[SCAM] Crex24 sudden KYC - while Crex24 wishes to stay anonymous

[psycodad]

What happened::

In Dec 2018 I opened an account at crex24.com and was able to deposit and trade ARI and MEC. I regulary tested if I *could* withdraw, but waited until I have enough BTC to make up for the withdrawal fee.

When I recently logged in last week to put some sell orders for above Altcoins I had deposited, I couldn't place any orders or withdraw anything and was presented with a truely worrying KYC procedure asking for a wealth of personal data. I have not received any advanced information or warning from them.

Crex24 wants me/you to submit:

• photo of current ID / driver license
• social media profile (not mandatory, but very much recommended)
• selfie holding ID card used + signature
• two different utility bills, though they seem to prefer credit card and bank statements
• complete address

I was about to bite the bullet, when it came to two different proof of residence documents, at which point I spontaneously wondered with whom I am dealing with here. So being confident that an exchange asking for so much KYC information certainly has a legal address listed on their website I started searching. Turns out they haven't, the best information you can find in their web page is

Our Customer Support Team speaks English and Russian.

(Archived Apr 26 2020: https://archive.is/aHBBy)

So I mailed support asking for their legal address and received the following reply:

Hello

All information you can find here: https://crex24.com/about

How would you rate my reply?
Good Just ok Not good

Regards,
Crex24 Support Team

After that I demanded that I receive my coins back without KYC which naturally was refused.


Scammers Profile Link:
https://bitcointalk.org/index.php?action=profile;u=1113444

Reference Link:
https://bitcointalk.org/index.php?topic=2101721.0 (ANN thread for the exchange, locked meanwhile)

Amount Scammed:
0.03066087 BTC (Crex24 account estimate on 23 Apr 2020)

Payment Method:
Deposit and trading of altcoins against BTC

Proof of Payment:
Deposit address ARI: 5dqQbQsTc5ABKMoDqMSoxyubL6fWcLZ3GD
Link ARI Blockexplorer: https://chainz.cryptoid.info/ari/address.dws?5dqQbQsTc5ABKMoDqMSoxyubL6fWcLZ3GD.htm
Deposit address MEC: MBZRExkE3jHWXQGzbWw2ZamrSJxerfJ48n
Link MEC Blockexplorer: https://chainz.cryptoid.info/mec/address.dws?MBZRExkE3jHWXQGzbWw2ZamrSJxerfJ48n.htm

PM/Chat Logs:

>
>
> Hello
>
> Could you please specify your issue?
>
> How would you rate my reply?
> Good Just ok Not good
>
> Regards,
> Crex24 Support Team

The issue is that I am suddenly asked to do KYC with a lot of personal details but crex24 itself is refusing to even display a legally valid business address of themselves.

I have registered my account in Dec 2018 and deposited coins into your exchange under totally different provisions and since I am unwilling to do KYC with an unknown party I am now requesting my balance to be sent to me and my account being closed after that, notably without doing your very much detailed KYC procedure.

>
>>
>> Hello
>>
>> You need to pass the verification. It is needed for security measures.
>>
>> How would you rate my reply?
>> Good Just ok Not good
>>
>> Regards,
>> Crex24 Support Team

> Before I pass verification, I am asking for a registered business address of crex24. You certainly do not expect me to send my sensitive
> documents to a completely unknown entity with no legal responsibility.

Hello

All public information you can see here:https://crex24.com/about

How would you rate my reply?
Good Just ok Not good

Regards,
Crex24 Support Team

The Crex24 replies did not quote my previous mails, I have edited that in for easier understanding. Though the textual content is absolutely unchanged.

Additional Notes:
Crex24 asks you for the most detailed KYC that I have ever witnessed (and I've done a few meanwhile), while not even giving you their basic information like a business address. The details of information they request and the lack of detail they are willing to reveal about themselves is deeply worrying and hints to something more sinister.

Flag:
I have also raised a flag against Crex24 and would like to ask you to consider it for supporting or opposing:

https://bitcointalk.org/index.php?action=trust;flag=1699

[1714897674]

1714897674

[1714897674]

1714897674

[Rikafip]

CREX24 has a long history of dodgy behavior, as they are willing to list just about any scam project that there is, so I am not surprised  really that they did this to you, unfortunately. They don't care about their customers, all they are interested is getting money from them, and this is just another way to do it, hoping that some won't be willing to go though KYC so they can just seize the funds.
Flag supported by the way, and I hope you manage to sort it out with them, somehow.

[psycodad]

Thank you Rikafip for your reply and supporting my flag.

I have no hope to get my balance back since I refuse to complete KYC with an anonymous organisation that most likely will sell my address and they made clear that it's absolutely mandatory to withdraw (since a bit more than a week).

[IconFirm]

This is yet another example of scammers using KYC as a means to rip crypto users off & you are absolutely right not to share any personal info with them without knowing who they are & them refusing to provide any info.

Flag supported & tagged.

I can recommend Bisq - decentralised & zero KYC - It's the only exchange I use now - stay away from centralised exchanges.

[psycodad]

Thank you for your support IconFirm.

