is ChainX a scam??

[Mighty_crypt]

Not a scam but a very bad exchange, they are manipulating every damn new coins on their exchange, fake volumes, watch trading and not trading are too many on the exchange, it's worse than p2pb2b exchange

[Shallow]

I don't mean the exchange, more so the polkadot parachain project. Unless these the exchange and the project are linked?

The return to investment is what attracted me to it initially, but I have been reading that the exchange is a scam. But, haven't heard about if the polkadot parachain project is legit

As it seems the exchange is korean but the polkadot parachain project is chinese

Thanks for your help

It's good that whenever we hear bad reports or bad news about most exchanges, we make enquiries to be sure our funds are safe. The truth is, whenever an exchange is being tagged as scam or bad, most of the times it ends up being true, because there is no way an exchange will take good care of their users and they will go the length of tagging them scam. An exchange like Binance, can never be tagged scam because all evidence shows the exchange is growing with good customer service. However, in the case of this ChainX exchange, there have been bad reviews about them and now they are being placed on the same scale with P2PB2B which is a bad thing for them. My only advice would be, trade carefully on the exchange or stay away if possible.

[Kvalentine]

It's very easy to know which exchange is good or bad just by looking for users reviews online, once they are full of bad reviews you don't need to be told, chainX exchange has too many bad reviews, that's all the answer you need

[cheezcarls]

I think the mods may need to move this thread to the Scam Accusations section, since we’re discussing about ChainX being a possible scam in the eyes of the OP and the others.

I don’t know if they’re going to end up like BCNEX (which had recently exit scammed), but there are new exchanges that keeps on popping up and deceiving lots of traders due to wash trading, fake volume, etc.

Just my opinion.

[DarkDays]

Here's the situation.

Any absolutely shit exchange running an IEO will only be able to run the absolute worst quality IEOs — including those that will almost certainly fail and/or are an outright scam.

If the exchange can't even build up its own reputation and user-base with whitehat means, why would it be able to do so for a third-party project?

I would personally stay well away from any IEO launched on a basically dead exchange, irrespective of the claims it makes. Remember, extraordinary claims require extraordinary evidence, accept nothing less.

[Suptiele]

Dont trust new exchange with good return to investment they are using new names because we all knows that old version of those scam exchanges are scam like exmarket, p2pb2b.
Therefore, you may notice that you collected a lot of profits, but once you try to withdraw those profits, problems will start to appear, such as the need to verify the identity, the account has been frozen because you violated one of the rules and other methods of fraud.

[bussybuddy]

ChainX is a scam exchange, it usually cooperates with projects that will hold IEO there to fool investors, making it appear as if tokens were sold out in a short time, even though nothing was actually sold.

That's right, all their IEO information is fake. They issued an announcement that the IEO was completed in a short time, but in fact no one invested and participated in the project. Be careful with this exchange because it is worse than P2PB2P and Latoken

[SyndicateLabs]

I think the mods may need to move this thread to the Scam Accusations section, since we’re discussing about ChainX being a possible scam in the eyes of the OP and the others.

I don’t know if they’re going to end up like BCNEX (which had recently exit scammed), but there are new exchanges that keeps on popping up and deceiving lots of traders due to wash trading, fake volume, etc.

Just my opinion.

BCNEX is one of the most bullshit exchanges I've ever known. They became a scam after completing the ICO and did not do anything for this market. Strong measures are needed to punish such scammers in this market. And I believe they will soon return to this market with another project, be careful

[hhhyyy7]

There are series of IEO held there and lot of complained that they have been manipulating the result of their listed project. So for me, an obvious exchange like this would not progress, its like they are similar with other worthless platform such as latoken, vindax and p2pb2b exchange which proven to cheat or manipulating on their exchange.

The exchange is bad, even Probit and coinsbit beats this ChainX, customer service is very low and fake volumes are on the exchange, stay away, it's Definitely like idex and p2pb2b exchange

Why you included Idex? That is a legit exchange and worth than these markets you mentioned.

Just saw everyones comments

I was wondering if anyone could answer this:

- Chainx.org vs chainx.kr are they different websites? different projects?
- One seems to be a korean project another chinese?
- ChainX.org is a project collaborating with polkadot, and not an exchange, they have a dex in app
- Chainx.kr doesnt have PCX (polkadot parachain X) listed which is ChainX.org's currency

So are these the same project? that was my main question

[Furryball]

I haven't heard about coin lost or stolen fund on chainX exchange but the exchange is not good for new projects because it lacks real trading volume and liquidity, the exchange also use wash trading too

[Ryushin]

I don't know if ChainX is a scam and I haven't come across any claim saying ChainX scam people, the only flaws about this exchange is bad team, all they know is price manipulation, all IEO projects that used ChainX performed worse

[bakasabo]

ChainX is a scam exchange, it usually cooperates with projects that will hold IEO there to fool investors, making it appear as if tokens were sold out in a short time, even though nothing was actually sold.

