Lizex.io SCAM! $18K

[mabji1]

created a flag.

https://bitcointalk.org/index.php?action=trust;flag=3592


What happened is that Lizex.io scammed my friend out of $18,000. Their liquidity partner was KuCoin and told me that my friend coins had a high AML risk rating and had been frozen by KuCoin.



During my research,  $18,000 USDC is currently held in a wallet. In Lizex.io’s live chat, they stated that the funds were being held by their liquidity partner. I later contacted KuCoin and asked whether the wallet belonged to them. KuCoin confirmed that this wallet was not associated with them.





Based on KuCoin’s response, Lizex.io’s claims about the wallet false. Lizex.io is withholding my friend funds and misleading us about their status.





To be honest, the funds are in their possession, not with the liquidity partner. They are holding the funds while representing that they are held by the liquidity partner. They are also requesting impossible-to-provide KYC documents.

During my research, I also found scam reports about this exchange on Monerica.

The funds were never sent to or held by KuCoin. Instead, Lizex.io’s trigger system placed the funds on hold while blaming its liquidity partner - Lizex.io SCAM!



Since Lizex doesn’t even have a registered company and operates anonymously, there’s no reason for it to try to be compliant. Not to mention, asking us and other customers for KYC information while not being a registered entity is unlawful.

[_act_]

How did you know about the swap exchange? This is the first time that I know about the swap exchange. There are many scam swap exchange. It is better you are careful and only use the legit ones. There are many of the exchanges on this forum that you can use instead of using the one that people or any community do not know about.

Eidt: the swap exchange has announcement thread on this forum and has review campaign before on this forum.

How did you know about the swap exchange? This is the first time that I know about the swap exchange.

They have ann thread here as well as made a review campaign before.

[RGBTC]

What happened is that Lizex.io scammed my friend out of $18,000. Their liquidity partner was KuCoin and told me that my friend coins had a high AML risk rating and had been frozen by KuCoin.

What led your friend to conclude that the funds were being held by KuCoin, did he track the deposit address? I ask because I don't see that CEX listed as a liquidity partner on the Lizex page.

In any case, they do have a representative here if you wish to contact them. https://bitcointalk.org/index.php?topic=5560783.0

[mabji1]

How did you know about the swap exchange? This is the first time that I know about the swap exchange. There are many scam swap exchange. It is better you are careful and only use the legit ones. There are many of the exchanges on this forum that you can use instead of using the one that people or any community do not know about.

It wasn’t me; my friend was using it. He completed a couple of successful swaps, but this happened when he increased the amount. These aren’t my funds.

What happened is that Lizex.io scammed my friend out of $18,000. Their liquidity partner was KuCoin and told me that my friend coins had a high AML risk rating and had been frozen by KuCoin.

What led your friend to conclude that the funds were being held by KuCoin, did he track the deposit address? I ask because I don't see that CEX listed as a liquidity partner on the Lizex page.

In any case, they do have a representative here if you wish to contact them. https://bitcointalk.org/index.php?topic=5560783.0

Their liquidity partner is KuCoin. If you swap with them and track the transaction on the blockchain, you can verify it. You can also ask them directly; they will reply. I also included their Telegram chat with Lizex support didn’t you see it?

[Shishir99]

Your friend should have chosen a privacy exchange instead that has no KYC. There are several instant swaps, and your friend could have used them. This type of shotgun KYC is the reason there are many no kyc directory exist now. Your friend could have used bitlist.co or similar services to check if the exchange actually asks for KYC, and what they do in case of a high AML score.

These AML scores are actually bullshit. This is one of the ways to scam people. I don't remember seeing this exchange name anywhere in this forum. Even if I have seen it, I don't remember that. I don't understand why people don't do their research before they do a transaction online.

[PX-Z]

I later contacted KuCoin and asked whether the wallet belonged to them. KuCoin confirmed that this wallet was not associated with them.

Perhaps you or your friend asked the wrong person/ live support, why would kucoin hold the funds when your friend sent them to lizex wallet address, of course, kucoin will say it's not them unless lizex sent it to them as required on their process. Are they asking your friend for kyc info? id? selfie? or other docs?

You can also message their representative here, they are quite active here, try to pm the userLizex.io

How did you know about the swap exchange? This is the first time that I know about the swap exchange.

They have ann thread here as well as made a review campaign before.

[UserU]

I don't remember seeing this exchange name anywhere in this forum. Even if I have seen it, I don't remember that. I don't understand why people don't do their research before they do a transaction online.

They had a review campaign in November 2025, managed by Royse.

[LOCK] Lizex.io Review Campaign | Your Opinion Matters | Reward Up To $60

[Woodie]

Photos alone aren't enough here , because impersonation is a big threat in the crypto industry!

Could you share some links just to make sure you are talking about the Lizex we know on the forum.

