Resolved: Coinexx falsified transaction records, improperly collected swaps, and denied withdrawals.

Ryo.M

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【 Regarding Coinexx Malicious Denial of Withdrawals 】
Due to improper falsification of transaction records and improper swap collection, a withdrawal (US$35,450) due to profit cancellation was denied.
The breakdown is as follows
・19,498USD Profit reduction due to improper falsification of records
・13,883USD Improper swap collection
・2,069USD Insufficient funds received

102,374USD withdrawal requested on 12/8.
It was supposed to be processed within 48 hours, but was not.
The profit was subsequently reversed without notice due to falsified transaction records and improper swap recovery.
The remaining amount (69,011USD) was explained to have been paid on 12/22, but only 66,942USD was received.
The withdrawal was in USDT (ERC20) and Etherscan has confirmed that the shortfall occurred after the withdrawal.


Below is a description of each piece of evidence and the conflicting responses from email and support.


【 1. Falsification of trading records 】
As can be seen from the image, the unfavorable execution record has been falsified and the profit has been canceled.
I have received an e-mail stating that there was an unauthorized transaction, but of course I have no recollection of it.
In addition, when I contacted support, they stated that they do not interfere with customer trades. There is a discrepancy.

【 2. Unreasonable swap collection 】
There is a record of -138831USD listed as Swaps Adj as can be seen from the image.
Even though swaps were deducted from the position, the profit was cancelled due to unjustified additional collection.
In addition, we have confirmed with support that the correct swap short for USDJPY is -3.9. We only charge a transaction fee and a swap fee if the trade is opened overnight".
Again, there is a discrepancy here. Note that the swap point was changed to -35.19 after the unjustified collection. This is strange because -3.9 should be correct.

When you contact the support chat, they explain that they will respond within 12-24 hours.
However, there is no response by the deadline, and when I inquire again, the response is only that it is being handled. I assume they are busy due to fraud processing.
The answer that finally came was "Trading activity is being verified by LP as there appears to be some abuse of the trading platform.
Of course, this is a transaction I have no recollection of.
As you know, LPs are price and liquidity providers, and there is no way an LP would individually scrutinize transaction records. This is a malicious lie and an unfair explanation that confuses users with technical terms.

I inquire about the abusive transaction, but again it is explained to me that it is within 12-24 hours. Of course the promise is not kept. There is dishonesty in the response.
The response finally received is as follows
You were attempting to unfairly take advantage of both the swap and the missing price feed on our platform, which is unacceptable. Therefore, the transactions you made were completely fraudulent and dishonest.
As a result, the necessary modifications were made to your account in connection with the swap. As a result, your withdrawal request was denied on our part.
As a broker, we advise you to refrain from any unethical trading practices in the future. In this case, your account will be terminated."


【 Withdrawal denied 】
"There are no restrictions on trading strategies."
"We will not interfere with your trading."
"The correct swap short for USDJPY is -3.9. We only charge a transaction fee and a swap fee if the trade is opened overnight."
There is a contradiction in all of this.
Moreover, even though the swap is being falsified in relation to the swap, and by the way, the execution price is also being falsified improperly. They can do whatever they want.

It was then explained that the remaining amount (69,011USD) was withdrawn on 12/22. However, the amount received is 66942USD.
The withdrawal was made in USDT (ERC20) and Etherscan confirmed that the shortfall occurred after the withdrawal as shown in the URL and attached image.
We pursued this issue via email but did not receive a response. Please note that withdrawals of $28450, $23924.72, and $16637.28 were processed successfully on our end.
The total of these three withdrawals is the money you actually owned.
What was successfully processed? It is not the actual money, but the money that was improperly reduced.


What I am asking for is the proper withdrawal.
I point out that the withdrawal should be made promptly after correcting the improperly reversed profit.


However, if they do not comply with my request and continue to deny the withdrawal, I will file a complaint, which I have already reported to MetaQuote, and will continue to investigate the fraudulent damage caused by the denial.
Coinexx also expects to have its license suspended and the associated suspension of operations.

If the dishonesty continues, we believe that we should spread the damage report and take appropriate disciplinary action.
 

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Thanks to FPA for accepting the article and starting the thread.

