Warning: Don't ever use Coineal exchange

[smallbitmoney]

Dear all,
I would like to warn fellow crypto investor or hodler; do not use Coineal exchange!

I bought 2200+ CVNT dated 17 Mar 2021 (worth $60+ USD) and they announce suspend all trades and withdrawal for mainnet upgrade.
Read here: https://support.coineal.com/hc/en-001/articles/1500004201602-Suspension-of-CVNT-Trading-and-Deposit-withdrawal

They inform the suspension lifted today (30 Apr 2021) after 1.5 month. I've never came across any mainnet upgrade that requires 1.5 month, absolutely ridiculous!
Read here: https://support.coineal.com/hc/en-001/articles/900006905503

To my surprise, there's only 11 CVNT left in my account (now worth $0.3 USD) and was told the upgrade has mapped to the mainnet at a ratio of 200:1. Refer above link.
What a SCAM exchange they are operating!!!

You have be warned! Do not use them or withdraw all your funds immediately if you already have with them!
Take care and good luck guys!

[1714481250]

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[1714481250]

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[1714481250]

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[1714481250]

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[1714481250]

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[airdata]

Hello brother i don’t know that why you and some other people trust and use this type Exchange for Trading and for Deposit and for Withdrawing. So i always Say my friend that use only Trusted exchange for Trading.     

[MCcryptonia]

Coineal sucks anyway, if the listing of that coin is officially on coineal then the team can fight for you, that's if the team cares though this days we have too many scumbags as project team who don't give a fuck about their investors, talk to the team and they will take the issue down to coineal themselves, oh unless if there was no mainnet upgrade though

[cryptomaniac_xxx]

There is already a scam accusations against this exchange:

[1] Coineal - suspension account for 1.5 month.

Sorry about your lost, it just so happen that you used this exchange without any proper investigation on your end. Let this be a lesson for newbies out there, DYOR (Do Your Own Reserach).

[Little Mouse]

200:1 part is true as I can see the same announcement with mxc exchange news- https://support.mxc-exchange.com/hc/en-001/articles/360057395992-MXC-Announcement-on-Supporting-CVNT-Mainnet-Swap
So, they are not scammer if you only show this is the reason. Moreover, as far as I know they have partnered with a football club too which I think is a good sign that they will operate the business fairly.

[boty]

its been for months i am using coineal exchange for trade and so far i dont have problem with yours, maybe you need to ask confirmation from developer team too  so you will get complete information about this accident. coineal support team also give fast response when we send them a complaint ticket. personally its based on my experience

[makishart]

I think that you are missing an official announcement about the swap. Even CMC was also announcing about that https://coinmarketcap.com/currencies/content-value-network/

You can check the link and you will see a red notice and that means the swap is official running by the CVNT team.
Your money were decreasing caused by the price is also decreasing.

[mr.robot8]

even if coineal is not scam is in any case an incorrect move a maintenance of a month and a half those who have altcoins could lose value, the coins could be worth less in a month, better to use only really large and trust exchanges

[Sterbens]

Coineal exchange has many complaints like this, so why do you still use such exchanges? while everyone knows which exchanges are guaranteed and provide excellent service.
so to minimize things you don't want, it's better to leave coinneal exchanges which will only make you lose everything.

[blockman]

200:1 part is true as I can see the same announcement with mxc exchange news- https://support.mxc-exchange.com/hc/en-001/articles/360057395992-MXC-Announcement-on-Supporting-CVNT-Mainnet-Swap

This is the announcement that they have on CMC. I don't know if you have checked it but usually, these swaps are really making our coins lesser and the value decreases when they do that.
I think the calculation that you have is correct with the given amount of the swap.

[Oceat]

This is the first time I've heard about of this exchange and lots of new coming exchanges are showing up nowadays. Some of these are building their reputation yet but some are for a shady scheme that's why you have to do your own research if you ever come across with a new exchange that doesn't have any reputation yet.

