[SCAM WARNING] Godex locked my coins

[apogio]

EDIT: I created a flag against Godex_io. For additional info, please follow along with the rest of the thread.

EDIT 2: I was refunded without sending any ID information. It took 4 months to get a refund, but fortunately I did. I have added a neutral tag, while maintaining my previous negative ones for history. I have also removed my support in my own flag.



Hi all!

My story

I am all-in towards privacy and my exchanges always take place in various services and apps that are censorship resistant.

After eXch shut down, I needed to use another service to convert one of my UTXOs into XMR.

I decided to use Godex.io, in order to do my job, since it was supposed to be KYC-free.

As a result, my coins are locked there and they require me to send them:
a) a picture of me holding my ID card.
b) a picture of me holding a piece of paper that has the phrase "Godex" written upon it and the current date.

The "fun" part is that they don't refund me my money without giving them my personal information.

I am obviously not going to share my info with an unregulated exchange.

I am thinking about going legally against them, but they are based in the Seychelles, so it seems to me that I will most likely lose time and money to do it.

Nervermind...

Conclusion
1. Be careful who you trust. Even if the service is non-KYC, or is supposed to be a DEX, be careful. When you send your funds to a service in order to be exchanged, mixed or whatever, you lose (hopefully temporarily) the custody of the funds. Never forget this.

2. Prefer to use Bisq, or other services where custody remains under your control, or, at least it's not transferred entirely to a third party.

3. LoyceV said it perfectly here, and I support this:

I'm (up to some point) okay with centralized but well-known and regulated services (be it casinos or exchanges) that require KYC. I'm also okay with completely anonymous but trusted services that don't ask for any personal data.
Problems start when unregulated exchangers demand personal data after depositing, which many exchangers seem to do. We need more trusted exchangers, not less.

[Oshosondy]

There is something that is also flawed about noKYC or decentralized exchanges. Let us take for instance you are selling bitcoin but a buyer decide not to send the money because he is planning to scam you, the decentralized exchange will ask for statement of account which is enough to know about you. This can happen on any noKYC or decentralized exchange.

[LoyceV]

I decided to use Godex.io, in order to do my job, since it was supposed to be KYC-free.

Their own website contradicts itself:

We never collect your personal data and delete information about orders after two weeks.

we maintain comprehensive records of customer identification information and transaction history.

Trade freely, no strings attached

measures to verify the identity of each customer, including but not limited to obtaining and cross-referencing valid government-issued identification documents, such as passports, national IDs, or driver's licenses;

Let's send personal documents to a company hiding in the Seychelles! What can go wrong....

Are you going to tag Godex_io, and create a Flag against them? A nice warning banner above their topic would look good!

No Registration ' No KYC ' No Limits
~
Godex does not require any personal data, no accounts or registrations.
~
Godex stands for the original idea of incognito in the cryptocurrency world.

Judging by your post and their own website, those are lies.

I'm not sure if you can use a type 3 Flag, I've posted this question in Trust flags.

[BitMaxz]

The fun fact is that they said they never collect personal data as one of their advantages according to them but if you scroll down to the bottom they have AML/KYC policy if you read it they have Customer Identification Program or "CIP" meaning KYC is required.

Pretty bad you fall to "We never collect your personal data and delete information about orders after two weeks." Which is attracting.

This is one of eXch's competitors, along with The Change Ltd, but only eXch provides a better service and trusted; however, they will be close soon.

Are you going to tag Godex_io, and create a Flag against them? A nice warning banner above their topic would look good!

This will be a better option until the issue resolved.

[NotATether]

I decided to use Godex.io, in order to do my job, since it was supposed to be KYC-free.

As a result, my coins are locked there and they require me to send them:
a) a picture of me holding my ID card.
b) a picture of me holding a piece of paper that has the phrase "Godex" written upon it and the current date.

The "fun" part is that they don't refund me my money without giving them my personal information.

What the fuck?

BRB, going to update BitMixList...

[mindrust]

Soon all of us will have to learn that there cannot be a dex that operates on a public web domain.