And how do these two kucoin and Lizex come in the same conversation? Does Lizex give users the option of choosing liquidity provider?

[julerz12]

Basically, Lizex says they don't have the funds; it's on KuCoin, and that exchange says they don't have it either. 
Could you maybe share the transaction ID? Some users here may be able to track it.

You can also message their representative here, they are quite active here, try to pm the user Lizex.io

Their account hasn't logged in since Sept. 6. But maybe this accusation will bring them back here (if they care about their forum rep).

They had a review campaign in November 2025, managed by Royse

And an almost $5k escrow, which was later returned.

[Coyster]

How could your friend send $18,000 all at once into a swap exchange, or into any custodial exchange for that matter. It has always been safer to divide your deposit into smaller chunks, so if you run into a situation like this, you don't lose all of your money.

That said, i have never even really understood the idea of using a swap service that has zero liquidity and depends 100% on third party liquidity providers, it is much better to go directly to their LP and make the transaction. The whole situation with your friend's funds is sketchy and that's not a good sign for them to get their money back.

[un_rank]

It wasn’t me; my friend was using it. He completed a couple of successful swaps, but this happened when he increased the amount. These aren’t my funds.

That is eye brown raising. Not certain this is the case here but scammers usually act in that way, baiting their victim with successful trades until they throw in more money and the websites issue starts which they request more money to fix.

As mentioned, try to reach out to their official representative here to get a follow up. This could be a mix up from the support staff your friend is in communication with. With the amount in contention, this case should have been prioritized and escalated.

- Jay -

[Karl_3000]

How could your friend send $18,000 all at once into a swap exchange, or into any custodial exchange for that matter. It has always been safer to divide your deposit into smaller chunks, so if you run into a situation like this, you don't lose all of your money.

Do not just make an assumption because you do not know if his friend want to swap $100000 or higher amount of money than that but starting with $18000. But I also think his friend is careless if that is all the money he wanted to trade. I do not know how some people have the boldness to trade on services that people do not really know. A site with just a review on this forum does not mean the site is legit.

[Trêvoid]

Sorry for your friend loss, OP. I know about the previous scam case involving Lizex, and it’s understandable. They scammed someone on SimpleX Chat and also selectively froze customer funds. The person who runs this website is a scammer, so avoid Lizex at all costs. I’ll also share this case in my directory. I’m sorry that your friend used a scam site run by a scammer.

[UserU]

And an almost $5k escrow, which was later returned.

When they need to build trust, anything can be promised. Like the Betmoco casino review; paid reviewers but normal players get screwed afterwards.

[logfiles]

The service had quite a number of red flags that members raised right from the time they create an announcement in this forum. At one point they admitted that whitebit was one of their liquidity providers

Withdrawing the escrowed funds was the last nail on the coffin and you or your friend should have read through the reviews before using them. OP, please create a type 2 or type 3 trust flag. We shall support it.

[Coyster]

Do not just make an assumption because you do not know if his friend want to swap $100000 or higher amount of money than that but starting with $18000.

That's a fair point, but even if i wanted to swap around $100k worth of coins, i would not send $18k in one go, and definitely not into an exchange that has not established a solid reputation in the crypto community.

I understand that making the transactions in smaller chunks would cost the user more in fees, but i consider it to be a compromise that is worth it. It is even better to find exchanges that have security deposits held by trusted third parties, so if something goes wrong, you'd get some or all of your money back.

[FinneysTrueVision]

At that size you should have considered using THORchain instead. USDC and BTC aren’t like XMR where there isn’t liquidity on DEXs. I can’t think of any reason why somebody would choose a centralized instant exchange with third party liquidity and risk having their coins stolen or frozen temporarily.

[mabji1]

At that size you should have considered using THORchain instead. USDC and BTC aren’t like XMR where there isn’t liquidity on DEXs. I can’t think of any reason why somebody would choose a centralized instant exchange with third party liquidity and risk having their coins stolen or frozen temporarily.

I was waiting for my friend reply, and I will respond by forwarding his messages.

I have used small amounts on Lizex many times, and all my other swaps went through until this one was frozen. At first, they told me that the funds were in a KuCoin wallet. I contacted KuCoin and explained everything to them, but they said the funds were not in their possession and that the wallet did not belong to them.

Lizex lied to me from the beginning. Now they have sent me an extensive KYC form with more than +15 requirements, including bank statements, family members names, employment information, proof of address, and a passport or ID with a photo, among many other things. No one should be expected to provide all that information.

I told them that because they had lied to me from the beginning, I would not complete their scam related form.

Lizex is a scammer.

The service had quite a number of red flags that members raised right from the time they create an announcement in this forum. At one point they admitted that whitebit was one of their liquidity providers

Withdrawing the escrowed funds was the last nail on the coffin and you or your friend should have read through the reviews before using them. OP, please create a type 2 or type 3 trust flag. We shall support it.

created a flag.

https://bitcointalk.org/index.php?action=trust;flag=3592

It wasn’t me; my friend was using it. He completed a couple of successful swaps, but this happened when he increased the amount. These aren’t my funds.

