them. As long as our money is not stolen, it is enough

[Flush-Grey]

I also just got to know this exchange, it seems to be a new exchange from Korea. In this market we always see FUD, even Binance exchanges have a lot of FUD every day, so we don't need to care about them. As long as our money is not stolen, it is enough

It is important to remain vigilant and keep protected against scam exchanges like ChainX and p2pb2b. I will never leave my coins in such exchanges that wash volume and trick customers in ieo. Shameless!!

[$crypto$]

One thing that you should remember if you must never try to believe the information already published by CMC. In coingecko and chainex placed more than 150 https://www.coingecko.com/en/exchanges/chainex
Basically what scheme that has already made by chainex is not even getting the real funding.
This is pure manipulated by chainx.
This scheme was also happening with p2pb2b. Just hope everyone will aware about this and they can start to avoid the scam exchange site.

Exactly. CMC is not trustworthy, Coingecko trusted score is much better.
I also agree with you that p2pb2b and chainx are not to be trusted.

Take care everybody! Hodl on but be careful of scam exchanges!

chainex.io/ and p2pb2b really can't be trusted even a lot of projects that fail if there is IEO there is really uncomfortable to look at if this keeps up and many projects are trapped too. hm

https://chainx.kr/ if IEO is here I think it will be better because KRW pairs are always great in selling and purchasing.

[antsam]

If this information is true, then this is a big scandal in the world of crypto. The people behind this all deserve to be rewarded, because many people's funds are at stake. More and more fraudulent exchanges require us to be more careful in choosing IEO projects

[Tduty]

Recently I have seen Blockburn IEO hit their hard cap within some hours in ChainX exchange! I don't get it, because ChainX is new and they are known wash trading exchange! Are they followed same scam way in Blockburn IEO? Within a few months, Chainx came in the top rank in CMC, which is absolutely fake! Emjack is here since 2019, I did not see anything good in that project, now with this suspicious way they are planning to dump their IEO investors! Shame for ChainX!

[betty11]

I don't trust data from coinmarketcap and other market data trackers, sometimes they are either not updated or just pure manipulation. Even while visiting exchanges, sometimes bot just fake the trade except the coin is listed in a reputable exchanges without fake volumes.

[Flush-Grey]

One thing that you should remember if you must never try to believe the information already published by CMC. In coingecko and chainex placed more than 150 https://www.coingecko.com/en/exchanges/chainex
Basically what scheme that has already made by chainex is not even getting the real funding.
This is pure manipulated by chainx.
This scheme was also happening with p2pb2b. Just hope everyone will aware about this and they can start to avoid the scam exchange site.

Exactly. CMC is not trustworthy, Coingecko trusted score is much better.
I also agree with you that p2pb2b and chainx are not to be trusted.

Take care everybody! Hodl on but be careful of scam exchanges!

chainex.io/ and p2pb2b really can't be trusted even a lot of projects that fail if there is IEO there is really uncomfortable to look at if this keeps up and many projects are trapped too. hm

https://chainx.kr/ if IEO is here I think it will be better because KRW pairs are always great in selling and purchasing.

What do you mean by "trapped"? Like the users participate in the IEO but lost their money and do not collect the tokens because the withdrawals are blocked?

We need to get this news out and make sure common users like us don't be play a fool again. Chainx behavior is not good for crypto community grow.

[Flush-Grey]

If this information is true, then this is a big scandal in the world of crypto. The people behind this all deserve to be rewarded, because many people's funds are at stake. More and more fraudulent exchanges require us to be more careful in choosing IEO projects

It looks like this case has been picked up by Crypto Vigilante Network, and verified to be true.
https://t.me/cryptovigilantenetwork/70678

Everyone be careful of ChainX and ICO Pantera! Stay away from scammers like them!