Even if the trading process was automated normally, the owner of the “dex” can interfere with it whenever he wants.

It is either bisq or nothing. If bisq isn’t enough, then code something better. Or else, we are doomed.

[apogio]

Let's send personal documents to a company hiding in the Seychelles! What can go wrong....

Are you going to tag Godex_io, and create a Flag against them? A nice warning banner above their topic would look good!

I was planning something bigger, but I will most likely leave a tag. I am a responsible user though, so I want to do some research first.

What the fuck?

BRB, going to update BitMixList...

Thanks for this, it's good to help people avoid having the same issue.

The fun fact is that they said they never collect personal data as one of their advantages according to them but if you scroll down to the bottom they have AML/KYC policy if you read it they have Customer Identification Program or "CIP" meaning KYC is required.

They do say it, indeed, but I am not even asking to use the service, I want a refund. Which is more "illegal"? Me not complying with their arbitrary KYC/AML policy, or them keeping my funds and not returning them? Some will say it's a great area, but for me it's disgusting behaviour on their part.


I lost a good amount of money there (approx. ~0.0125 BTC). For many people it's not too much, but I have a family and I am worried about it. (I don't depend on it, I just mean I have -like most people- lots of expenses to cover).

Again, sorry for grumbling, I am the one who is responsible about what happened. I 've been teaching and talking to people about privacy & trust and I was got caught in this trap. Anyway...

I really appreciate your words guys.

[bitmover]

I lost a good amount of money there (approx. ~0.0125 BTC). For many people it's not too much, but I have a family and I am worried about it. (I don't depend on it, I just mean I have -like most people- lots of expenses to cover).

Again, sorry for grumbling, I am the one who is responsible about what happened. I 've been teaching and talking to people about privacy & trust and I was got caught in this trap. Anyway...

I really appreciate your words guys.

Man, I can`t believe this money is gone.

They have a representative here (although inactive). We will all tag them, we will post about it in their ANN.
I don`t  believe they will enter this fight with the community because they want your picture.

This could have happened to me! I was considering using godex or some other.... (I already miss eXch so much!!)

I see you already put a tag on them, I will certainly add one and support any flag until this is solved.

[hugeblack]

I remember a similar case where I received a refund when I contacted the support team, but since they requested your information, I'm no longer recommending this service.

I hope you get your money back, but creating a flag is even more necessary than negative trust.

[bitbollo]

Thanks for sharing, and I am really sorry to read such bad issues.
There are many of fake-no-kyc exchanges and services. they have everywhere claims that they will not collect data and so on... unless you send coins there.
At this point, like an honeypot, they trying to ask as much as possible since they know very well that if an user need a service no-kyc has not yet planning to send even the size of underwear and so on.

There is a guy in the Italian section that has listed some of others fake no-kyc. Godex was the next test...
https://bitcointalk.org/index.php?topic=5534567.msg65234121#msg65234121

[joker_josue]

As a result, my coins are locked there and they require me to send them:
a) a picture of me holding my ID card.
b) a picture of me holding a piece of paper that has the phrase "Godex" written upon it and the current date.

The "fun" part is that they don't refund me my money without giving them my personal information.

It appears that they considered your transaction as a potential source of money laundering schemes.

@apogio what are you doing? Don't get involved in this life of crime.  


Unfortunately, since March 11, 2024, they have rules for requesting KYC:

2. CUSTOMER IDENTIFICATION PROGRAM
2.1. In accordance with regulatory requirements and our commitment to combating money laundering and other financial crimes, the Company has established a robust Customer Identification Program ("CIP"). The primary objective of this program is to ensure the accurate and timely identification of our customers, thereby mitigating the risk of illicit activities within our ecosystem.

2.2. The key components of our CIP are the following:
Customer Verification: the Company engages diligent measures to verify the identity of each customer, including but not limited to obtaining and cross-referencing valid government-issued identification documents, such as passports, national IDs, or driver's licenses;

In short, they have never been KYC-Free, and can always request this data from customers whenever they want.
Here is the link to the web file, as it may be useful in the future: https://web.archive.org/web/20250405210648/https://godex.io/aml-policy


---

EDIT:
@apogio a lot or a little money, it's money. It's always very sad when someone is deceived. It's not your fault. I think most of us here on the forum don't notice these details that are on their own website.

