Ethtrader23423
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How I lost trust (and 1 million USD) in Changelly, be warned.

Fri Oct 13, 2017 3:34 pm

In short: I exchanged 11,711 Ethereum (worth $3,888,000 at the time of correspondence) for 7,265 BCH (worth $4,352,000 at the time of correspondence) with Changelly on the 30th of August (more detailed description below), which they failed to deliver. Which at the end of the line costed me €1.000.000,-
We have had contact with the staff from Changelly for a settlement; they have yet to respond properly.


First of all, I am an experienced and high volume day trader. I take risks where I see opportunities. These are my own risks, although the following loss is and will never be my risk/fault. Changelly states to give a cheap and secure way of trading. The story below will proof the opposite.

The first contact resulting in the loss of trust was on the 30th of August. I tried to exchange my (11,711) Ethereum Coins (ETH) for (7,265) Bitcoin Cash coins (BCH) as per the rate of Changelly. After Changelly received my 11,711 ETH, I received an email where Changelly cancelled the deal, without me receiving back my ETH. (First time they break an agreement)

As this is a huge amount of money I expected them to contact me. When this didn’t happen I decided to do this myself (all of this happened in 10 minutes after the deal was set up and Changelly received my ETH). They replied with me asking to confirm the first deal that they already cancelled and I replied instantly with a side-note if they could hurry up, as ETH was dropping in price and BCH was skyrocketing.

They once again cancelled the deal and offered me a new deal; 11711 ETH for 6217 BCH. This calculates to a loss of 1048 BCH in this second deal. Unacceptable. Sadly, it’s not over yet. (Second time they break an agreement)

I did not accept this deal and followed up with an email where I asked Changelly to return my 11,711 ETH, with immediate effect (sent at 14:07). This email got ignored. I followed up this email by sending the same mail again (sent at 18:45).

The next day (August 31th) they told me that they couldn’t refund the 11,711 ETH, as 54% (6,324 ETH) of the funds got exchanged on other exchanges. I once again replied that I insist on getting my ETH back. (Exchanged while not having any agreement)

The next day, 1st of September I received a reply.

Changelly 06:16: “The amount sent to us has been partially exchanged on one of our trading partners. Considering that, we can only complete the transaction. We are ready to fully compensate you the loss caused by technical issues and send the whole amount stated in the quotation.” (Offering compensation that never arrived)
Changelly 14:52: “Regardless of the technical error occurred, we are ready to send you full amount of 7265 BCH"
(Third time they break an agreement)

At this point I just wanted some value back in my control as they kept breaking promises and agreements so I accepted the BCH. I got an email where it stated that the 7,265 BCH got manually sent to my wallet address.

I did not receive any of the BCH until 70 hours later. Not only that, but I only received 1,200 BCH, what happened with the other 6,065 BCH? According to Changelly they were going to be sent in batches, and it would take another 24 hours.

24 hours later: Only received a total of 2,800 BCH. I emailed them.
130 hours after accepting the BCH (where I received just 1200 BCH for 11711 ETH) they cancelled the fourth deal (Fourth time they break an agreement) as well with the following E-mail:

Changelly canceled the second deal: “Based on quotation you were offered 7265 BCH. By now we have paid 2800 BCH (approx. 38,54%) and 4465 BCH to be paid. BCH funds are in a turnover and it takes quite a long time to accumulate for payout. Exchanges has recently released our ETH liquidity and we are ready to refund you all the amount in one go 7198 ETH (approx. 61,46%).”

Following by a payment of 7198 ETH, the matter was solved for them.

Conclusion:
Changelly held my 11,711 ETH (nearly worth 4 million dollar) for seven days and refunded me the ETH at the lowest price possible; the same goes for the BCH.

11711 ETH was worth €3.888.000 (September 1st)
7265 BCH was worth €4.352.000 (September 7th)

After an apology E-mail where no compensation was offered I managed to sell the coins I got back for €3.167.000, which concludes a loss anywhere from €721.000,- €1.185.000,- All of this because they kept breaking agreements and deals…

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GreyWyvern
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Fri Oct 13, 2017 5:47 pm

If this is true, it seems very underhanded. Exchanges like Changelly and ShapeShift should know what sizes of transaction they're capable of servicing and halt any inflows that exceed them. Sounds like Changelly just let its exchange scripts run on the incoming mountain of ETH just like any other deposit.
Estimate the return on a pool.bitcoin.com contract: http://www.greywyvern.com/code/javascri ... itcoincalc

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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Fri Oct 13, 2017 7:21 pm

if it true..this post should mark as important :-) so let everyone see

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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Fri Oct 13, 2017 9:09 pm

In short: I exchanged 11,711 Ethereum (worth $3,888,000 at the time of correspondence) for 7,265 BCH (worth $4,352,000 at the time of correspondence) with Changelly on the 30th of August (more detailed description below), which they failed to deliver. Which at the end of the line costed me €1.000.000,-

...

