[Closed] ZeusMEX — instant cryptocurrency exchange.

[Learn Bitcoin]

Okay I understand but my suggestion is exchange should be cryptocurrency to fiat  and not cryptocurrency to cryptocurrency, if you want to market your service in the whole wide. We have a lot of exchanges that exchange crypto/crypto. And all the centralized exchanges do that and their services are all currencies but yours different and the method of transaction is where I am interested in. Because it looks like a mixing operating system.

Look, every business has its own business plan and its own strategy. You cannot really ask to change their business model just because you want this and that. There are a lot of platforms that offer a crypto-to-crypto exchange, but if Zeusmex can provide better service, then they will surely get customers. Dealing with fiat is more risky and it will not going to be an automated process. If you want to exchange crypto for fiat or fiat for crypto, you should use an exchange that has p2p features. Or other exchanges that run manually.

Currently, according to Zeusmix, their exchange process is automatic and they do not deal with fiat. If you ask me why you should use such an exchange over biggest exchange like Binance, well zeusmex is an instant exchange where you do not have to sign up and you can exchange your crypto without doing KYC.

[logfiles]

@ZeusMEX, something more came up in my mind. Have you considered getting listed on kycnot.me?
I think can request to get listed here as will to increase exposure of your service (https://kycnot.me/request/service). I am pretty sure will get high ratings among exchanges, (probably 9 or 8/10) since your service does not require KYC verification.

[Kavelj22]

Zeusmix does not charge a fee for refunds. Refunds for TRC-20, BEP-20, and ERC-20 tokens are made by sending the user the private key that holds their funds.

Anyway, this is the weirdest way, potentially causing further problems since private keys are not supposed to be shared between 2 or more parties. If I somehow get caught on AML radar, I can just withdraw my funds while I file complaint that it wasn't me who did it.

When I know my private key and I shared my private key with you then it's me and you. According to Zeusmix terms, they will share the private key to the customer who is expecting the refund. Which means Zeusmix and the customer only know the private key. The same private key sharing model business was done by a highly established crypto service not long ago. They were doing the business successfully for around half a decade. I do not think this is going to be a problem at all.

I remember that highly established crypto service. But I also remember that they share private keys in form of "Chips" and they promise that it should be automatically deleted after 7days from their servers. This means that the custmer will be the only owner of that private key if he would prefer not to withdraw it to his own address. Then what happened? The service was seized, and several terabytes of data were seized from its servers. Among that data were private keys for chips that were supposed to have been sent to their owners more than a week ago, which means that they have not been erased. In fact, this was confirmed through complaints from users, some of whom confirmed that they had been keeping those private keys for more than three months.

I still think that this cannot be the best way to make a refund for the service that is the subject of our discussion now. Especially since there are other ways that are smoother and safer. I mean, I don't see a need to devise such methods that may not be accessible to everyone. I'm sure not everyone is good at handling their private keys carefully.

[ZeusMEX]

At the moment, our service is undergoing technical maintenance. All obligations to our clients were fulfilled before starting the maintenance. We apologize for any inconvenience caused. We will keep you informed about future updates.

Unfortunately, due to the financial problems of our investor, our exchange cannot continue to operate. We will inform you about future updates if there are any

[Mr.right85]

At the moment, our service is undergoing technical maintenance. All obligations to our clients were fulfilled before starting the maintenance. We apologize for any inconvenience caused. We will keep you informed about future updates.

Not what we hope to see at this time but, it’s only understandable that with a new launch as we’ve got ourselves here, especially one dedicated to taking its customer and review base seriously, there have got to be time outs like these to input some of those suggestions in the CEX programming and by so doing, expand its scope of service, operation and user base capacity.

Being an exchange that needs no registration and keeps no data on customers, it makes the thread of obvious importance being a means to communicate updates. We hope to see you guys active in no time.


Just to note on those changes,
Nice having to see you guys having to change your prefix from Mix to Mex, that’s a creative means to effect a correction (i - e).