[Tipstar]

All of the part of the document is written in proper English while the Private Funding part is not. It has grammatical errors and "maded" is not even an English word. It's easy to see that someone has manipulated the text.
A word document is not a proof enough. Anyone can make that document and we don't know whether that is the exact agreement between the two parties.
I'm not saying that I trust them but you need to produce enough proof to prove them doing such illicit behavior.

[Flush-Grey]

All of the part of the document is written in proper English while the Private Funding part is not. It has grammatical errors and "maded" is not even an English word. It's easy to see that someone has manipulated the text.
A word document is not a proof enough. Anyone can make that document and we don't know whether that is the exact agreement between the two parties.
I'm not saying that I trust them but you need to produce enough proof to prove them doing such illicit behavior.

Reasonable to be doubtful. It seems there is even a telegram group set up for projects and people that were scammed by ICO Pantera and Chainx. Most of it is written in Korean but it is clear they are angry. Even doxxing the founder and his girlfriend. The angst is real.

https://t.me/panteragroup_scam

With that said, you sound like you are defending this company. The document is not written in proper English. Looks so unprofessional, like written by a child.

[Flush-Grey]

It seems there are 2 Panteras. The one we are talking about is ICO Pantera. Pantera Capital is not involved in any way, unless someone can prove they are the same outfit...?

[Twinkledoe]

All of the part of the document is written in proper English while the Private Funding part is not. It has grammatical errors and "maded" is not even an English word. It's easy to see that someone has manipulated the text.
A word document is not a proof enough. Anyone can make that document and we don't know whether that is the exact agreement between the two parties.
I'm not saying that I trust them but you need to produce enough proof to prove them doing such illicit behavior.

I agree with that, "maded" Not an official document by all means. So we don't know exactly the authenticity of the contract. But anyway, we know that there a lot of crypto exchanges that are doing the wash trading. But if it is very obvious, avoid that exchange as the likelihood of losing your money is very high. And it is good to expose the ChainX, at least people will be aware of such possible activity and be careful in dealing with them.

[joshua123]

Recently I have seen Blockburn IEO hit their hard cap within some hours in ChainX exchange! I don't get it, because ChainX is new and they are known wash trading exchange! Are they followed same scam way in Blockburn IEO? Within a few months, Chainx came in the top rank in CMC, which is absolutely fake! Emjack is here since 2019

CMC doesnt really care on major statistics cause any volume they are uploading is based on what exchange shown. On the other note, the project emjac seems to be connected with the allegation made by OP, I think chainX will be morr controversy exchange same with yobit later on.

[Flush-Grey]

All of the part of the document is written in proper English while the Private Funding part is not. It has grammatical errors and "maded" is not even an English word. It's easy to see that someone has manipulated the text.
A word document is not a proof enough. Anyone can make that document and we don't know whether that is the exact agreement between the two parties.
I'm not saying that I trust them but you need to produce enough proof to prove them doing such illicit behavior.

I agree with that, "maded" Not an official document by all means. So we don't know exactly the authenticity of the contract. But anyway, we know that there a lot of crypto exchanges that are doing the wash trading. But if it is very obvious, avoid that exchange as the likelihood of losing your money is very high. And it is good to expose the ChainX, at least people will be aware of such possible activity and be careful in dealing with them.

I disagree with the "maded" part. There are many exchanges from countries that do not operate with first language English. It is entirely plausible that these exchanges simply have really shitty contracts.

I agree with your point that chainx should be avoided at all cost. Especially all IEO that are working with them. Stranger danger!

[FireBallex]

One thing that you should remember if you must never try to believe the information already published by CMC. In coingecko and chainex placed more than 150 https://www.coingecko.com/en/exchanges/chainex
Basically what scheme that has already made by chainex is not even getting the real funding.
This is pure manipulated by chainx.
This scheme was also happening with p2pb2b. Just hope everyone will aware about this and they can start to avoid the scam exchange site.

Coingecko rating is the only truth left in crypto space today, unfortunately we lose trust in coinmarketcap that have been my favorite since 2017, I hope coingecko will stick to the truth no matter what