I hope you can get that BTC back. Maybe they will see these posts and at least have the conscience to return that amount, minimizing the damage already done.

[Trêvoid]

Godex.io advertises itself as a no-KYC, privacy-friendly swap platform, but in reality, since March 2024, they have an AML/KYC policy that allows them to request identity documents at their discretion, which can lock users’ funds unexpectedly.

This contradicts their public claims and, in my eyes, makes them suspicious.

[apogio]

I don`t  believe they will enter this fight with the community because they want your picture.

This could have happened to me! I was considering using godex or some other.... (I already miss eXch so much!!)

I see you already put a tag on them, I will certainly add one and support any flag until this is solved.

I truly appreciate it. I will create a flag soon. And yes, I miss eXch too...

I remember a similar case where I received a refund when I contacted the support team, but since they requested your information, I'm no longer recommending this service.

I hope you get your money back, but creating a flag is even more necessary than negative trust.

I will create a flag soon. Well I tried to get a refund, I have literally sent many emails to their support email, but after requesting my identification and I denied using arguments from their website's FAQ, they haven't even responded...

Thanks for sharing, and I am really sorry to read such bad issues.
There are many of fake-no-kyc exchanges and services. they have everywhere claims that they will not collect data and so on... unless you send coins there.
At this point, like an honeypot, they trying to ask as much as possible since they know very well that if an user need a service no-kyc has not yet planning to send even the size of underwear and so on.

There is a guy in the Italian section that has listed some of others fake no-kyc. Godex was the next test...
https://bitcointalk.org/index.php?topic=5534567.msg65234121#msg65234121

The problem arises when, like LoyceV said, these unregulated services (or regulated in the Seychelles ) try to do KYC arbitrarily based on AML algorithms that nobody knows what they truly do.

It appears that they considered your transaction as a potential source of money laundering schemes.

@apogio what are you doing? Don't get involved in this life of crime.  

Haha, busted! I am a criminal! I can't believe we 've reached this point where bitcoin can't be used freely because of chain analysis.

Unfortunately, since March 11, 2024, they have rules for requesting KYC:

2. CUSTOMER IDENTIFICATION PROGRAM
2.1. In accordance with regulatory requirements and our commitment to combating money laundering and other financial crimes, the Company has established a robust Customer Identification Program ("CIP"). The primary objective of this program is to ensure the accurate and timely identification of our customers, thereby mitigating the risk of illicit activities within our ecosystem.

2.2. The key components of our CIP are the following:
Customer Verification: the Company engages diligent measures to verify the identity of each customer, including but not limited to obtaining and cross-referencing valid government-issued identification documents, such as passports, national IDs, or driver's licenses;

In short, they have never been KYC-Free, and can always request this data from customers whenever they want.
Here is the link to the web file, as it may be useful in the future: https://web.archive.org/web/20250405210648/https://godex.io/aml-policy

---

EDIT:
@apogio a lot or a little money, it's money. It's always very sad when someone is deceived. It's not your fault. I think most of us here on the forum don't notice these details that are on their own website.

I hope you can get that BTC back. Maybe they will see these posts and at least have the conscience to return that amount, minimizing the damage already done.

There is no way on earth that I send my info to a shady company hiding in the Seychelles.
Since they have the authority to block my coins and keep them, I suppose going legally through a representative is a better option.
In fact, I am only thinking about the cost, but my heart tells me to try it...
As I said above, I am going to start with a flag here.


I suspect they get paid from some entity, in order to do the KYC stuff and give our data to this entity. They must have their backs covered, keeping the funds locked until people submit KYC.

It's not only Godex, I 've seen many complains for ChangeNow and Changelly as well, but I can't confirm them myself from personal experience.

I believe the future is shady and doomed, where most non-kyc services will either shut down (like exch) or will become full-kyc. If they do become full-kyc, my only suggestion and hope is that people will prefer to use other well established kyc exchanges than these unregulated, shady entities.

