Risks of the Exodus Exchange function ("CoinSwitch Scam")

[Ambatman]

As you can see I'm close to my next rank can you please distribut me with some merits i really appreciate it. I want to see it before new year. Edited-----> (you can visit my profile and my topics)

Do lemme know sir if I'm allow to translate your topic. Thanks

It would have better if you didn't add the plea for merit
It's frowned upon in the forum
I would suggest using this link https://bitcointalk.org/index.php?topic=5445913.msg61957500#msg61957500 a self moderated post by Cyrus to rank up when you Atleast 25 merit close.

Success on your Exams and an Happy new year.

[1714195786]

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[1miau]

@1miau Sir i don't mean to disturb you. I would like to translate your this topic in Pakistan local board but after some days if you allow me to do because i am busy these days in my university exams.

Unfortunately, regarding translation my OP says:

Reserving new translations is currently not available.

It's not available currently due to abuse (see complaints in Meta).

In this way asking someone for merit begging directly is out of forum rules. You post as much as you deserve and you get merit.

+1
Begging for Merit is not allowed and some forum members are very strict about it, for example, Merit beggars can end up on someone's ignore list or even get a DT tag for Merit-begging. It's always recemmended to let posting quality speak for itself, and if so, no begging is necessary. 

[snowpega]

Begging for Merit is not allowed and some forum members are very strict about it, for example, Merit beggars can end up on someone's ignore list or even get a DT tag for Merit-begging. It's always recemmended to let posting quality speak for itself, and if so, no begging is necessary.  

Hi there. Hope you doing well thanks for updating me about OP translation and second thing i was not awre of is like requesting publicly for merits is not allow. I accept my misktake and already have cut those lines which was my mistake. Well i learned it now and will never repeat my this mistake again. My apology.

Regards.

snowpega

[Nalain420]

I have completed translation and this my translation link in Arabic language: https://bitcointalk.org/index.php?topic=5480703.msg63456531#msg63456531

Thanks @1miau for giving me a chance to translate this important and useful topic into Arabic community. I hope to translate other your topics in future.

Have a nice day   

Nalain420 ~

[snowpega]

Hi there

Hope you doing well. I have translated this Topic in my local language "Urdu" In Pakistan. It Takes my time but i feel good to translate this Topic because it can help people to avoid from scams. I tried to use easy Words of Urdu So that massage can be conveyed easily.
This is Translated Topic Link:
ایکسوڈس ایکسچینج فنکشن کے خطرات ("کوائن سوچ سکیم")

[1miau]

Hey 

This is Translated Topic Link:
ایکسوڈس ایکسچینج فنکشن کے خطرات ("کوائن سوچ سکیم")

I have completed translation and this my translation link in Arabic language: https://bitcointalk.org/index.php?topic=5480703.msg63456531#msg63456531

Nice to have your translations here, well done. 
It's checked and approved now, so I'll add it to my list of local language translations:

Language	translated by	Title
___________________________	_____________________	_______________________________________________________________________
Arabic	Nalain420	مخاطر وظيفة Exodus Exchange ("عملية احتيال CoinSwitch")
Pakistan	snowpega	ایکسوڈس ایکسچینج فنکشن کے خطرات ("کوائن سو

Your help is much appreciated to educate Bitcointalk members how to avoid scam. Even if only a single person is saved from getting scammed by "CoinSwitch Scam", it's already a win. 

[The Sceptical Chymist]

Hi there. Hope you doing well thanks for updating me about OP translation and second thing i was not awre of is like requesting publicly for merits is not allow. I accept my misktake and already have cut those lines which was my mistake. Well i learned it now and will never repeat my this mistake again. My apology.

Just my 2 sats here--you made an honest newbie mistake (or at least a breach of etiquette) and you're not going to get tagged or ignored just for that, so no big deal.  I just stumbled upon this thread whilst doing a post history review, and I know I'm late to the discussion but thought I'd weigh in anyhow.

And jeez, I guess I never realized there were a lot of good threads in B&H.  I ought to visit this section more.

[snowpega]

Just my 2 sats here--you made an honest newbie mistake (or at least a breach of etiquette) and you're not going to get tagged or ignored just for that, so no big deal.  I just stumbled upon this thread whilst doing a post history review, and I know I'm late to the discussion but thought I'd weigh in anyhow.

And jeez, I guess I never realized there were a lot of good threads in B&H.  I ought to visit this section more.

Dear The Sceptical Chymist, Actually we all are at the learning stage at the beginning of time when we start working anywhere. TBH, I learned a lot from this Forum from Time to time with the beautiful interaction of my senior and respectable members. I avoid violating the forum rules i read many of the threads in the help & beginner section I try to remember them in my mind for future purposes so that I would not face any difficulty here and when I look at members like you it motivates me a lot. I just checked your account status and came to know that you have been active here since 2015 which I think is big-time spam. You are really doing well and have a good reputation on the forum.

I hope one day I also will have a good reputation here By the way it is nice interaction with you dear. Many Thanks

[1miau]

And jeez, I guess I never realized there were a lot of good threads in B&H.  I ought to visit this section more.

+1
Beginners and Help is definitely a board, where some more Merit woulnd't hurt because in general, many topics are really interesting and members are putting in quite some effort.
As far as I know, suchmoon isn't a Merit source anymore (?) and she always spend some Merits on B&H but these Merits are missing now.
So, if you are going to be active here, I'm sure it'll be beneficial for this section. 

[JayJuanGee]

......Dear The Sceptical Chymist, .........I just checked your account status and came to know that you have been active here since 2015 which I think is big-time spam. ......

I like this idea.

which could be summarized as such:

The Sceptical Chymist, = [a] big-time spam.

[tranthidung]

I just checked your account status and came to know that you have been active here since 2015 which I think is big-time spam. You are really doing well and have a good reputation on the forum.