That is eye brown raising. Not certain this is the case here but scammers usually act in that way, baiting their victim with successful trades until they throw in more money and the websites issue starts which they request more money to fix.

As mentioned, try to reach out to their official representative here to get a follow up. This could be a mix up from the support staff your friend is in communication with. With the amount in contention, this case should have been prioritized and escalated.

- Jay -

My friend is already in contact with Lizex support. At first, they claimed that the funds were in a KuCoin wallet. However, they changed their story after we confirmed with the KuCoin team that the funds were actually in their possession, not in a KuCoin wallet.

There is also no official registration information for the Lizex. Does anyone know where it is located? They are requesting KYC, yet their own service is anonymous. We believe it may be operated by a single person.

According to this, they use an intermediary wallet to receive the transaction before sending it to their partners.

https://bitcointalk.org/index.php?topic=5560783.msg65866664#msg65866664

If a user refuses to provide requested information during an AML/KYC review, Lizex.io may suspend or cancel the transaction. In most cases, funds will be returned to the original sending address, except where prevented by legal, technical, or compliance restrictions.

Since you will be responding to official authorities^[1], can you provide your registration details?
[1]

Any personal or transactional data collected during AML/KYC procedures will be processed securely and disclosed only when required by law or risk management obligations

https://bitcointalk.org/index.php?topic=5560783.msg65867225#msg65867225
Lizex.io user

We use an intermediary address to verify deposits and to ensure a secure exchange process for the user.
We only request KYC if funds are frozen by our liquidity provider (such as an exchange). However, our processes are designed to minimize the likelihood of such situations to near zero. In practice, we do not request users’ personal data.

[Lizex.io]

created a flag.

https://bitcointalk.org/index.php?action=trust;flag=3592


What happened is that Lizex.io scammed my friend out of $18,000. Their liquidity partner was KuCoin and told me that my friend coins had a high AML risk rating and had been frozen by KuCoin.



During my research,  $18,000 USDC is currently held in a wallet. In Lizex.io’s live chat, they stated that the funds were being held by their liquidity partner. I later contacted KuCoin and asked whether the wallet belonged to them. KuCoin confirmed that this wallet was not associated with them.





Based on KuCoin’s response, Lizex.io’s claims about the wallet false. Lizex.io is withholding my friend funds and misleading us about their status.





To be honest, the funds are in their possession, not with the liquidity partner. They are holding the funds while representing that they are held by the liquidity partner. They are also requesting impossible-to-provide KYC documents.

During my research, I also found scam reports about this exchange on Monerica.

The funds were never sent to or held by KuCoin. Instead, Lizex.io’s trigger system placed the funds on hold while blaming its liquidity partner - Lizex.io SCAM!

Hello everyone,

Based on our review, the funds involved in this transaction were identified as high-risk funds showing indicators of being connected to fraudulent activity. This is precisely why the relevant AML/KYC procedures were initiated.

Apparently, this may also explain why the user chose to hide the exchange ID and transaction details, preventing forum participants from objectively reviewing the situation.

We strongly oppose fraud and false accusations. Before accusing us of fraud, it is worth looking at the origin of your friend’s funds as well. Furthermore, your friend refused to complete the requested AML/KYC procedure, which was initiated specifically because of the risk identified in relation to the funds.

We are ready to provide supporting information and explain the reasons behind our actions.

[Shishir99]

Hello everyone,

Based on our review, the funds involved in this transaction were identified as high-risk funds showing indicators of being connected to fraudulent activity. This is precisely why the relevant AML/KYC procedures were initiated.

Apparently, this may also explain why the user chose to hide the exchange ID and transaction details, preventing forum participants from objectively reviewing the situation.

We strongly oppose fraud and false accusations. Before accusing us of fraud, it is worth looking at the origin of your friend’s funds as well. Furthermore, your friend refused to complete the requested AML/KYC procedure, which was initiated specifically because of the risk identified in relation to the funds.

We are ready to provide supporting information and explain the reasons behind our actions.

Could you please confirm if the funds are held by Lizex or KuCoin? His transaction ID and details have nothing to do here. I would probably hide it as well if I want privacy.
People use swap / Instant exchanges for a reason. Most people care about identity theft and do not feel comfortable sharing their personal documents. If your exchange is a platform that requires KYC, why not send the funds back to the address where it came from, just like other swaps do?

These high risk excuse is nothing but a way to scam the customers. I don't know if his funds are really involved in a scam or hacks, but you are not doing anything better. What is the fate of this fund if it is confiscated? What are you going to do with this fund? Send it to the government? I am sure you won't.