The Change LTD - Questionable Service & Signature Campaign

[Joel_Jantsen]

Hello folks, I was just lurking around the Services section when I came across The Change Ltd Signature Campaign | $50 reward/w. The company being promoted The Change in that thread seemed quite the opposite of whats mentioned on their website. The thread states

What can you expect from The Change Ltd?__________________
The Change Ltd provides  The fastest possible processing of transactions  in any direction. There are more than 250 coins available pools of cryptocurrencies, The Change Ltd provides unique functionality of your personal account, it also provides flexible and transparent commission system. You will receive truly clean money only from their exchange pools. The simple API provides you the fastest possible development of your own project, the innovative bot is ahead of competitors with completely new functionality. Join The Change Ltd and become part of the next generation of cryptocurrency exchange!

However, the official website doesn't have any of this information rather a whole lot of "promote us" stuff. There is no company information either. Their medium page has 3 articles that also focus on airdrop, rewards, and payout pools. Had it been some degen alt project I could understand. However since this service claims to be a crypto exchange that rewards you after depositing money on their platform, it seems quite questionable. Cross-referencing their blog,

▪️ Making Exchanges: Use our exchanger and make any transactions.

Moreover, the signature campaign manager in question has some negative feedback along the same lines

Promoting and even being part of a shady crypto casino. Poor management, poor excuses with various withdrawal requests not having ever been executed for weeks.

I consider that has some relevance here since this service does come off as very shady to me. Maybe this is all fair and they're genuinely trying to test and build a product but I'd be careful and take precautions while depositing
money on their platform (which practically doesn't exist).

Feel free to share your thoughts.

[CryptoHeadlineNews]

Maybe this is all fair and they're genuinely trying to test and build a product but I'd be careful and take precautions while depositing
money on their platform (which practically doesn't exist).

Feel free to share your thoughts.

Thou, it's okay to doubt the authenticity of an exchange, but in this case, I think its abit earlier to start probing a campaign that is not yet a day old on the forum, because sometimes, we never can tell, as maybe this exchange might be new and still working on more upgrades, and as such just decided to come to this forum to get more exposure. So on that note, I think will be good to hear what the exchange representative has to say about this allegation. Secondly, thou AB De Royce777 might have got some negative trust, it doesn't mean he/she is inexperienced, as he/she has been into the business for long and know how it's works

[Stalker22]

This is an interesting case, and Im curious.  I dont know what they are even promoting with a signature campaign when their exchange is not even operational yet?
I will have to look into this more deeply when I have more time.

@CryptoHeadlineNews, its never too early to investigate the authenticity of any new business entering this space.  Lets start with their name.  Using the term "Ltd" implies limited liability, which requires specific legal registration. Without this, they are falsely representing their business. This is not only misleading but could potentially be a fraudulent practice.  Would you really be willing to risk your money with such a "business"?

[Odusko]

Thanks for bringing this up, I wonder why no one have noticed that yet, may be because most of the knowledgeable forum members have not been active since this signature campaign was posted some hour's ago, but then this is a good job, if you see something, say something, this is the best approach to keeping our community free and clean from junk projects.
But before we arrive at a conclusions on this matter, I suggest we give time so that other forum members can do they own personal investigation about this service because if you look closely from what you wrote, there is multiple red flags about the project, but still yet let give room for more clarifications, I have not visited the exchange site yet to know whats up with them but I will do that right away and make my findings public as this discussion progress.

[Odohu]

I just visited the exchange and the first thing I saw was Beta testing... as shown below:



This shows the exchange is still undergoing testing and not fully developed, hence, it is not proper to judge them yet until they go live. Even though I feel a review campaign would have been a great way to start, I don't see anything wrong with the company choosing a signature campaign as a way of drawing people's attention to their project... it is their marketing budget and they have the liberty to use it as they want provided they did not break the forum rules. In addition, there is a reward for those that will test their exchange, so I think the plan is to draw people to the exchange through the signature campaign to get enough testers, this being my personal opinion and I can be wrong. I will wait for the response of others on this topic to see their perspective.

[nutildah]

(Note: this post only addresses the "questionable service" component of this subject)

Well, we're not off to a good start here:



Entire site is in Russian for me and when I click on the Flag/Language button, it directs me to their Telegram page.

Everything about the project is very new, they don't really have any social media followers to speak of. In one of their Medium articles they do make a bold and somewhat perplexing claim:

"Roadmap of the project is the creation of the CoinJoin interface, the difference with the mixer is that it is legal, we do not launder funds, but simply will create private transactions that are mathematically impossible to trace, therefore, there will be a real 100% anonymity, and the coordinator you choose yourself, if to give an analogy we will be like Wasabi Wallet only with a web interface."

So how isn't that money laundering, or how would they stop people from using their service for money laundering?

Aside from that, as a completely new service, its gonna be starting at zero in terms of reputation and it will take years for it to be considered trustworthy (well IMO at least 2 years of doing what it says they're gonna do).

