C2CX is a cryptocurrency exchange that was established in 2016 after an investment round by IT Group, a Chinese investment company. They claim to be registered in Luxembourg presumably due to the ICO ban of 2017, but also claim to be operating in China.
In this blog we will be looking at some of the social media and review pages they have created and the type of feedback they have been getting. The official C2CX Cheddur page is our first stop.
The profile has not been updated since creation and there does not seem to be any response from the profile admin to any of the many complaints about C2CX. We are seeing many claims of transaction delays, processing errors and tickets being closed without resolution.
With many claims of people losing money, being put into endless waiting by support and closing accounts with no reimbursement, this seems like an exit is being prepared. Lets look at one of the review sites.
Revain is a review service that allows people to easily score services through a Google Account. At a 1.3 out of 5 stars and 39 reviews, we seem to have established a trend.
Transaction delays, processing errors, lack of support. We see the same type of problems from customers here also.
We have an exchange that could possibly be preparing for an exit scam or an unfortunate ‘hack’ of the amount of money that is being withheld from users of this platform. KYC is not mandatory and there seems to be no Authority overseeing the exchange. We will continue to highlight different aspects of the operations of C2CX in future blogs and look for further signs of fraudulent activity.