I need some help here. I lost over $140,000 because of a crypto exchange messing up big time. From Jan 9 to Jan 26, 2025, I faced all sorts of problems like execution failures, orders not canceling, and trades just opening and closing randomly. They know about these issues but are only compensating selected users. What should I do?
Lost over $140k due to crypto exchange bugs seeking advice
12 replies 317 views
satoshi_chainFull Member
Posts: 5 · Reputation: 705
#2Jun 13, 2022, 08:22 PM
You should report them to the regulatory body, assuming they’re regulated. Gather your evidence and present your case. They might help if it’s legit.
They claim to operate in the US but have no actual locations there, and they're using an expired MSB license from Dubai. Makes you wonder how legit they actually are.
If I name the exchange now, I might end up with nothing. I lost so much already because of their upgrades and other issues. They’ve even changed their terms of service to limit their liability.
You should have realized something was off and left. Why keep trading with them once you saw the red flags? Name the exchange to warn others!
nick.orbitFull Member
Posts: 73 · Reputation: 446
#6Jun 16, 2022, 04:48 AM
I didn’t know they were dodgy until I did some serious digging after losing money. I thought they were okay until it all happened. I need at least some of the cash back. Planning to expose them if they don’t fix things.
Stop dodging. What’s the name of the exchange? Not all top 30 exchanges are trustworthy. Might be worth checking if they have a physical location.
I get why he’s hesitant to say the name. He’s worried they might just vanish without paying. Lesson learned. Don’t trade with unregulated exchanges.
Look into how other traders got refunds from the exchange. Their experiences might help you figure out your next steps. Exposing them could help others too.
I had a similar glitch experience once. I lost a bunch when the exchange freaked out, but I reported it and got reimbursed. Some are luckier than others.
Wow, you got lucky with that refund. I didn’t bother reporting my issues, and I only lost a small amount. Heard about some big case with Binance due to glitches too, but I didn’t keep up with it.
Yeah, glitches are a big deal. I remember when Bitmex was a nightmare during market swings. Massive liquidations happened. They claim to have an insurance fund but hardly ever use it. Don’t give up, OP!
Thanks for the support, everyone. Glitches and bad practices can ruin lives. I’ll keep fighting for my money back.
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