[tvplus006]

At the moment, our service is undergoing technical maintenance. All obligations to our clients were fulfilled before starting the maintenance. We apologize for any inconvenience caused. We will keep you informed about future updates.

In accordance with your rebranding, you have registered a new domain zeusmex.com, while the old domain zeusmix.com it has become unavailable to users. You need to set up redirection from the old domain to the new one, otherwise you may lose some of your old clients.

[Learn Bitcoin]

Am I making any mistake because I was unable to access the exchange. I first tried it on my phone and then also tried it on my laptop.
If I want to access the site using zeusmex.com, this is what I will first see:.....

.....This makes it impossible for me to access the exchange.

Well, as you can see, Zeusmex has already announced that their service is under maintenance. They are working on rebranding the website and fixing some possible issues. I don't know how you were able to access the first page you shared, but the maintenance is not finished yet, and it's not only for you but for everyone else. You can see their announcement, which I quoted below.

Edit: seems like you understand already and removed your post. 

At the moment, our service is undergoing technical maintenance. All obligations to our clients were fulfilled before starting the maintenance. We apologize for any inconvenience caused. We will keep you informed about future updates.

[_act_]

Edit: seems like you understand already and removed your post.  Tongue

Yes, I deleted the post even before your post. I was eager to exchange some coins before which blinded me not to read that. But I later read it and saw that the site is under maintenance. I will check back later to see how the exchange is.

[AB de Royse777]

I was eager to exchange some coins before which blinded me not to read that. But I later read it and saw that the site is under maintenance. I will check back later to see how the exchange is.

Still the maintenance is in progress. The management is working hard behind the project and once the site is back to functional, the management will post an update. The signature campaign members are requested to continue their forum activities without any worry.

Cheers,

[dkbit98]

As a company that complies with AML regulations on par with other exchanges, in case of a token refund, we can only provide the private key where these tokens are stored.

This is the first time I heard that centralized exchange is sending private keys to it's customers, it sounds strange and risky to me, and I wonder how this will work in real life scenarios related with incompatible private keys.
I wanted to perform some basic testing of Zeusmex exchange but service is not available now because of technical maintenance work.

[examplens]

Still the maintenance is in progress. The management is working hard behind the project and once the site is back to functional, the management will post an update. The signature campaign members are requested to continue their forum activities without any worry.

Cheers,

Looks like there's something to worry about 
Update from OP, Zeusmex is out of business. Unfortunately, they did not last long, although they seemed promising.
I assume that the signature campaign is over.

ZeusMEX — instant cryptocurrency exchange.

Unfortunately, due to the financial losses of our investor, our exchange cannot continue to operate at the moment.

[Forsyth Jones]

Looks like there's something to worry about 
Update from OP, Zeusmex is out of business. Unfortunately, they did not last long, although they seemed promising.
I assume that the signature campaign is over.

This was so sudden, could it be that they invested too much in the project and the investor needed to get that capital back? Well, I think the chances of the exchange giving us an update on this are very slim.

They could retreat and go after other investors or angel investors, since the project has a good proposal, someone would certainly embrace it, but this farewell to the market raised suspicions.

[examplens]

This was so sudden, could it be that they invested too much in the project and the investor needed to get that capital back? Well, I think the chances of the exchange giving us an update on this are very slim.

They are out of business, why would they maintain any update and what would they have to inform us about? About their daily activities from real life?

They could retreat and go after other investors or angel investors, since the project has a good proposal, someone would certainly embrace it, but this farewell to the market raised suspicions.

There is not much room for doubts and any conspiracy theories here, they did not calculate everything well, and it was obviously not the investor's primary concern that the service succeeded.
No room for extra drama here, they can probably lock this topic.

[tabas]

So it was all maintenance but probably a board discussion whether to continue with the operations or not and then came up with the decision. It only took them only a short time of being introduced in the forum and they're out of business. Before everyone even tried them, they already stopped the operations.

