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Coinexx.org scam

An Australian-based couple has received a Whatsapp message informing them that Coinexx.org, the crypto managing company in which they invested in, was a scam.

Canberra residents Nick and Josie Yeomans were conned into investing AUD$43,000 ($30,000) into fake Bitcoin investments. The couple had been investing in Coinexx.org( not Coinexx.com), a company which promoted itself as a forex and crypto broker.

But after some time, the couple received a message which clearly stated “is a scam.” The site in question, Coinexx.org, is still up and running, and seems to be legit at first glance, displaying crypto news sites and price tickers.

“Everything and everyone involved are the same. Don’t bother about trying to get your money,” read the message. “Adam, myself Claudia even the customer service is scam [sic].”

 

Source: ABC news

Nick Yeomans first found out about Coinexx.org via a Facebook group and was at first skeptical. While he was expecting the whole thing to be a scam, he still went ahead and invested some money.

I put a small amount in to start with, just to see if it was legit. Sure enough, they paid what they said they would.

But Coinexx.org operated like a legitimate business for a long period of time to gain the trust and money of the Yeomans.

“In terms of energy, just putting so much into it. Having the energy to speak to you every day, let you know what’s going on, especially when nothing really is going on. It’s such an incredible amount of detail to go into.”

Their first investment was of AUD$1,400 ($984), with Coinexx.org giving them six months later an AUD$3,700 ($2,600) return.

“I was pretty impressed! So I put a little more in.

Once again, they paid what they promised.

Early this year, I put a LOT in and for a few months, they still paid me what I was promised.

I had no reason at all to believe that this was a scam. They had been in contact with me regularly, let me know what was happening with my account etc. They seemed just like and operated just like a legitimate business.”- read their Facebook post.

As they saw the money was coming, Mr Yeomans decided to leave his job, and he and his wife living off the incomes they made at Coinexx.org.

“When it has become your main source of income, and it’s been so reliable as well, you’re just trying to think of how you can solve this problem that you’re faced with, because you’re trying to provide for your family, you’re just trying to secure your income,”-said Mr Yeomans.

Then, around three weeks ago, Coinexx.org started introducing a new withdrawal fee so that the couple could access their funds. This was followed by a series of other made-up fees and “compliance issues” which kept delaying the withdraw of their funds.

The couple and another family member invested all their savings, quit their jobs, taken out loans, and sold possessions to cover the fees required by Coinexx.org to get the money they so desperately needed.

After sending an email explaining their situation and pleading for their money back, Coinexx.org sent them a WhatsApp message explaining it is a scam and terminated all contact.

There have been several attempts from ABC to contact the WhatsApp numbers that dealt with the Yeomans’ accounts, but they got no response. The numbers on the Coinexx.org website have also been contacted but they are all out of service.

It is yet unknown if there is an on-going police investigation regarding the scam.

Featured Image: Steemit

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