I understand the point of the bounty is to promote it. I don't see any real red flags about the business off the bat. A reverse IP lookup finds just one other site hosted on their IP address, but it might not necessarily mean anything as its a collection of Chinese fiction stories.

Of course, there's nothing available about the founders or their experience; the default management style is to be anonymous in these types of ventures, which is understandable in this case.

[hugeblack]

Everything about the project is very new, they don't really have any social media followers to speak of. In one of their Medium articles they do make a bold and somewhat perplexing claim:

This looks interesting, I thought it was a crypto exchange trying to use crypto APIs especially since they have AML/refund policy which is something that does not happen in the case of coinJoin.

the explanation in the roadmap indicates something completely different.

Roadmap of the project is the creation of the CoinJoin interface, the difference with the mixer is that it is legal, we do not launder funds, but simply will create private transactions that are mathematically impossible to trace, therefore, there will be a real 100% anonymity, and the coordinator you choose yourself, if to give an analogy we will be like Wasabi Wallet only with a web interface.
..

Also in the near future will be the possibility of opening your own project and not just on the API, and you get a ready-made code in which under yourself through the admin panel, customize the design and can safely pour traffic already on your own exchanger with your personal brand.

I tried to use the service but the entire site is in Russian and the translation does not work in addition to the fact that they are in beta.

The signatures campaign and some data in altcointalks indicate that they plan to work for a month and then evaluate the results especially with the low number of members who will be accepted and the balance in escrow is 0.03279058.

After running the service we will see if it is a coinJoin interface or a crypto exchange but the first thing I will ask them is to put an amount in escrow (1 bitcoin for example)

[examplens]

They appeared (July 24) on the Altt forum, starting a review campaign, even though they didn't even have a website then. Now here again with a rather incomplete site that is, as they say, in the beta phase. Even then, they announced August 10 as the start of the promotion, but the motive for going public with an incomplete platform is still unclear.

[FatFork]

Well, The Change Ltd doesn't give us a whole lot to evaluate them on, do they? Just a flashy website that reads more like an advertisement than anything.  Brand new social media with barely any posts or followers too and  makes me kinda suspicious that they're not being straight with us about this high-speed crypto exchange they claim to have.  Feels like they want people hyped up about something that maybe doesnt even exist yet. 

I'd be careful about buying into big promises with nothing to back em up.  A little transparency could go a long way here.  Of course I could be totally wrong! But until The Change shows us some more on their tech and team it's hard not to wonder if there's less going on than meets the eye.

[KingsDen]

You will receive truly clean money only from their exchange pools.

Does this statement not appear like a mixing activity somewhere behind the scene?
Maybe, the project owners will need to come clarify themselves here.

Moreover, the signature campaign manager in question has some negative feedback along the same lines
Promoting and even being part of a shady crypto casino. Poor management, poor excuses with various withdrawal requests not having ever been executed for weeks.

I'll suggest that we separate the issue in question with the reputation of the campaign manager. We all were here and we witnessed some cases relating to him including that of betlucy. But R7 since then had managed many projects in the forum such that his reputation shouldn't be in doubt anymore.

[d5000]

Does this statement not appear like a mixing activity somewhere behind the scene?

Not necessarily. Exchanges often maintain a "doubtful" and a "clean" pool of coins to avoid paying out doubtful coins to their customers.

If you wrote this due to the mixer ban, it is also not relevant: the relevant point is that a mixer enables users to exchange coins from a single chain to coins from the same chain with "increased privacy". If the service doesn't offer BTC <-> BTC or LTC <-> LTC or whatever, but only BTC <-> LTC, BTC <-> ETH etc., then it's an exchange and allowed, even if there are privacy technologies working "behind the scene". What isn't allowed is if there's only a temporary exchange and then you get back coins of the original chain.

I also think it's too early to judge this project, they seem to be in a very early stage, although of course the current state leaves a lot to be desired.

[BitcoinGirl.Club]

Lets start with their name.  Using the term "Ltd" implies limited liability, which requires specific legal registration. Without this, they are falsely representing their business. This is not only misleading but could potentially be a fraudulent practice.  Would you really be willing to risk your money with such a "business"?

Is there any special requirement for the "Ltd" TLD? I think it's just a name.

Isn't it an exchange @Joel_Jantsen? I wanted to check the functionality [Didn't make a transaction though], it looked to me things are working fine. A question could be how to trust a new exchange. I think when every business starts, they starts as new. The site looks very clean and well organized. We need to give them time.

[Stalker22]

Lets start with their name.  Using the term "Ltd" implies limited liability, which requires specific legal registration. Without this, they are falsely representing their business. This is not only misleading but could potentially be a fraudulent practice.  Would you really be willing to risk your money with such a "business"?

Is there any special requirement for the "Ltd" TLD? I think it's just a name.
~

Im not just talking about the TLD here. But using that Ltd bit in their company name rubs me the wrong way.  Everyone knows Ltd is short for Limited, which is a type of business set up in places like the UK (kinda like an LLC here or GmbH in Germany).