Using your logic, if a counterfeit money are used to pay for the goods in shop, and later that shop gives these counterfeit money banknote (without knowing they are fake) as a change from bigger banknote, then this shop is also violating the law ?

Fake projects use exchanges as ChainX or p2pb2b because it is easy to get listed there or run IEO. They are probably not scam, but use easiest way to earn (by listing everything) and they dont care much about reputation. After all, exchange users make a decision to buy scam token or coin. No one forces them to do it or participate in scam IEO.

[torrantz]

Not a scam but a very bad exchange, they are manipulating every damn new coins on their exchange, fake volumes, watch trading and not trading are too many on the exchange, it's worse than p2pb2b exchange

Those indicators have been fulfilling all of the requirements for the chains to be considered as a scam exchange site. The reliable exchange site will never try to manipulate the volume, ban the withdrawal feature of some users, and doing so many shady things.

[ElmedoRator]

I have never used this exchange, but I have heard a lot of FUD come from this exchange. The IEO continually fails and its price drops hundreds of times after being listed, and most altcoins there have no liquidity. So you shouldn't join IEO there because it's too risky

[hhhyyy7]

can anyone answer my question tho lol

[Spaffin]

can anyone answer my question tho lol

No one will give you specific advice or recommendations on this matter. No one will want to take responsibility for possible problems that will subsequently come to you after acting on ChainX. Nevertheless, it is nevertheless necessary to take into account some facts that can characterize the exchange. ChainX is a centralized Korean exchange, which means it must be governed by certain laws of a particular state. In addition, the volume of trade indicated on coinmarketcap is 21 million dollars. After Binance is responsible for Coinmarketcap, I want to believe in the veracity of the indicators indicated on this resource.

[umbara ardian]

Not a scam but a very bad exchange, they are manipulating every damn new coins on their exchange, fake volumes, watch trading and not trading are too many on the exchange, it's worse than p2pb2b exchange

Those indicators have been fulfilling all of the requirements for the chains to be considered as a scam exchange site. The reliable exchange site will never try to manipulate the volume, ban the withdrawal feature of some users, and doing so many shady things.

I have not seen anyone banned from withdrawals at this exchange. But I see this exchange does not have too much liquidity. And most trading pairs are bots and no investors, be careful and refrain from using this exchange for trading.

[hhhyyy7]

can anyone answer my question tho lol

No one will give you specific advice or recommendations on this matter. No one will want to take responsibility for possible problems that will subsequently come to you after acting on ChainX. Nevertheless, it is nevertheless necessary to take into account some facts that can characterize the exchange. ChainX is a centralized Korean exchange, which means it must be governed by certain laws of a particular state. In addition, the volume of trade indicated on coinmarketcap is 21 million dollars. After Binance is responsible for Coinmarketcap, I want to believe in the veracity of the indicators indicated on this resource.

That's not what im asking. im asking if chainx.kr is the same as chainx.org, see below:


I was wondering if anyone could answer this:

- Chainx.org vs chainx.kr are they different websites? different projects?
- One seems to be a korean project another chinese?
- ChainX.org is a project collaborating with polkadot, and not an exchange, they have a dex in app
- Chainx.kr doesnt have PCX (polkadot parachain X) listed which is ChainX.org's currency

So are these the same project? that was my main question

[hhhyyy7]

They are not a scam exchange, people are still using it and can still withdraw money normally. But this exchange is not suitable for you to join IEO because most of the IEOs there have failed and do not have any successful projects and helped investors to get profits when investing.

I was wondering if you could answer this:

- Chainx.org vs chainx.kr are they different websites? different projects?
- One seems to be a korean project another chinese?
- ChainX.org is a project collaborating with polkadot, and not an exchange, they have a dex in app
- Chainx.kr doesnt have PCX (polkadot parachain X) listed which is ChainX.org's currency

So are these the same project? that was my main question

[kevinm]

They are not a scam exchange, people are still using it and can still withdraw money normally. But this exchange is not suitable for you to join IEO because most of the IEOs there have failed and do not have any successful projects and helped investors to get profits when investing.

I was wondering if you could answer this:

- Chainx.org vs chainx.kr are they different websites? different projects?
- One seems to be a korean project another chinese?
- ChainX.org is a project collaborating with polkadot, and not an exchange, they have a dex in app
- Chainx.kr doesnt have PCX (polkadot parachain X) listed which is ChainX.org's currency

So are these the same project? that was my main question

Not the same project at all,
Lots of newbies fudding PCX cause they think it is chainx.kr shitty exchange
just spend some time on chainx.org website and read the white paper. It connects other blockchains and assets to Polkadot chain.  
For me, its an impressive project, main net is live and PCX is a steal right now at $1.80, I am staking it for daily interest of 0.125%, compounding the interest by re-staking the daily interest every 24 hours. After 1 year the compounded interest will be in exess of 60% of the initial stake.
It has 82.5% of 5.9M Current supply being staked. Total supply is 21M
PCX still has a MC under $12M

cheers,
Kev