I am loosely following DEX developments but until now I kept postponing my first steps in this area (out of laziness I guess).
But you are right, that recent experience with Crex24 might be a good motivation to start looking more into it and your recommendation for bisq is well noted.

[TalkStar]

Flag supported from my end. Thanks for bringing our attention on crex24 again. Last year i have detected their nasty activities and from the necessity of keeping newbies and traders safer from them created below topic on march 31,2019.

Here is the topic link: ★ Alarming information about the crypto exchange "crex24" ★

I wanna let you know that they are popular for listing scam ICO projects and most interesting thing is that they don't care about scam accusations too. Sorry to say that we are getting new accusations against them on a regular basis and you are one of the sufferer now. After opening the thread with all necessary informations "Lauda" opened a flag to warn everyone about their fraudulent activities but still some people are not enough aware about them.

[JeromeTash]

Quite ironically they are asking for KYC from people, and yet they don't even have anything that talks about the team behind them or the address of the company behind the exchange

They also locked the r=thread when things got heated up: Crex24.com - Cryptocurrency Exchange [Official Thread]

I have supported both flags opened against them. I negged them too.

[LeGaulois]

How providing social media profiles is going to speed up the verification? Soon exchanges will start to ask for the underwears size.

@psycodad
It's not going to help you but this platform is from Estonia and they started to bother users with KYC since a story with HTMLcoin recently and with users accusing them to hide a hack.

Crex24 has also reportedly increased its know-your-customer verification requirements for processing withdrawals since accusations began to swirl — further inhibiting their customers’ ability to remove funds from the platform.

https://cointelegraph.com/news/crex24-exchange-accused-of-hiding-hack-from-customers

[examplens]

Quite ironically they are asking for KYC from people, and yet they don't even have anything that talks about the team behind them or the address of the company behind the exchange

They also locked the r=thread when things got heated up: Crex24.com - Cryptocurrency Exchange [Official Thread]

I have supported both flags opened against them. I negged them too.

Okay, you are probably in right, but did you know about this(December 3rd, 2019): https://twitter.com/Crex_24/status/1201822589771026432

Code:

From January 1st, 2020 all EU users will be required to complete mandatory KYC verification in accordance with the 5th EU AML Directive.
Note: Crex24 operates in all countries except the UK, USA, Canada and Israel.

https://ec.europa.eu/info/business-economy-euro/banking-and-finance/financial-supervision-and-risk-management/anti-money-laundering-and-counter-terrorist-financing_en
OP has not confirmed, if they are from the EU. as far as I know mandatory KYC is not Crex whimsy, it is an official law.

[JeromeTash]

OP has not confirmed, if they are from the EU. as far as I know mandatory KYC is not Crex whimsy, it is an official law.

Yeah, it's a law, and we all agree, however, they are asking about KYC, yet they themselves are not transparent at all.
They provide no information about;
- Their Team or who runs the exchange.
- Their Company address or where they are based.
- Their company registration number or license.

But they got the audacity to withhold people's money on grounds of KYC.

Without all the information, it could as well be some bunch of scammers in a random safe house pretending to comply with the AML/KYC policies and holding on people's money, yet they are nowhere near a company with any legal papers and licenses.

[Twinkledoe]

Quite ironically they are asking for KYC from people, and yet they don't even have anything that talks about the team behind them or the address of the company behind the exchange

They also locked the r=thread when things got heated up: Crex24.com - Cryptocurrency Exchange [Official Thread]

I have supported both flags opened against them. I negged them too.

Okay, you are probably in right, but did you know about this(December 3rd, 2019): https://twitter.com/Crex_24/status/1201822589771026432

Code:

From January 1st, 2020 all EU users will be required to complete mandatory KYC verification in accordance with the 5th EU AML Directive.
Note: Crex24 operates in all countries except the UK, USA, Canada and Israel.

https://ec.europa.eu/info/business-economy-euro/banking-and-finance/financial-supervision-and-risk-management/anti-money-laundering-and-counter-terrorist-financing_en
OP has not confirmed, if they are from the EU. as far as I know mandatory KYC is not Crex whimsy, it is an official law.

I know this new regulation also from crex. So it is really not a sudden change from crex's side, they announced it regarding the KYC requirements. I have learned such requirement last year and from this forum. But I couldn't remember which thread that was. From time to time, I use crex and haven't gone their KYC requirements as I'm not part of the EU users. I am just sharing that I haven't experienced any trouble with crex so far, withdrawing funds or anything of that sort.

[TalkStar]

They also locked the r=thread when things got heated up: Crex24.com - Cryptocurrency Exchange [Official Thread]

Maybe its the most easiest way to ignore accusations in a common way. They like the idea to keep everyone silent rather than giving space for sharing (Evidences, Claims, Accusations) on their ANN.

How providing social media profiles is going to speed up the verification? Soon exchanges will start to ask for the underwears size.

Little correction : Underwears size with recent photos. Hahaha,,, . what an psychopathic idea to implement KYC procedures with social media profiles.  

[psycodad]

Again, thanks to all for your support.

How providing social media profiles is going to speed up the verification? Soon exchanges will start to ask for the underwears size.

