Connection Between Swapgate.io and Quickex.io

[CreepyUncleJoe]

I wanted to point out that Swapgate.io and Quickex.io are exchanges under the same ownership, as some users have already noticed. They are hosted by the same Dutch provider (poorly concealed behind Cloudflare).

This doesn’t necessarily mean they are scams or untrustworthy; rather, it indicates that they are misleading when they deny their connection. In fact, the same individual is behind both platforms. Additionally, they do not have their own reserves; all exchanges are conducted through WhiteBit.

Many exchanges, particularly those listed on BestChange, are interconnected, meaning the same person operates multiple platforms. Recall the 47 crypto exchanges that were seized by German law enforcement. While I can’t state this with 100% certainty, I’m quite confident they share the same ownership and are likely hosted on the same server at Hetzner.

[Darker45]

This has been pointed out a number of times in the recent past already. Nothing's new. And it's not just Swapgate and Quickex that are connected. There are more of them. Perhaps most of the unknown exchanges that have been sprouting here like mushrooms probably share the same origin. Other exchanges like Sapfirex, Jarvis Exchange, Tasty Changer, among others come to mind. All of them might be operated by a single entity.

They're launching one after another after tweaking the interface a little, changing a few words here and there. Sometimes even forgetting to change the exchange name in the copy-pasted terms and conditions.

They have no reserves because they're merely resellers. They're third parties. They don't facilitate the trades themselves. They're an unnecessary layer.

[FinneysTrueVision]

These exchanges could be using the same white label service instead of creating their own exchange from scratch. Similar to how there are many mixers that are affiliated with Jambler.

I don’t know anything about these specific exchanges so I can’t vouch for their reputation. Having a similar interface is not itself suspicious because white labels are common. If one of them started selectively scamming then that would create doubts about all the other partner exchanges and I would recommend to stay away from them.

[hugeblack]

Some of these services are unregistered entities and yet they ask for KYC data from users and have the right to freeze the transaction for one reason or another while they are just API gateways for platforms like BINANCE OKX and others.

So I don't think there is any reason to use these services other than not imposing KYC restrictions and since they explicitly state that there is no point in using them.

In general, thanks for the warning, the ease of detecting the link indicates that these projects have limited programming and ready made scripts.

[AB de Royse777]

This doesn’t necessarily mean they are scams or untrustworthy; rather, it indicates that they are misleading when they deny their connection. In fact, the same individual is behind both platforms. Additionally, they do not have their own reserves; all exchanges are conducted through WhiteBit.

One company or an individual can have more than one projects under their belt. It does not necessarily mean they will need to mention it. It also does not harm if they want to keep it separate. If they are comfortable to deny connection then I don't see a harm too. It could be a policy they decided to implement. In most cases someone can have two separate team to look after two business and maintain the business without need of each team to collaborate with others. The account, marketing including everything else can be also totally different.

[examplens]

This has been pointed out a number of times in the recent past already. Nothing's new. And it's not just Swapgate and Quickex that are connected. There are more of them. Perhaps most of the unknown exchanges that have been sprouting here like mushrooms probably share the same origin. Other exchanges like Sapfirex, Jarvis Exchange, Tasty Changer, among others come to mind. All of them might be operated by a single entity.

Some of these exchangers have certain negative reviews or, for example, have been delisted from monitoring sites. Their reputation is the only thing that can attract new users, so in case it is damaged, it is easier to start a new exchange service, with a clean history.
At the same time, there is not much reason to close old sites, because the maintenance costs are very low, and they do not risk any money because do not hold any reserves, they are only resellers.

[dkbit98]

I wanted to point out that Swapgate.io and Quickex.io are exchanges under the same ownership, as some users have already noticed. They are hosted by the same Dutch provider (poorly concealed behind Cloudflare).

You need to provide more evidence if you are sure about connection between this two exchanges and same ownership, as well as whitebit claims.
Having the same terms of use it not good enough proof, and I saw many crypto companies using the same terms of use text with some modifications.
I am not defending Quickex or Swapgate in any way, but there is a clear difference between speculation and evidence.

[Darker45]

This has been pointed out a number of times in the recent past already. Nothing's new. And it's not just Swapgate and Quickex that are connected. There are more of them. Perhaps most of the unknown exchanges that have been sprouting here like mushrooms probably share the same origin. Other exchanges like Sapfirex, Jarvis Exchange, Tasty Changer, among others come to mind. All of them might be operated by a single entity.

Some of these exchangers have certain negative reviews or, for example, have been delisted from monitoring sites. Their reputation is the only thing that can attract new users, so in case it is damaged, it is easier to start a new exchange service, with a clean history.
At the same time, there is not much reason to close old sites, because the maintenance costs are very low, and they do not risk any money because do not hold any reserves, they are only resellers.

These are more or less disposable exchanges. They neither have a track record nor a reputation to begin with. If one starts bad, it can be abandoned right away. They're unknown brands anyway. They'll quickly launch another. Or it seems they're launching several at the same time, probably hoping one of them will somehow achieve something in the market.

Here on the forum it's somehow obvious. One that isn't pestered by criticisms, questions, concerns, and so on gets bumped every now and then, perhaps targeting a certain degree of name recall in the community. But one that is met with snide comments right away is left to die.