...

...

...


If everything you've stated is accurate then this probably needs to be widely disseminated.

I'd like to write more about it myself but first. Is there a way that we (or you) may substantiate the claims allegations which you've stated?

It's not that I don't believe you it's just that it 'd be irresponsible for me to publish accusations without evidence.
Image

Ethtrader23423
Posts: 3
Joined: Fri Oct 13, 2017 1:39 pm

Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Sat Oct 14, 2017 10:34 am

In short: I exchanged 11,711 Ethereum (worth $3,888,000 at the time of correspondence) for 7,265 BCH (worth $4,352,000 at the time of correspondence) with Changelly on the 30th of August (more detailed description below), which they failed to deliver. Which at the end of the line costed me €1.000.000,-

...

...

...

...


If everything you've stated is accurate then this probably needs to be widely disseminated.

I'd like to write more about it myself but first. Is there a way that we (or you) may substantiate the claims allegations which you've stated?

It's not that I don't believe you it's just that it 'd be irresponsible for me to publish accusations without evidence.


Hi, that's very kind of you.

Yes, everything I wrote is 100% truth. I have the transaction logs, original e-mails that can be verified etc.

BCH transactions:
https://blockchair.com/bitcoin-cash/add ... 7pPWyQXEce
ETH transactions:
https://etherscan.io/txs?a=0xf67f30d4e1 ... 226fc421a2

Thank you for helping me in this awful situation. I will give you everything you require to make this tragedy more known.

Best regards,

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HedgeFX
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Sat Oct 14, 2017 11:03 am

Hi Eth,

I sent you an email on bitcointalk (as P2Pfinder). Could you reply me there?

Thank you
In short: I exchanged 11,711 Ethereum (worth $3,888,000 at the time of correspondence) for 7,265 BCH (worth $4,352,000 at the time of correspondence) with Changelly on the 30th of August (more detailed description below), which they failed to deliver. Which at the end of the line costed me €1.000.000,-

...

...

...

...


If everything you've stated is accurate then this probably needs to be widely disseminated.

I'd like to write more about it myself but first. Is there a way that we (or you) may substantiate the claims allegations which you've stated?

It's not that I don't believe you it's just that it 'd be irresponsible for me to publish accusations without evidence.


Hi, that's very kind of you.

Yes, everything I wrote is 100% truth. I have the transaction logs, original e-mails that can be verified etc.

BCH transactions:
https://blockchair.com/bitcoin-cash/add ... 7pPWyQXEce
ETH transactions:
https://etherscan.io/txs?a=0xf67f30d4e1 ... 226fc421a2

Thank you for helping me in this awful situation. I will give you everything you require to make this tragedy more known.

Best regards,
Safe investment and high return with calculated risk. Want an average 10% weekly return? See tracking record here https://twitter.com/HedgeCryFx and contact me me hedgefx@tuta.io

Ethtrader23423
Posts: 3
Joined: Fri Oct 13, 2017 1:39 pm

Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Sat Oct 14, 2017 12:11 pm

Hi Eth,

I sent you an email on bitcointalk (as P2Pfinder). Could you reply me there?

Thank you

If everything you've stated is accurate then this probably needs to be widely disseminated.

I'd like to write more about it myself but first. Is there a way that we (or you) may substantiate the claims allegations which you've stated?

It's not that I don't believe you it's just that it 'd be irresponsible for me to publish accusations without evidence.
Hi, that's very kind of you.

Yes, everything I wrote is 100% truth. I have the transaction logs, original e-mails that can be verified etc.

BCH transactions:
https://blockchair.com/bitcoin-cash/add ... 7pPWyQXEce
ETH transactions:
https://etherscan.io/txs?a=0xf67f30d4e1 ... 226fc421a2

Thank you for helping me in this awful situation. I will give you everything you require to make this tragedy more known.