I received another email today from coinxx with the attached image.
It reads, "Furthermore, the $33,000 balance is merely a swap adjustment due to unethical trading practices.

If there was a swap adjustment, it should only be a -$13,883 adjustment.
There is no need to tamper with the position to make it unfavorable.
On the other hand, we would question the basis for the $33,000 calculation, but it is already clear that it is an abnormal swap point.
Since this is an unplanned withdrawal denial, there is no uniformity in the reasons and the inconsistencies are glaring.


I requested that this email be answered in the FPA thread.
Since Mr. coinexx has been posting in the FPA thread for some time, I trust that he will respond.
If Mr. coinexx is correct in his assertion, there is no problem for a third party to see it.
However, if he cannot answer within the thread and a third party cannot see it, it is like a confession that he is hiding the problem.

I hope coinxx will respond in good faith.
We also hope that those viewing the thread will be witnesses to the discussion.
 

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【 Regarding Coinexx Malicious Denial of Withdrawals 】
Due to improper falsification of transaction records and improper swap collection, a withdrawal (US$35,450) due to profit cancellation was denied.
The breakdown is as follows
・19,498USD Profit reduction due to improper falsification of records
・13,883USD Improper swap collection
・2,069USD Insufficient funds received

102,374USD withdrawal requested on 12/8.
It was supposed to be processed within 48 hours, but was not.
The profit was subsequently reversed without notice due to falsified transaction records and improper swap recovery.
The remaining amount (69,011USD) was explained to have been paid on 12/22, but only 66,942USD was received.
The withdrawal was in USDT (ERC20) and Etherscan has confirmed that the shortfall occurred after the withdrawal.


Below is a description of each piece of evidence and the conflicting responses from email and support.


【 1. Falsification of trading records 】
As can be seen from the image, the unfavorable execution record has been falsified and the profit has been canceled.
I have received an e-mail stating that there was an unauthorized transaction, but of course I have no recollection of it.
In addition, when I contacted support, they stated that they do not interfere with customer trades. There is a discrepancy.

【 2. Unreasonable swap collection 】
There is a record of -138831USD listed as Swaps Adj as can be seen from the image.
Even though swaps were deducted from the position, the profit was cancelled due to unjustified additional collection.
In addition, we have confirmed with support that the correct swap short for USDJPY is -3.9. We only charge a transaction fee and a swap fee if the trade is opened overnight".
Again, there is a discrepancy here. Note that the swap point was changed to -35.19 after the unjustified collection. This is strange because -3.9 should be correct.

When you contact the support chat, they explain that they will respond within 12-24 hours.
However, there is no response by the deadline, and when I inquire again, the response is only that it is being handled. I assume they are busy due to fraud processing.
The answer that finally came was "Trading activity is being verified by LP as there appears to be some abuse of the trading platform.
Of course, this is a transaction I have no recollection of.
As you know, LPs are price and liquidity providers, and there is no way an LP would individually scrutinize transaction records. This is a malicious lie and an unfair explanation that confuses users with technical terms.

I inquire about the abusive transaction, but again it is explained to me that it is within 12-24 hours. Of course the promise is not kept. There is dishonesty in the response.
The response finally received is as follows
You were attempting to unfairly take advantage of both the swap and the missing price feed on our platform, which is unacceptable. Therefore, the transactions you made were completely fraudulent and dishonest.
As a result, the necessary modifications were made to your account in connection with the swap. As a result, your withdrawal request was denied on our part.
As a broker, we advise you to refrain from any unethical trading practices in the future. In this case, your account will be terminated."


【 Withdrawal denied 】
"There are no restrictions on trading strategies."
"We will not interfere with your trading."
"The correct swap short for USDJPY is -3.9. We only charge a transaction fee and a swap fee if the trade is opened overnight."
There is a contradiction in all of this.
Moreover, even though the swap is being falsified in relation to the swap, and by the way, the execution price is also being falsified improperly. They can do whatever they want.

It was then explained that the remaining amount (69,011USD) was withdrawn on 12/22. However, the amount received is 66942USD.
The withdrawal was made in USDT (ERC20) and Etherscan confirmed that the shortfall occurred after the withdrawal as shown in the URL and attached image.
We pursued this issue via email but did not receive a response. Please note that withdrawals of $28450, $23924.72, and $16637.28 were processed successfully on our end.
The total of these three withdrawals is the money you actually owned.
What was successfully processed? It is not the actual money, but the money that was improperly reduced.