I'm sorry for your lose, OP but there's nothing we can do about it for now and the only thing you can do is to come here and report their exchanges. It might be too late to do your own research but make sure you make the same mistake in the future or you know what will happen to your cryptocurrency.

[totaleclipseofthebank]

The 200:1 swap does appear on the mainnet so it is understandable why the exchange decide to suspend trading. I have seen different tokens and coins run a swap or mapped their chain to another innovative chain and it requires exchange and wallet to carefully follow their guide

For example, I was not able to deposit my Crypterium tokens for almost 2 months because of the new development on its chain and the migrate to another contract address

https://coinmarketcap.com/vi/currencies/content-value-network/
The current price is fair enough, I guess

[Strongkored]

I think your problem is not in the exchange but at the price of the coins, their mapping makes the circulation of the coins reduced but it doesn't affect the price at all, even the prices after mapping are down 40% from their ATH before mapping, I check it at CMC
Hopefully you can be more careful in choosing the coins and exchanges for transactions.

[$crypto$]

200:1 part is true as I can see the same announcement with mxc exchange news- https://support.mxc-exchange.com/hc/en-001/articles/360057395992-MXC-Announcement-on-Supporting-CVNT-Mainnet-Swap
So, they are not scammer if you only show this is the reason. Moreover, as far as I know they have partnered with a football club too which I think is a good sign that they will operate the business fairly.

So indeed the OP may just miss information about the swap announcement all the same announcements about the 200: 1 swap ratio so it's only natural that your asset estimate drops drastically.
So it's not just Coineal who is a scam, but with this swap method, there will probably be a lot of losses, you can say it's not good with what the ratio is, maybe it's true that you have to have a good altcoin compared to those that are unclear or unfamiliar then this is the impact on you, so it's fine to forget it and find some better altcoins for OP and my advice is not to store altcoins on the Coineal exchange.

[Anonylz]

Dear all,
I would like to warn fellow crypto investor or hodler; do not use Coineal exchange!

I bought 2200+ CVNT dated 17 Mar 2021 (worth $60+ USD) and they announce suspend all trades and withdrawal for mainnet upgrade.
Read here: https://support.coineal.com/hc/en-001/articles/1500004201602-Suspension-of-CVNT-Trading-and-Deposit-withdrawal

They inform the suspension lifted today (30 Apr 2021) after 1.5 month. I've never came across any mainnet upgrade that requires 1.5 month, absolutely ridiculous!
Read here: https://support.coineal.com/hc/en-001/articles/900006905503

To my surprise, there's only 11 CVNT left in my account (now worth $0.3 USD) and was told the upgrade has mapped to the mainnet at a ratio of 200:1. Refer above link.
What a SCAM exchange they are operating!!!

You have be warned! Do not use them or withdraw all your funds immediately if you already have with them!
Take care and good luck guys!

200:1 isn't that too much difference to swap 1 cvnt! I would expect after such huge reduction in circulation that the price have appreciated a lot, even if you have less tokens but the price should have increased in value and close or if not even more than your initial investment,
It most certainly looks shady with the way the swap was carried out.

[Enzo05]

In my case, I used this exchange once only and I never used it again because my withdrawal takes a long time to arrive in my wallet. Its better to just used this type of exchange if you have a certain type of coin if it ONLY listed in their exchange and make a fast withdrawal don't put more funds on an exchange that has not popular and no good reputation

[Ridwan Fauzi]

I found another accusation for this exchange https://bitcointalk.org/index.php?topic=5154995.0

Yeah, just skip this exchange as your list or you will lose your money. There will be a good offer form this exchange but it is just a temptation to entice you into his deception.

[Cryptomiles1]

Any exchange with poor rating is what i don't associate with. i mostly use binance to make transaction and if any token or coin i have not listed on 1 to 7 trusted exchange i don't initiate transactions to avoid stories. i don't mostly associate my wallet with swap (DEX) it might lead to internal attack.
be very careful with any among of exchange you are to trade with your funds