Implying limited liability without the legal backing is misleading and potentially fraudulent. Its like claiming to have a PhD without earning it.  Its not just about semantics; its a blatant misrepresentation that undermines trust and credibility.  You wont find any legitimate businesses doing this.

[examplens]

Im not just talking about the TLD here. But using that Ltd bit in their company name rubs me the wrong way.  Everyone knows Ltd is short for Limited, which is a type of business set up in places like the UK (kinda like an LLC here or GmbH in Germany).

Implying limited liability without the legal backing is misleading and potentially fraudulent. Its like claiming to have a PhD without earning it.  Its not just about semantics; its a blatant misrepresentation that undermines trust and credibility.  You wont find any legitimate businesses doing this.

If the registration of a TLD is unconditionally allowed, then there is no room for complaint. The choice is simply to select the domain that seems to the owner to be the best-sounding name for his business.

Isn't it an exchange @Joel_Jantsen? I wanted to check the functionality [Didn't make a transaction though], it looked to me things are working fine. A question could be how to trust a new exchange. I think when every business starts, they starts as new. The site looks very clean and well organized. We need to give them time.

It seems that the platform is now functional, and the campaign as well (we are also waiting for the payment day), but maybe this is a premature drama. The fact that the campaign does not promise too high a payment rate does not mean that we have to immediately doubt everything.

[logfiles]

I just thought this could be an important development to add to this topic for those who might have to known yet. In the previous days they had no ANN, but today they created one in this forum: The Change Ltd automatic Cryptocurrency Exchange | ≈$21K Escrow

While this does not guarantee the longevity of the service, I think this could help ease up some tension about their service or signature campaign in the meantime

..ATTENTION, SOME HELPFULL INFORMATION..

 Who is the Owner and Developer?
CodeLipHT21 from Zelenka. CodeLipHT21 is renowned for his skills and is recognized as one of the best developers on the forums.

 Escrow Information
In case any unpleasant issue between us and any of our client, Royse777 will evaluate the case and resolve it. The escrow balance guarantee a fair resolution to any potential unpleasant case.

Zelenka : 1,001,000 RUB ≈ $11519.11
AB de Royse777 : $10K BTC (funding soon)[/center]

[FinneysTrueVision]

After running the service we will see if it is a coinJoin interface or a crypto exchange but the first thing I will ask them is to put an amount in escrow (1 bitcoin for example)

It is just a typical instant exchange.



Their reputation is not yet established but that does not make them questionable. I will withhold judgment on their trustworthiness until more people have started using them. The web based coinjoin interface is probably an additional service they are still building. Blockchain Wallet used to have something called SharedCoin, so it is something that has been done with web wallets before but there is still many questions as to how The Change LTD intends to create a Wasabi-like service on the web.

[hugeblack]

After running the service we will see if it is a coinJoin interface or a crypto exchange but the first thing I will ask them is to put an amount in escrow (1 bitcoin for example)

It is just a typical instant exchange.

The site was not working, just a few texts in Russian. the service now looks more professional.

The web based coinjoin interface is probably an additional service they are still building. Blockchain Wallet used to have something called SharedCoin, so it is something that has been done with web wallets before but there is still many questions as to how The Change LTD intends to create a Wasabi-like service on the web.

I think Mixero mixer offers a similar service. SharedCoin doesn't give you much privacy in addition to the large amount of information collected by the centralized server so current coinJoin services and mixers offer better privacy.

[BitcoinGirl.Club]

If the registration of a TLD is unconditionally allowed, then there is no room for complaint. The choice is simply to select the domain that seems to the owner to be the best-sounding name for his business.

I second that, there are no room for a drama just because the domain TLD is Ltd. What matters is the service. Are they providing that they promise? If so then there are nothing to talk about. If there is any accusations related to exchange then post it in the scam accusation ask the team to clarity and resolve.

The fact that the campaign does not promise too high a payment rate does not mean that we have to immediately doubt everything.

There was this mixer I can not remember there name [something wind], they scammed many customers and they were paying huge amount for the campaigners. We don't want to see a business who is offering unrealistic reward and at the end scamming their customers. Every business have a marketing budget and there are no reason for them to empty out of the budget to create a fake hype.

[LoyceV]

There was this mixer I can not remember there name [something wind], they scammed many customers and they were paying huge amount for the campaigners.

Technically, the didn't scam anyone. They just disappeared without a trace, and still have $14,431.27 in escrow after all claims were paid by the escrow.
The user disappeared, the site disappeared a few months later, the escrowed funds were not claimed back. I can only guess what happened to them.

[examplens]

There was this mixer I can not remember there name [something wind], they scammed many customers and they were paying huge amount for the campaigners.

Technically, the didn't scam anyone. They just disappeared without a trace, and still have $14,431.27 in escrow after all claims were paid by the escrow.
The user disappeared, the site disappeared a few months later, the escrowed funds were not claimed back. I can only guess what happened to them.

You forgot to say that the escrow mostly served to cover the costs of the signature campaign. I think there were only one or two cases where someone had stuck mixed funds.
Yes, the assumption of what happened to the owner is not the happiest.