What I am asking for is the proper withdrawal.
I point out that the withdrawal should be made promptly after correcting the improperly reversed profit.


However, if they do not comply with my request and continue to deny the withdrawal, I will file a complaint, which I have already reported to MetaQuote, and will continue to investigate the fraudulent damage caused by the denial.
Coinexx also expects to have its license suspended and the associated suspension of operations.

If the dishonesty continues, we believe that we should spread the damage report and take appropriate disciplinary action.
Are you talking about coinexx.com?
 
Thanks for writing.
You are correct. There is no doubt.

A few steps that you must follow to draw their attention to your issue,
Follow the suggested steps below:

If you deposited your money via credit card then contact the credit card customer care ASAP and ask them to file a chargeback.
Go to their website and invite them here via Live Chat
Invite them to join this thread via email (Send an email to every possible address).

You will find their email and address https://coinexx.com/contact

Also, share your story as a review https://www.forexpeacearmy.com/forex-reviews/14988/coinexx-forex-brokers

You can also share your story as a review on their social media to get their attention on your issue.

 
A few steps that you must follow to draw their attention to your issue,
Follow the suggested steps below:

If you deposited your money via credit card then contact the credit card customer care ASAP and ask them to file a chargeback.
Go to their website and invite them here via Live Chat
Invite them to join this thread via email (Send an email to every possible address).

You will find their email and address https://coinexx.com/contact

Also, share your story as a review https://www.forexpeacearmy.com/forex-reviews/14988/coinexx-forex-brokers

You can also share your story as a review on their social media to get their attention on your issue.

Thanks for the advice.
I would like to seek more advice if you don't mind.

(1) The deposit is in cryptocurrency (USDT).
We have identified a wallet that we believe is owned by Coinexx from an Ethereum transaction. It is possible that the money has been diverted through money laundering to make ill-gotten gains from fraud or other fraudulent activities. We plan to report the confirmed wallets to the authorities and the exchange. Our ultimate goal is to freeze the bank accounts that are depositing money to the exchanges.
Please let me know if there are any other effective measures that can be taken.

(2) Live chat is being handled by a support agent, and specific explanations seem to be impossible due to insufficient authority. (True or not)
As I wrote in the thread, I have requested by email that future correspondence be conducted in the FPA thread. (Attached image available)
I can confirm that Coinexx has been writing to the FPA thread for some time now, so it is not "impossible" to write to the FPA.
If the claim is correct, I don't have a problem with a third party seeing it.
However, if it is "not writable", it is like a confession that there is a problem that cannot be seen by a third party.

(3) As for the review, it has been submitted and is awaiting approval from the FPA.
I have already posted on X (Twitter), FB, WIKI FX and other social networking sites and review sites.
We need to update the content daily and will spread the article once the FPA review is posted.
We plan to spread the article via DM with a link to the article content to users who follow Coinexx.
We think it is best to warn users who are close to the scamming companies so that there will be no more victims.
Please let us know if there are other effective means.
 
【 Postscript 】
I received a response from coinxx via "email" as shown in the attached image.
Unfortunately, there was no post on the FPA thread.
It is unfortunate because I would have wanted a reply in the FPA thread if it was a legitimate claim.
The fact that it is not visible to a third party would be the same as an admission of malfeasance.
I am awaiting your response as to why you did not respond in the FPA thread.

The email contained the following text
”As has been mentioned several times, we had successfully processed your three most recent withdrawal requests, which were for $28450, $23924.72, and $16637.28.
We advise you to check for the money that has been received at 0x1d71aab877925e8cfe19f67e5a6d324ed6a32c3d in your wallet address”

As you can see in the attached image, only 66,942 USDT has been transferred from Etherscan.
https://etherscan.io/tx/0x820e7ef0f8e65b7ab616dfc3cca57a41deebd1f4948d6766e9ebca13adbf04d7
The total for the three cases ($28450, $23924.72, $16637.28) is $69,012.
Where did the difference disappear?
If coinxx states that they transferred the money correctly, they should be able to show evidence in a transaction like Etherscan's.
But at this point, no neutral evidence is presented, only a unilateral statement of completion.
No evidence can be shown, which would also be like a confession of fraud.
If the money was transferred correctly, there should be no difficulty. We too instructed them to show neutral evidence, not MT or website withdrawal request records, which may be falsified. We are awaiting a response.