@psycodad
It's not going to help you but this platform is from Estonia and they started to bother users with KYC since a story with HTMLcoin recently and with users accusing them to hide a hack.

Thanks for your hint regarding Estonia, it is helpful to know they are in the EU. Probably it's an E-residency company. Upon checking the business register of Estonia I found this:

https://ariregister.rik.ee/lihtparing.py?rkood=14419665&search=1

The address listed interestingly seems in an apartment building:

https://www.city24.ee/en/real-estate/apartments-for-rent/Tallinn-Kesklinna-linnaosa/1370177

Under the very same address, there is another exchange registered obviously:


https://www.ilexexchange.com/

Oh, wait, there's a lot more going on in this apartment obviously:

https://crex24.cc/

https://www.maxiunit.com/

https://bitexfin.com

https://cst-exchange.ru

https://gtoxy.com/

https://www.pfser.com

https://iqexchange.com

https://cryptoorange.com/

And I just stopped there, might fill an evening or two to list all entities registered at that address.

Here is what I found regarding the company:

http://www.infoproff.com/en/companies/regcard/EST8048562/14419665

Again, interestingly the company seems not to have some kind of financial license as it says in above URL:

Activities: "Other business support service activities not classified elsewhere"

Quite ironically they are asking for KYC from people, and yet they don't even have anything that talks about the team behind them or the address of the company behind the exchange >

They also locked the r=thread when things got heated up: Crex24.com - Cryptocurrency Exchange [Official Thread]

I have supported both flags opened against them. I negged them too.

Okay, you are probably in right, but did you know about this(December 3rd, 2019): https://twitter.com/Crex_24/status/1201822589771026432

Code:

From January 1st, 2020 all EU users will be required to complete mandatory KYC verification in accordance with the 5th EU AML Directive.
Note: Crex24 operates in all countries except the UK, USA, Canada and Israel.

https://ec.europa.eu/info/business-economy-euro/banking-and-finance/financial-supervision-and-risk-management/anti-money-laundering-and-counter-terrorist-financing_en
OP has not confirmed, if they are from the EU. as far as I know mandatory KYC is not Crex whimsy, it is an official law.

I have again checked my email archive, and I never received an announcement from Crex24 regarding newly implemented KYC. I logged in there about every 10days and I only noticed this restriction on my account last week.

I am not from the EU and given Crex24 is in the EU as LeGaulois says, they break about a dozen of laws, starting with GDPR but also ODR (Online Dispute Resolution). If one actually had an address, one could sue them. Though I am considering to report them to Estonian authorities.

Asking for KYC without revealing your own identity is simply criminal behaviour, at least in Europe and also in my country.

[LeGaulois]

The house for rent on city24 isn't the Crex24's address. Tornimäe tn 7, Kesklinna linnaosa isn't the full address it just gives the village name and its district. The poster didn't give the full details on the location house.

This is the place where they seem to be located, as well the other exchange companies you found
https://goo.gl/maps/2yXPALDVSf6FGSwz9

Which makes me believe they are renting a virtual office there (like a lot of other companies do). The good thing since this country rely 95% on digital is you can probably report them online about GPDR etc while lying on your sofa

[JollyGood]

@OP

I am sorry to learn about your loss. A scam is a scam regardless of whether the thieves stole 0.03066087 BTC or any other amount.

You did the right thing by not sending your KYC. I have no doubt these types of exchanges hold on to KYC and sell them on to criminals as and when their situation facilitates it. Had you sent your ID they would probably have not allowed you to withdraw anyway and they probably would have made some more money at your detriment from criminals after they sold your ID to them.

I hope others manage to read this thread and do their research before sending their crypto to Crex24 and other scam exchanges including p2pb2b, coinsbit, whitebit and exrates (all linked with Ukrainian scammer called Valerii Solodovnyk)

[24ZZctcrex24]

Crex24 not a scam at all. been using it for years without a problem 

[logfiles]

Crex24 not a scam at all. been using it for years without a problem 

Another shill account. This kind of stupid lies won't work here.
Account created at 02:00:54 AM, then 2 minutes later, it starts  defending the scandalous exchange (Archived) Try harder!

[JollyGood]

It is obvious this sock-puppet account was created to post on behalf of the Crex24 scammers. I added this user to my IGNORE list.

Crex24 not a scam at all. been using it for years without a problem  

[KevinMiles]

Been affected too. It seems that even trading on exchange now requires KYC. Never received an announcement from Crex24 regarding newly implemented KYC. I don’t know how they will handled that kind of sensitive information. +1 from me to the flag you raided!

[JollyGood]

Do not send them anything because your ID might be sold on the black market to scammers and cause you more pain in the long run. I would advise you to not send your KYC to these scammers.

Any genuine exchange would allow you to remove your funds before KYC deadlines were introduced but any scam exchange would hold on to your funds in an attempt to seize them under false pretences.

Been affected too. It seems that even trading on exchange now requires KYC. Never received an announcement from Crex24 regarding newly implemented KYC. I don’t know how they will handled that kind of sensitive information. +1 from me to the flag you raided!