Stex.com Scam

I am sharing this as a lawyer based in Estonia, who has successfully helped several clients to get their crypto returned from Stex.com - another one of the hundreds of crypto companies offered a ‘crypto license’ in Estonia (note that of the 1,500 licenses, over 1000 have already been revoked - to scam companies like this, I’m sure Stex.com will follow soon).

A number of you might have received emails claiming your wallets had been closed, due to inactivity (not logging in). And that this decision is irreversible, claiming they could never return the funds, even if they wanted to. This is a scam, facing customers mostly with smaller deposits (<2000eu), as they hope non-Estonians would not take legal action, or that the sums would be too small to warrant legal (or open a court case).

As with most crypto users, funds are usually left for years unattended. So stex.com added a ‘term and condition’ claiming no activity after 12 months would result in account closure. The terms were not shared with clients and due to the significant impact of this, does not fit even the most basic of legal requirements.

Stex.com will claim the account is beyond their control, but we have already issued legal warnings, and all wallets were reopened within a few hours.

Within the EU, you can issue a court claim in any jurisdiction. As the Estonian legal system is still a little behind, please go ahead with litigation against stex.com. You should also contact the Estonian regulators issuing the crypto licenses. Good luck!