Incidentally, as you can see in the image, we will make up $760 in the name of Shortfall reversed due to the same irregularity in the past.
Last time, after a barren exchange, the matter was resolved in the form of a compensation to MT4.
In other words, they have a criminal record and are trying to commit fraud again with the same tactics.
Some of you may have suffered the same damage.
There is no sign of remorse, and it can be said to be very malicious.


It then states that approximately $33,000 was adjusted in the swap account.
The formula says Swap correction-13883.
While the $33,000 is said to be $33,000, the swap account is $13883.
Looking at the profit and loss portion, improper falsification of the execution record is applied as a matter of course.
However, the adjustment only mentions the swap.
I do not see any consistency in the answers. Due to the sloppy fraud, it appears that they have not been able to provide a rationale for the breakdown.
The more they explain, the more they dig their graves, which is a symptom of a common liar.

The lack of mention suggests that the profit decrease due to falsification of contract records may have been an error.
We have instructed them to pay $21649 of the $35532 deficiency first. We are awaiting a response.


At the end of the email, it states.
”Since it is forbidden to use the trading platform unfairly or to take advantage of it in any manner, the aforementioned modification was applied to your account.
Furthermore, swap arbitrage is not a genuine trading strategy and we advise to not do this again.”

You are missing the point. We are not currently seeking a true statement of trading strategy.
Nor are we pointing out any specifics about improper use of the trading platform.
What is inappropriate use of the platform in the first place? Of course we don't know, but we also don't know what kind of behavior it is.
We have received testimonials from chat agents regarding their use of COINEXX that there are no restrictions on transactions and that they do not interfere with their clients' transaction records.
We use COINEXX with the assurance that there are no restrictions. If there were specific restrictions, we would naturally avoid them.
Rather, which is unfair, bringing up fraud and prohibitions after the fact?

Those of you who have read this thread.
Can you understand how malicious it is?
All we want is a proper profit withdrawal. If there are users around you, please let them know so that there will be no new victims.
 

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Thanks for the advice.
I would like to seek more advice if you don't mind.

(1) The deposit is in cryptocurrency (USDT).
We have identified a wallet that we believe is owned by Coinexx from an Ethereum transaction. It is possible that the money has been diverted through money laundering to make ill-gotten gains from fraud or other fraudulent activities. We plan to report the confirmed wallets to the authorities and the exchange. Our ultimate goal is to freeze the bank accounts that are depositing money to the exchanges.
Please let me know if there are any other effective measures that can be taken.

(2) Live chat is being handled by a support agent, and specific explanations seem to be impossible due to insufficient authority. (True or not)
As I wrote in the thread, I have requested by email that future correspondence be conducted in the FPA thread. (Attached image available)
I can confirm that Coinexx has been writing to the FPA thread for some time now, so it is not "impossible" to write to the FPA.
If the claim is correct, I don't have a problem with a third party seeing it.
However, if it is "not writable", it is like a confession that there is a problem that cannot be seen by a third party.

(3) As for the review, it has been submitted and is awaiting approval from the FPA.
I have already posted on X (Twitter), FB, WIKI FX and other social networking sites and review sites.
We need to update the content daily and will spread the article once the FPA review is posted.
We plan to spread the article via DM with a link to the article content to users who follow Coinexx.
We think it is best to warn users who are close to the scamming companies so that there will be no more victims.
Please let us know if there are other effective means.
Answers to your questions

1. Unfortunately, Crypto chargebacks are not possible but you can go ahead and report about it and see what requirements are there to prove your points.

2. We had an active representative here Coinexx Support, He/she was last seen Jun 21, 2023.

3. Even though most FPA employees are on leave, I can see your review here: https://www.forexpeacearmy.com/forex-reviews/14988/coinexx-forex-brokers. Thanks to @AsstModerator, he also works during holidays.
 
Answers to your questions

1. Unfortunately, Crypto chargebacks are not possible but you can go ahead and report about it and see what requirements are there to prove your points.