The Sceptical Chymist is one of most active and serious reporters against spam in the forum, years ago, in 2017 and 2018, not in 2015. Back in those years, it was a big bull run with Bitcoin halving, Ethereum growth and ICOs. The forum was coverd by massive spam from bounty hunters.

Time Series on monthly statistics of forum (new users, new topics, new posts)

I quote two charts to reflect some activities in the forum which partially reflects spam. The plummet is because of merit system kick off.

[promise444c5]

 but only a desktop wallet with an integrated Exchange function.

Okay ! but I'm  not sure I'm the only one seeing  this probably a mistake or  was only a desktop wallet while this post was made.
Currently, Exodus  supports mobile(Android &IOS),  web3, and  trezor hardware wallet.

Also, I want to ask if making a swap goes through  that particular  third party  you mentioned  or its  not completely advisable to make swap on  Exodus???

[snowpega]

......Dear The Sceptical Chymist, .........I just checked your account status and came to know that you have been active here since 2015 which I think is big-time spam. ......

I like this idea.

which could be summarized as such:

The Sceptical Chymist, = [a] big-time spam.

whoops! haha  I wanted to say Big-time span but mistakenly wrote spam. it proves words have power and only one alphabet can change the whole meaning.

<snip>

Dear, Many Thanks for letting me know about this. Actually, I registered here in late 2022 and active here around from mid of 2023 these kinds of things add up to my knowledge. 

[1miau]

 but only a desktop wallet with an integrated Exchange function.

Okay ! but I'm  not sure I'm the only one seeing  this probably a mistake or  was only a desktop wallet while this post was made.

Probably, because since my post was made, almost 4 years have passed.  

Also, I want to ask if making a swap goes through  that particular  third party  you mentioned  or its  not completely advisable to make swap on  Exodus???

I haven't done any swap on Exodus recently (I don't even know if I've done any swap after creating this topic), so probably that's a better question for Exodus reddit or similar.
I just know that Exodus has several 3rd party providers to handle such swaps.
Their partners have changed in the past, so probably all we can do is trust Exodus and that their terms of service is still valid (can't link it directly since it's a PDF) but I would avoid Exodus swaps. In addition, fees are way too high. There are much safer, better and cheaper opportunities.
Personally, I like eXch.cx for quick swaps.  

[promise444c5]

I just know that Exodus has several 3rd party providers to handle such swaps.
Their partners have changed in the past, so probably all we can do is trust Exodus and that their terms of service is still valid (can't link it directly since it's a PDF) but I would avoid Exodus swaps. In addition, fees are way too high. There are much safer, better and cheaper opportunities.
Personally, I like eXch.cx for quick swaps.  

Their exchange  isn't worth a try because  I just went through  some bunch of reviews and it's  somehow  disappointing, truly some of their third parties  are scam

Review src

So eXch.cx only requires the two swap address and the Api takecares of the rest with the fee??

[1miau]

Their exchange  isn't worth a try because  I just went through  some bunch of reviews and it's  somehow  disappointing, truly some of their third parties  are scam

Exactly. Personally, I wouldn't recommend their swap service because better safe than sorry in case our funds are stuck due to 3rd pars provider issues.

So eXch.cx only requires the two swap address and the Api takecares of the rest with the fee??

Yes, it's working like that.
Swaps are really easy and straight forward. No KYC, no account required, no shenanigans.
eXch.cx is also active here on Bitcointalk, more information is available in their ANN.
You'll also find all available coins in their ANN.

[Potato Chips]

Their exchange  isn't worth a try because  I just went through  some bunch of reviews and it's  somehow  disappointing, truly some of their third parties  are scam

[image]

And last I check they don't let you choose which third party exchange to use. The best part is how most of them are either lesser knowns to never heard or popular but has a bad rap on the community.

Cryptocurrency exchanges (for token-to-token exchanges), such as
1inch(1inch.io), Aeroswap (aeroswap.io), ChangeHero (changehero.io), Changelly
(changelly.com), Changenow (changenow.io), Cripto InterCambio
(criptointercambio.com), Jupiter (jup.io), LetsExchange (letsexchange.io),
n.Exchange (n.Exchange), Ramp Swaps, Ltd. (ramp.network), and Switchain
(switchain.com)

So there's a good chance you'll encounter a problematic platform like n.exchange who once asked for unfulfillable documents in the name of KYC/AML lol:

As a supporting documentation they wanted me to show bitcoin purchase contracts with personal details and IDs of counter parties, can you imagine?
 
For sure my real counterparts refused to cooperate and reveal themselves to the NExchange ( who the hell is N.Exchange )

[Mauni98]

I have exodus and noticed this problem a few weeks ago.

For storage i think exodus is good, but for exchange it sucks.
Even if the chance of getting my coins frozen during a swap is like 1 in a million swaps, i still think that is a risk i dont want to take.
How can exodus say they are non custodial wallet if their partner can freeze your coins?
Makes no sense at all.
Its like i give my car to you, and then when you drive away with it, i shut it down remotley and say i need you pincode to your bankaccount or else you Will never be able to drive the car.

Biggest problem is that exodus say nothing about this when you press exchange in the app.
If a big text would come up that said” you are now using a third party exchange that are KYC and can freeze your coins when ever they want” , no one would use exodus as exchange.

I just cant understand why exodus is not clear with this from the start.
Very shady and irresponsible  in my opinion.

[Potato Chips]

How can exodus say they are non custodial wallet if their partner can freeze your coins?

Their non-custodial claim remains true.

Thing is, exodus wallet and their partnered exchanges are separate platforms. Once you send away your coins in order to swap, the money now sits on the exchange's wallet as well as control (once confirmed, mind you) and no longer in your exodus wallet.