Potential Scam Concern: EPICEX Wallet Requires Deposit to Enable Withdrawal

[hung99hn]

Hello BitcoinTalk Community,

I recently started using a platform called EPICEX.IO for managing Bitcoin. However, I encountered an unusual issue while attempting to withdraw funds to my external wallet, and I would appreciate your advice or insights.

Issue Description:
My account currently holds 0.08 BTC.
When I tried to withdraw to an external wallet, the system showed my security score as 95/100 and stated that I must link my external account to my EPICEX wallet.
To link my accounts, I was instructed to deposit exactly 0.01 BTC into my EPICEX wallet. The system claims this deposit will be credited and available for withdrawal immediately after linking.
This is the first time I’ve encountered a requirement to deposit funds to enable a withdrawal, and it feels suspicious.
Concerns:
Is this a legitimate requirement, or is it a red flag for potential fraud?
Have other users experienced similar issues with EPICEX?
Is EPICEX a trustworthy platform, or should I avoid it altogether?
Additional Information:
The platform’s terms and conditions mention that wallets must reach a 100/100 security score to withdraw externally.
They also state that deposits must be made to “link” accounts.
I have no prior experience with EPICEX and couldn’t find enough information online to verify its credibility.
If anyone has used EPICEX before or knows about its reputation, I’d greatly appreciate your feedback. Is this a standard process, or am I being led into a scam?

Thank you in advance for your help!

Best regards,

[BlackBoss_]

Issue Description:
My account currently holds 0.08 BTC.
When I tried to withdraw to an external wallet, the system showed my security score as 95/100 and stated that I must link my external account to my EPICEX wallet.
To link my accounts, I was instructed to deposit exactly 0.01 BTC into my EPICEX wallet. The system claims this deposit will be credited and available for withdrawal immediately after linking.
This is the first time I’ve encountered a requirement to deposit funds to enable a withdrawal, and it feels suspicious.

If you deposit your coins, you have rights to withdraw it with a deduction for withdrawal fee. It's enough for withdrawal if you meet a min withdrawal limit of that exchange.

Deposit, and when you withdraw money, you have to deposit more. Let me tell you, it's not a potential scam, but it is a scam!

Don't deposit any more money there, you will lose more.

Cryptocurrency scam book. Deposit scam type.

[hung99hn]

Thank you for your clear guidance and for confirming my concerns about EPICEX. I appreciate your advice to avoid depositing any more money there to prevent further losses.

Let me clarify my situation: I am working with another member who also uses EPICEX. He paid me 0.08 BTC for a task, and that's the amount currently in my EPICEX wallet. He mentioned that he is in Ukraine and his wallet is temporarily restricted from sending BTC to external accounts, so he had to send the payment to my EPICEX wallet instead.

Given the situation, I just want to withdraw my 0.08 BTC to my external wallet. If I deposit 0.01 BTC to link my wallet as instructed, and even if the linking is successful, will I be able to withdraw the combined amount (0.08 BTC + 0.01 BTC) minus the withdrawal fee? In other words, will I still receive some value, or is it likely that I will lose everything?

I value your insights and look forward to hearing your thoughts.

Thanks again for your help!

Best regards,

[BlackBoss_]

Given the situation, I just want to withdraw my 0.08 BTC to my external wallet. If I deposit 0.01 BTC to link my wallet as instructed, and even if the linking is successful, will I be able to withdraw the combined amount (0.08 BTC + 0.01 BTC) minus the withdrawal fee? In other words, will I still receive some value, or is it likely that I will lose everything?

I don't care what task you did to get 0.08 BTC in that exchange account. It's big payment for you, but you know it's only big payment when you can take it to your non custodial wallet.

In your account on that exchange, it is only a number credited to your account, and that number is valueless.

Now, back to the question, did you withdraw your money successfully after you send 0.01 BTC to that account?
I believe you did not withdraw it or failed to withdraw it.

They will continue to give you whatever extra reasons, and request you to deposit more BTC to that account. Usually they will ask you to deposit x2 of a previous amount, and from 0.01 BTC, you will have to send 0.02 BTC, 0.04 BTC, and 0.08 BTC, and more.

You will never be able to withdraw your money from them, never, and sending more means you lose more.

[hung99hn]

Thank you for your detailed explanation and for pointing out the potential risks.

To clarify, I have not yet deposited the 0.01 BTC to EPICEX because I also doubt the legitimacy of their system. I don't have any evidence or guarantee that I will be able to successfully withdraw my funds even after making the deposit.