They could retreat and go after other investors or angel investors, since the project has a good proposal, someone would certainly embrace it, but this farewell to the market raised suspicions.

It's not easy to find angel investors nowadays, tech companies are laying off more employees to save cost and operations. And that might be one of the issues of their investors pulling out their money on this exchange.

[logfiles]

So it was all maintenance but probably a board discussion whether to continue with the operations or not and then came up with the decision. It only took them only a short time of being introduced in the forum and they're out of business. Before everyone even tried them, they already stopped the operations.

I could just be more than that.

Perhaps a legal or Law enforcement issue because the manner in which they decided to whip up everything in a short time, including all the social medial handles. Maybe there was something brewing up in the background that we did not know about.

Anyway, it's unfortunate that they closed shop.

[PX-Z]

They could retreat and go after other investors or angel investors, since the project has a good proposal, someone would certainly embrace it, but this farewell to the market raised suspicions.

But not totally, decentralized financial platforms is like an illegal offence to regulators and authorities these days. If this was related to the main reasons why they eventually stop operating - investors stop its investments to them (losses) due to this. Then it could really harm the future decentralized businesses, unfortunately.

[tabas]

So it was all maintenance but probably a board discussion whether to continue with the operations or not and then came up with the decision. It only took them only a short time of being introduced in the forum and they're out of business. Before everyone even tried them, they already stopped the operations.

I could just be more than that.

Perhaps a legal or Law enforcement issue because the manner in which they decided to whip up everything in a short time, including all the social medial handles. Maybe there was something brewing up in the background that we did not know about.

Anyway, it's unfortunate that they closed shop.

Possible but it's surprising with all and such coming from their spelling of mix to mex and this and that, now have come to an end.

But not totally, decentralized financial platforms is like an illegal offence to regulators and authorities these days. If this was related to the main reasons why they eventually stop operating - investors stop its investments to them (losses) due to this. Then it could really harm the future decentralized businesses, unfortunately.

Investors should have foreseen that or should we say "financier" instead of it since their business in nature is decentralized. But I don't think that even in decentralized exchanges or businesses, there's no way to go but also to get registered just like what happened to most crypto casinos.

[NotATether]

They could retreat and go after other investors or angel investors, since the project has a good proposal, someone would certainly embrace it, but this farewell to the market raised suspicions.

But not totally, decentralized financial platforms is like an illegal offence to regulators and authorities these days. If this was related to the main reasons why they eventually stop operating - investors stop its investments to them (losses) due to this. Then it could really harm the future decentralized businesses, unfortunately.

This was almost certainly not related to any legal regulations. The OP explicitly mentioned that the investor suffered losses. This makes me think that he had a boating accident () or he irresponsibly gambled all the exchange funds away at some casino. In any case, the ZeusMEX financier does not strike me as a reliable or trustworthy one, so I hope they are able to find a new partner to continue business.

[AB de Royse777]

Still the maintenance is in progress. The management is working hard behind the project and once the site is back to functional, the management will post an update. The signature campaign members are requested to continue their forum activities without any worry.

Cheers,

Looks like there's something to worry about 

Worry is that unfortunately all marketing on the forum is going to stop. I was updated by the team yesterday. As a part of transparency the update was posted. If anything changes in the direction of continuing the business again everyone will be updated. But in the mean time we will stop all type of marketing.

Thank you everyone who was excited and supporting the brand.

[Odohu]

I could just be more than that.

Perhaps a legal or Law enforcement issue because the manner in which they decided to whip up everything in a short time, including all the social medial handles. Maybe there was something brewing up in the background that we did not know about.

Anyway, it's unfortunate that they closed shop.

Even though I cannot substantiate this line of thought, I really feel it has something to do with the authorities. The closure was sudden considering that they rarely even started. Every business takes sometimes to become profitable and a business of this magnitude should have envisaged some challenges at the beginning if there were no external factors at play here. So my best guess is that they ran into problems with the authorities which might have made the investors incur some losses in a business that is just getting started.