What can you do when the exchanges steal from the customer

[Abnur 310]

When the exchange is steal from the customer ,the way is trace the location and details their country violation laws and regulations so that they can able to take a extremely action against them with proves

[RoyalHouse01 9]

On 11/10/2020 at 2:51 PM, guatazoo said:

If the exchange still from the customers there will no need to complaints about it, because even if you'll complain, your money cannot get back and there is no way that you can found them, so you have to take it as a challenge in crypto. 

you are right there is no place where we can report and even if we do there is no way we can get it back from the scammers because they are really smart and hide their identities from the security departments.

[teebasas 3018]

Unfortunately, nothing can be done when the money is stolen and it cannot be recovered at all, so from the beginning you must choose reliable sites and work with them so that we do not lose any money on these untrusted platforms.

[David84 1191]

Actually this is very possible to happen especially that so many of us do not know the exact amount they have in their accounts , and I have heard of some hackers that steal millions out of crypto currencies and they get away with it because what they have done is goes unnoticed, they steal with very small amounts that no one really pays attention to.

[AdCoins135 37]

It depends because gold exchange can be hacked but the exchange can not steal from customers, exchanges that steal from customers are fake exchange and it can happen in a way that what is stolen is lost forever without recovery. 

[SayanCrypto 28]

I think if there is no real evidence of theft then you can't do anything, but if you have proof then you can go to court to sue the exchange if it is regulated in your country.

whichever the case, you can avoid this scenario by using only top exchange sites like Binance, Poloniex.. etc

[Dorjoy12 8962]

On 10/5/2019 at 6:23 AM, Cryptoxic said:

Is there any real action that can be taken against them? 
why are they allowed to continue to steal, lie, and cheat?
are they the REAL reason crypto  is being unanimously accepted? 

 

Do not forget the rules for creating topics (topics begin with a capital letter)
Moderator Desais👮‍♂️

As far as i know there has no option  to get your deposit  back if once the exchange  site do not give you or steal you..  That is why crypto  exeprt  people  always  say to us that use well reputed  exchange  site only where  has less chance  to lose your money unless the exchange  not get  hacked..

[Emanec 17]

Unfortunately in the Crypto world because so many countries cryptocurrencies are prohibited, there will no have a place to sue when the exchange steal from the customers, so that's we have to take it as the way of loss. 

[Ali Rao 161]

I will report them first and then change my password which is very important to do the process to aware of scammers like that.

[Froshk 1828]

Well basically it's a two sided scenario, because you cannot tell wether the exchange actually stole from you or someone that has your information might have hacked into it and do away with your funds, the best thing to do is to actually consult the customer care representative for further clarifications

[Alexbhatti 1492]

I don't think if there is any site in which we can report some fake sites. Because there are still many sites stealing the money. But it depends on us that how can we prevent ourselves to become the victim of their fraudulent. We should choose the legit sites for trading such as YoBit and Binance sites. We should also learn basic knowledge and skills of trading before invest because we mostly loss our money because of inexperience.

[zeshan1122 654]

There is nothing that we can do because we do not have the authority and even the people with the authority can not do anything we can only regret on  our decision of choosing that exchange.

[Nafees Khanzada 73]

I am using yobit exchange and i expect from yobit that no one can steal my assets from this exchange because yobit is safe and secured exchange. The security system of yobit is best. I like yobit too much. Thanks yobit.

[kamelq 22]

The best thing to be done is to keep small capital in the exchange site and move the rest to your wallet or distribute your money on the best exchange sites if you want to trade with everything you have.

During such websites is usually hard and not applicable. So it is better to avoid getting your money stolen in the first place.

[huesca123 946]

You always have to make sure where the exchange is located in the world, before opening an account. If its located in some 3rd world country, that has no exchange laws, that regulate exchanges, dont open an account with that exchange. Why do you think the scammers open an exchange in those countries to begin with ?¿?¿ Because they know that they cant be prosecuted because their crime isnt against the law.

 

Safe countries to open broker accounts, Forex accounts, trading accounts, etc. - Australia, UK & its Islands, Malta & USA ( really strict KYC ). You can always ask the Google Gods - Good quality brokers. A good web page is also - Forex Peace Army. Google it.

 

To answer your question that is the title of your Topic. Legally there is nothing you can do. What you can do is take the time & plaster all over the internet the scam brokers name, go to scam advisor sites & let them know, paste their whole web page addy where ever you can with bad comments, write on a note pad what happened to you & paste that on scam sites, etc. Let others know & warn them. Let the forum members here know also.

Edited February 5, 2021 by huesca123

[Zoiakhan 85]

 Dear it is best to look for a trusted exchange to avoid problems in the future. Before the agreement you must read the term then agree.

[Hala Hala 178]

I could not do anything even though I reported to the police station in my town, but without any benefit. Unfortunately, with all my regret, there must be a strong protection system to prevent such thefts from occurring in the disaster. There is no protection for the people who have been robbed. The concerned parties must put an end to that to prevent  Such thefts will continue in the future.

[selfmade 7]

If an exchange is centralized then there could be a way to sue the exchange company, otherwise there is no way, and all you can do us report that exchange as a scam scheme.

[Emma james 333]

It's really upsetting that there is no law that can stop them but for you you can do a couple of things to keep you safe like keeping your coins in wallets and using a trusted exchange. I suggest for anyone who gets fraud to report it and let the people know it's a scam. 

[Najimislam123 7]

I don't think there's any to take especially when exchange steal from you, the only possibly action one can, the basic solution to this is being proactive. If you encounter this loss, you shold report it immediately to get support,if not , can you report to the police force or prison of that country for assistance?

[Wael154 1134]

That's why we need t regulate this crypto currency because if that happens we can do any thing about any exchange because the majority work just in internet and dont have a referral code in his country. 

 

 

[MrSpasybo 1049]

I've never come across this, but if the exchange was a scam, you would lose all of your assets and it is almost impossible to get it back. The exchange's team will disappear with user assets - that's my experience with scam crypto exchanges in Vietnam.
In some cases, you can sue the exchange in court, but most governments do not have a legal framework for crypto, things will be very difficult.

[Alan Johns 258]

We should always choose a legit exchange site after proper research about to minimize the risks of loosing our crypto funds in such cases of hacking or stealing as otherwise we'll have no option and can do nothing.

[Megan Kyle 955]

Look there are lots of scammer and hacker available nowadays. They will give you proposal to earn double money. Dont fall onto thier tarp. If my exchanges steal from my customers I dont know what to do. For this you need to store your currency into a safe wallet. Dont share your personal information with others. Make strong password.