Your point about them possibly continuing to request larger deposits with no resolution is very concerning, and it aligns with the doubts I’ve had from the beginning. Based on your advice, I believe it’s safer to avoid depositing anything further and cut my losses here.

I truly appreciate your guidance and the time you’ve taken to explain this to me. If there’s anything else I should be aware of, I’d be grateful to hear it.

Best regards,

[FinneysTrueVision]

Searching their website on the Internet Archive, it shows that it was some token project that launched several years ago but was shut down in 2021.

ANNOUNCEMENT

Dear EPIC Community,

We regret to announce that EPIC project will be shut down on August 22, 2021.

The current version of the website has only been online for several weeks. They do no not have any WHOIS protection so all the registration information is publicly visible. The email they used is also linked to the website magicedlen.us, which looks almost identical to the real Magic Eden NFT marketplace. If they are impersonating Magic Eden, then we can assume that the Epicex website is definitely a scam.

[hung99hn]

Thank you so much for sharing this valuable information. The details you provided about the website’s history, its shutdown announcement in 2021, and the connection to the impersonation of Magic Eden are incredibly helpful.

This confirms my suspicions and makes it clear that EPICEX is not a legitimate platform. I really appreciate the time and effort you took to look into this and share your findings with me. It has saved me from potentially losing more.

If there’s anything else I should be cautious about or further steps I should take, please let me know. Thank you again for your guidance!

Best regards,

[JeromeTash]

If there’s anything else I should be cautious about or further steps I should take, please let me know. Thank you again for your guidance!

Best regards,

All I can advise you is to be extra careful when it comes to crypto. There are so many scammers out there scheming for all ways of getting your hard-earned funds. I like how you came around to inquire about something you were not sure. Please, I encourage you to do the same in the future if you are not sure about a service, a wallet or an exchange.

[un_rank]

Let me clarify my situation: I am working with another member who also uses EPICEX. He paid me 0.08 BTC for a task, and that's the amount currently in my EPICEX wallet. He mentioned that he is in Ukraine and his wallet is temporarily restricted from sending BTC to external accounts, so he had to send the payment to my EPICEX wallet instead.

His story does not add up and it is very possible the member is aware that the said wallet is not legitimate and is using it as a means to escape paying you and possibly also scamming you. ANY wallet service that requires you to deposit before you can withdraw is a scam, avoid it.

Reach out to the member to find other means to pay you for your service as the suggested one is not legitimate. Payment options has to be convenient for both parties and remember to get an escrow next time.

- Jay -

[hung99hn]

Thank you both for your valuable guidance and insights.

To JeromeTash: I truly appreciate your advice about being extra cautious in the crypto space. You're absolutely right—there are so many scams out there, and it's reassuring to know that I can reach out for advice when I'm uncertain. I will definitely keep this approach in mind for any future services, wallets, or exchanges I encounter.

To Jay: Thank you for highlighting the inconsistencies in the story and confirming that wallets requiring deposits to withdraw are a clear red flag. Your suggestion to reach out to the member for an alternative payment method is very helpful, and I will proceed accordingly. I will also make sure to use an escrow for future transactions to avoid such complications.

I’m grateful for the time and effort you both took to guide me. Your expertise has been invaluable in helping me navigate this situation.

Best regards,

[Text]

Good thing you thought of reaching out here before taking the next steps because if not, the problem you're worried about might have gotten worse.

In situations like this, any wallet or platform that demands additional deposits to enable withdrawals is a glaring red flag. So if ever you had made a deposit with them, it would have gone straight to them.

Most likely the person you completed the paid task for is part of that platform and has plan to scam you.

[tabas]

Thank you both for your valuable guidance and insights.

To JeromeTash: I truly appreciate your advice about being extra cautious in the crypto space. You're absolutely right—there are so many scams out there, and it's reassuring to know that I can reach out for advice when I'm uncertain. I will definitely keep this approach in mind for any future services, wallets, or exchanges I encounter.

To Jay: Thank you for highlighting the inconsistencies in the story and confirming that wallets requiring deposits to withdraw are a clear red flag. Your suggestion to reach out to the member for an alternative payment method is very helpful, and I will proceed accordingly. I will also make sure to use an escrow for future transactions to avoid such complications.

I’m grateful for the time and effort you both took to guide me. Your expertise has been invaluable in helping me navigate this situation.