2. We had an active representative here Coinexx Support, He/she was last seen Jun 21, 2023.

3. Even though most FPA employees are on leave, I can see your review here: https://www.forexpeacearmy.com/forex-reviews/14988/coinexx-forex-brokers. Thanks to @AsstModerator, he also works during holidays.
Thank you for your advice.

1. deposits and withdrawals are made on the ERC20 network.
Their movements can be tracked on the Ethereum network blockchain explorer and can be presented as evidence.
Since COINEXX's claimed history of transfers cannot be verified on the Ethereum network, it is clear that their claims are false.

2. as you say, COINEXX has been known to post on the FPA thread for some time.
Since the posts are recent, there is no way they are "unable" to post on the FPA thread.
If COINEXX is correct, then there should be no problem discussing it here.
However, if they do not respond to the invitation and cannot discuss it, then there must be some inconvenient reason.
If COINEXX is not a fraud, then he should be able to state his correct arguments here with impunity.
If he does not accept my invitation despite my calling him a fraud, he is confessing that he is a fraud.


3. thank you for your diligence as an FPA member.
The success of my claim in the neutral FPA is in itself encouraging.
I would now like to take this opportunity to wish you well in resolving the situation.
 
【 Postscript 】
It has been over 24 hours since my last inquiry.
For some reason I have not received a response since I invited you to the FPA thread.
If the claim is legitimate, it should not matter who sees it.
Or is it "a scam and therefore cannot appear in the FPA thread"?

I have sent an e-mail to the chat agent, but there has been no response.
However, I am reporting a new discrepancy I discovered from the chat agent.

The chat agent inquires "Is hedging with other traders possible?" and the answer is "Yes, it is allowed" as shown in the image.
Then, when I ask about swap arbitrage, I get a curt response, "I have shared the details with you as per my knowledge.
When I ask what COINEXX position is, the answer is "Yes, swap arbitrage is prohibited.

I see a new inconsistency here.
When we previously contacted support, we received the answer that there is no restriction on trading.
However, in the December 28th response, the answer changes to "Swap arbitrage is prohibited.
I mean, hedging is possible, but prohibiting wap arbitrage seems contradictory.

When I ask, "Are there any rules posted on the website that we can check?" the answer is that there are none posted on the website.
This is a little confusing, so I will summarize it below.

1. COINEXX prohibits swap arbitrage.
2. but the terms of service do not exist and cannot be confirmed. The chat agent answers that there are no trading restrictions.
3. in other words, the user has no way to confirm the prohibition from the chat agent, and there is no way for the user to confirm the prohibition because the terms of service do not exist.
4. as a result, it turns out to be an unjustified retrofit by COINEXX, Inc.

Is this the above process?

This event could have been prevented if the website or chat agent had explained the prohibited terms.


However, if there is no way to verify, it is clear that it is an event that could not have been prevented and is COINEXX fault.

n response to this pursuit, the support agent said, "Thank you for your valuable feedback. We will definitely share it with our team".
This can be taken as a statement that COINEXX admits fault.

If we disclose it in the future, the same problem will be eliminated for the future.
However, this cannot be a reason to improperly revoke profits at this time.
Therefore, we requested correction of the unjustified revocation of profits and appropriate withdrawal of funds.

The result of our response is as follows
"You received an email with the profit calculation, the withdrawal sent, the transaction hash, and an explanation of the case."

Can you understand that a few hours of communication makes no sense at all?
You are completely ignoring this conversation, and are acting as if you are saying that the email you received the day before has resolved the issue.
It seems that they are only trying to perpetuate the injustice.

I have one last question.


I have stated many times that I am good at late night day trading, taking advantage of the anomaly that USDJPY will fall after the rollback.
I have pointed to swap arbitrage, do you have any evidence that I have engaged in arbitrage?
If so, we would like you to present it. We have presented a lot of evidence here.
You did not cancel my interest based on speculation or conjecture, did you?

It has been over 24 hours since your last inquiry.
For some reason I have not received a response since I invited you to the FPA thread.
If it is a legitimate claim, it should not matter who sees it.
Or is it "a scam and therefore cannot appear in the FPA thread"?

COINEXX has explained its position, but it is clear that the problem has not been resolved.
 

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