[ABCbits]

I decided to use Godex.io, in order to do my job, since it was supposed to be KYC-free.

As a result, my coins are locked there and they require me to send them:
a) a picture of me holding my ID card.
b) a picture of me holding a piece of paper that has the phrase "Godex" written upon it and the current date.

The "fun" part is that they don't refund me my money without giving them my personal information.

I truly appreciate it. I will create a flag soon. And yes, I miss eXch too...

I've scrolled this thread, but i didn't find screenshot of their demand and refusal. So IMO it would be great if you include screenshot and other relevant proof you're willing to share as part of the flag, since it would make more people support your flag and avoid this exchange.

[Darker45]

Godex.io advertises itself as a no-KYC, privacy-friendly swap platform, but in reality, since March 2024, they have an AML/KYC policy that allows them to request identity documents at their discretion, which can lock users’ funds unexpectedly.

This contradicts their public claims and, in my eyes, makes them suspicious.

Unfortunately, I suppose for many exchanges there's no contradiction at all. Godex isn't actually a special case. As a matter of fact, I used to ask an exchange here-- that also advertised itself as a KYC-free platform but actually includes AML/KYC in its terms and conditions-- if it's enough that they don't require KYC upon sign-up, even if they could ask for it anytime, to be calling themselves KYC-free. The representative said yes.

To me, and apparently to most of us, that's not what KYC-free means. But if you take a look at the exchanges promoted in this section, that's obviously what they mean by KYC-free or non-KYC. If you can swap or exchange funds without having to go through KYC even if a situation could arise anytime that you're asked to undergo it, it is a KYC-free or non-KYC platform. Nothing is contradictory. We're living in interesting times indeed.

[NotATether]

To me, and apparently to most of us, that's not what KYC-free means. But if you take a look at the exchanges promoted in this section, that's obviously what they mean by KYC-free or non-KYC. If you can swap or exchange funds without having to go through KYC even if a situation could arise anytime that you're asked to undergo it, it is a KYC-free or non-KYC platform. Nothing is contradictory. We're living in interesting times indeed.

The act of demanding documents before withdrawal is even worse than asking for it after sign-up in my opinion. Unreputable services that ask for your docs at the beginning might be trying to scam you.

[apogio]

I've scrolled this thread, but i didn't find screenshot of their demand and refusal.

Thank you for pointing that out. I tried to remove some data for privacy reasons, but since I already mentioned the amount I sent, I left this information uncovered.

Here is what I saw on their website and below is their answer on my email.

[apogio]

I have created a flag here: https://bitcointalk.org/index.php?action=trust;flag=3398

I would like everyone who wants, to express their opinion on the matter. I 've created a type-2 flag, based on Theymos's suggestion.

[LoyceV]

So they're saying 0.1255500 is not the same as 0.12555?

I've Supported your Flag and added my own tag:

This exchange lies in their topic and on their website. They write things like "we never collect your personal data", "trade freely, no strings attached", "No Registration ' No KYC ' No Limits", "does not require any personal data" and "stands for the original idea of incognito in the cryptocurrency world", but freeze funds and demand a selfie with ID while hiding behind their Policy that contracts all of the above. That's not being honest, that's selective scamming because they know nobody in their right mind would send their documents to an anonymous person hiding in the Seychelles.

[apogio]

So they're saying 0.1255500 is not the same as 0.12555?

I was so angry, that it was the least anger-causing statement from their part for me. But yeah, they actually said it. It's not edited or photoshopped   (0.012555 not 0.12555 thankfully)

I've Supported your Flag and added my own tag:

This exchange lies in their topic and on their website. They write things like "we never collect your personal data", "trade freely, no strings attached", "No Registration ' No KYC ' No Limits", "does not require any personal data" and "stands for the original idea of incognito in the cryptocurrency world", but freeze funds and demand a selfie with ID while hiding behind their Policy that contracts all of the above. That's not being honest, that's selective scamming because they know nobody in their right mind would send their documents to an anonymous person hiding in the Seychelles.

I appreciate it, thanks!