Best regards,

Most newbies should be like you. Before proceeding to something suspicious that is likely easy money that you've found as if they're a gem you should ask first the community. Just as explained by them, that tactic is a scam. Even if you deposit that amount they're asking, it will be an infinite loop that they'll keep you asking for more. That another member that had paid you 0.08 for sure is the owner or related to the owner of that scam website. 0.08 BTC or worth $7,600 in today's value for some task is too good to be true. And if there will be scenarios like this, if the money is too good to be true like you'll receive it almost free or by doing nothing, they're mostly tricking you and trying to scam you.

[Z-tight]

Let me clarify my situation: I am working with another member who also uses EPICEX. He paid me 0.08 BTC for a task, and that's the amount currently in my EPICEX wallet. He mentioned that he is in Ukraine and his wallet is temporarily restricted from sending BTC to external accounts, so he had to send the payment to my EPICEX wallet instead.

We have seen situations like this before, did you have an account in Epicex before meeting this person, or was he the one who instructed you to open an Epicex account to receive payment from him for the work you did?

I'm sorry, but this is a scam, there is no 0.08 BTC in your account, all you can see there is just numbers, they want to scam you off your 0.01 BTC and they will continue to ask for more money until you give up. I believe this person is part of the scam, so be careful with them from now on.

[hung99hn]

We have seen situations like this before, did you have an account in Epicex before meeting this person, or was he the one who instructed you to open an Epicex account to receive payment from him for the work you did?

Hi, I just know EPICEX by the instruction from him, the person paid me 0.08 BTC and he said he cannot send to my external wallet due to some restriction

[Darker45]

I wonder how you ended up working with a guy who introduced you to Epicex. My hunch is that he's a complete stranger who somehow crossed paths with you online. Be careful trusting people you randomly meet on the internet, especially the friendly ones who approach you first. They're oftentimes predators looking for gullible preys. 

Anyway, don't make that deposit. Also, forget about your work and your work's payment. It isn't there, to begin with. He's only trying to get money from you. 

By the way, are you referring to EPIC Epicex in India that looks like a scam or Epicex.io?

[hung99hn]

the site I am now referring is:

Code:

https://epicex.io/ 

[Z-tight]

Hi, I just know EPICEX by the instruction from him, the person paid me 0.08 BTC and he said he cannot send to my external wallet due to some restriction

Thanks for the confirmation, it is 100% a scam, so i recommend you move on from this, whoever you are communicating with is also part of the scam, he didn't make any payment to you, the payment they are waiting for is your deposit and they will scam you and come up with something after that. Like i said, move on from this.

Don't post the link of a scam website like this, put it in the codes icon, so newbies don't click it and fall for this scam.

[Pmalek]

Sadly, you ran into a scammer who tricked you into doing something for them and pretended they paid you 0.08 BTC over that scam exchange. Unfortunately, you wasted your time for nothing and ended up working for free.

That's the first scam. No bitcoin was ever transferred anywhere. It's just a fake number in your account. They could as well have entered 8 BTC there.
The second scam is trying to take money out of your pocket. That's the 0.01 BTC they want you to deposit so they can steal it.

There is no such thing as linking accounts and wallets to increase "security scores" on legitimate platforms. Their ultimate goal is to steal your 0.01 BTC and potentially more if you play their game. People fall for it all the time, thinking it makes sense depositing a smaller amount to get the bigger one. In reality, it's the smaller sum they are after.

[Z-tight]

People fall for it all the time, thinking it makes sense depositing a smaller amount to get the bigger one. In reality, it's the smaller sum they are after.

Exactly, that is part of the scammers trick to make the person feel they just have to pay a small fee to get a larger amount, and in that time the person would not reason that they should never deposit into any platform in order to be 'eligible' to withdraw. The service should simply allow you withdraw whatever you have in your account, minus tx fee.

Good thing for op is that they asked this question here first, not after they have been scammed, it is crazy, but most people make threads like this after they have been scammed.

[BitMaxz]

The domain was just created a month ago. How did you end up using this wallet? Without deep research or asking someone trusted or even here on the forum?
That is not a good practice because 0.08 is a large amount unless it is not yours, and they may have told you that you have 0.08BTC in your wallet and then asked you to deposit 0.01BTC in order to withdraw it.
If they ask something like that, that's a scam, and there's no free money online. Look at the WHOIS below:

Code:

Domain:
epicex.io
Registrar:
Web Commerce Communications Limited dba WebNic.cc
Registered On:
2024-11-21
Expires On:
2025-11-21
Updated On:
2024-11-26

It was registered last month with lots of blackhat links under this domain, meaning they are spreading this everywhere. So if you just found one of their links and end up chatting with one of their representatives and they lead you to this site with a promise that there's a free BTC in that wallet, then that's a 100% scam.