Best regards,
I did, thank you.

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HedgeFX
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Mon Oct 16, 2017 9:08 am

You inderstand what you are wrote????
Bitconnect? What is bitconnect? What is the business of bitconnect?

Bictonnect is a piramid, a ponzi scheme, that ask coin to people and paying insane interest to collect other coin for pay other interetst to new lender!

BEWARE OF BITCONNECT!!!!
Man thats harsh!!!

You should have put the money in BitConnect. You would have made more profit from their lending program or even from just holding the coin.
To sign up click here and use my referral to get instant 7% (code: jarzonek)

Cheers
Safe investment and high return with calculated risk. Want an average 10% weekly return? See tracking record here https://twitter.com/HedgeCryFx and contact me me hedgefx@tuta.io

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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Thu Oct 19, 2017 6:40 pm

i hope you get every cent you deserve sir :idea:

Josie80
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Sun Oct 29, 2017 7:14 pm

Changelly, given their reputation, will not want this promulgated. If you have full proof of correspondence and the transactions, you have been swindled and you are owed money which we can not only help you recover but ensure that exchanges are strongly deterred from such flagrant future misconduct. Let me know how you can be reached.

Nick Miles
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Tue Oct 30, 2018 6:02 pm

Hi dude!

I had a very negative experience with Changelly too. People complain they have a high service charge then they confiscate your funds. What good can Changelly be when their major goal is robbing people?

I have the same warning for the people. Stop exchanging your money with Changelly as it is similar to inviting trouble to yourself. Initially you will end up trusting this exchange company. Then one fine day you might realise that you are fighting with them to get your money returned to you. They will confiscate your funds and all this stuff is done very cunningly. Even I have created a page to expose all their malpractices. You should check this website for sure: http://www.changellyreview.com/

Tammyrab
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Tue Nov 27, 2018 6:20 am

Last month i lost over 8 BTC to a Bitcoin investment scheme hoping to make profit but this turned out to be a scam. I was so devastated by this situation and needed my BTC recovered, luckily for me a friend introduced me to a genius hacker who helped me recover all my Bitcoins somehow in just a day. If you need such help feel free to contact him via:
Email: BITCOINRETRIEVAL2018 GMAIL COM
SMS/Whatsapp: (470)250-0531

Thank me later

Ksarey
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Thu Nov 29, 2018 10:42 pm

Thank you for sharing your experience with this E-Currency company. Absolutely gutted about how they scammed you and have stolen your currency. This article is an example for others that whom they shouldn't deal with in this trading currency market. This also shows the risk being involved in E-Currency trading

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DavidDo03808449
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Tue Jan 15, 2019 3:52 pm

I was scammed of $12,500 by a fake broker ( coin bull), I paid Birman Law 10% of my principle loss with nothing to show for it, I think the algorithm of these programs are designed for us to lose money in some way. If you flushed your money down the toilet with a binary broker then just learn your lesson, it took me 9 months to figure out how to get my money back after made failed attempts; I contacted several lawyers but it was all waste of time and money, they couldn't render an inch of help. God so good to my old self and family, I later came across a post on Quora referring a recovery expert that helped me recover almost all my deposits within 15days from Coin bull, it was worth it, he was able to retrieve my funds. If you have found yourself in same situation as me you can contact –''wealthrecovery(AT) cyberservices (dtcom)" . He can guide through getting your money back. Be sure of where you invest everyone

RonaldSmith
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Wed Feb 06, 2019 3:28 pm

I also lost about $175,000 to a Greenfield Capital broker and 2 fake binary option website as well but I am sharing my experience here so as to enlighten and educate everyone that is losing money or has lost money to a scam binary options, dating scams and fake ICOs.
However , I have been able to recover all the money I lost to the scammers with the help of a recovery professional and I am pleased to inform you that there is hope for everyone that has lost money to scam.
you can reach out to them on bitcoinretrievalgenius gmail com or call/text (917)563-8226 if you are in the states.

Bitcoinx3
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Mon Feb 11, 2019 10:09 am

Better to avoid using Changelly after reading the story of the OP

Steven_nevetS
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Re: How I lost trust (and 1 million USD) in Changelly, be warned.

Thu Feb 14, 2019 10:24 am

$1mill loss, sheez I would find the owners of Changelly and .....

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