The danger of trusting Crypto exchanges | ACX.IO

Australian crypto exchanges acx.io owned by BLOCKCHAIN GLOBAL LIMITE has frozen funds of its customers claiming an audit process.
Have you lost your assets due to ACX.IO exchange ?
Join us to bring the scammers to justice!

New updates : On 5th Feb. 2020 ACX changed their terms and conditions. Initially it was the Blockchian Global (BCG) now they have updated it to Peak Trading Group.

ACX Terms & Condition Update

In the last two decades, the Internet and smartphone revolution has changed our lives to a point of no-return. Many of us embraced the anti-banking and pro-cryptocurrency mindset by investing our hard-earned money in crypto assets.

For me, the main reason I invested my savings in crypto assets is to plan early retirement. Like many other Australians, I start my research by looking for Australian registered businesses and communities who are willing to help newcomers to the blockchain investments. I found a meetup group organized by the Global Blockchain. Based on their website and what they preach they have a worldwide presence and they help new blockchain-based ideas by incubating them and newcomers by introducing them to blockchain-based services.

My story (How I got scammed)

After attending a few meetups, I met the co-founder Sam Lee (Australian born mid 30’s man with east Asian descend) and the chief operating officer, Allan Guo. They preached of a new crypto exchange called acx.io backed by the Blockchain global and how confident they are about its operations.

The founder Sam Lee and Chief Operations Officer Allan Guo.

I’m ashamed to say I was one of many people who signup for the acx.io after their marketing campaign and lost over 50K AUD at the moment.

The money I poured to acx.io on numerous occasions was used to buy and sell bitcoins and other assets. For over 2 years I was a happy customer and trusted their platform to store my assets. Suddenly, on the 10th of January, the acx.io website has posted a message about an audit and we are unable to withdraw any of our assets nor we were able to get in touch with their customer support.

ACX Message that appears when trying to perform withdrawals.
Who is affected?

Numerous people have rais their concerns on social media platforms like Facebook and Reddit. I don’t know exact figures but based on the source [3] over one Million funds are lost.

Have you made any deposits to acx.io ?
Please make a complaint to ASCI! (Australian Securities and Investments Commission)
It is not the amount you lost rather scammers like Sam Lee and Blockchain Global should not be allowed to simply walk away with our hard-earned money.
What is happening now?

The affected parties including myself tried to get in touch with Blochckn Center in various ways. Some personally visited the locations they have put up on the websites and business registration documents. All of our attempts were unsuccessful. It seems the ACX development team have vacated the office locations or the address points to a non-existing location.

Some people with contact details have tired to contact Sam Lee. It seem he is trying his best to avoid responsibilities saying Blockcian Global is only a shareholder and they have no operational access and visibility on the exchange acx.io.

Reply from Sam Lee.
What we can do next?

We are not giving up! you shouldn’t too. As a tax-paying Australian residents we should have our assets recovered and scammer like Sam Lee and Global Blockchain Center should pay for their misconducts. If you have a single dollar invested in acx.io and caught up with these issues please come forward and join us to take legal action against these scammers.

Lessons learned..

Simply put, don’t trust third parties on your digital assets. (No matter how big their presence in the market like Binance, Localbitcoins, etc) In case you are a day trader or a regular investor, keep only the amount you are trading in the exchange and transfer your assets to a cold wallet and store it securely.

If you don’t have your private keys you don’t have your assets.

Make a complain to ASCI!
  • Use the REPORT MISCONDUCT NOW button to begin.
  1. Area of Report : Shares and markets
  2. Market Report : An online trading platform
  3. Report : I was unable to trade as I had intended

IMPORTANT : Making sure you mention the owners of ACX.io and their companies when you are making the complain. Below are the details:

Prior to 4/2/20

Samuel Xue Lee (Sam Lee), CEO of Blockchain Global Limited ABN 82601628497. Samuel is the Founder of Blockchain Global which promotes ACX.io and advertise this on LinkedIn and other sources.

Address: Samuel Xue Lee, Unit 24, 573 Glen Huntly Road, Elsternwick VIC 3185.

Contact details: 0433844199

After 4/2/20

Allan (Liang) Guo, Sole Director of Peak Trading Group Pty Ltd ACN 627704090 and CIO of Blockchain Global Limited ACN 601628497.

Addres: Allan Guo, 6 Bribie Way, Point Cook VIC 30300

Contact details: 0433348106

  • Add as much information you have when you are making the complain. (There website acx.io is still up and download all the transactions, related details)
Resources
  1. Facebook Group : https://www.facebook.com/groups/428598871197856/?fref=nf
  2. Reddit Thread : https://www.reddit.com/r/BitcoinAUS/comments/eouuxg/acxio_warning/
  3. News Article : https://micky.com.au/aussie-exchange-freezes-1m-of-user-funds-in-mystery-audit/
  4. Blockchain Global : https://blockchainglobal.com/
  5. Office Locations : https://imgur.com/a/nTPoacB

66 Replies to “The danger of trusting Crypto exchanges | ACX.IO”

  1. Alex

    I submitted my complaint to ASIC yesterday.

    I’m afraid we won’t see our money. It was a scam. Fake BTC volume, fake orders, they let everyone deposit the funds without an option to withdraw…

  2. SamM

    Yes Alex, I suspect the same. Their hot wallet seems to have below 1 BTC (0.39683457 BTC) at the moment.

    Hot BTC address : 1CnzYAKV6VHEzM8HA1LVRpmPp7jj57E7yq

    We are thinking of suing the basted. (Sorry for the foul language)

  3. Alex

    The fact that there’s no communication (no support, no news, no updates, no nothing from the very beginning) with the company means that it’s a dead business, i.e. they don’t care about their reputation anymore. Which means they are not coming back, but buying time to protect themselves, hide the stolen funds etc.

  4. SamM

    Exactly Alex. They have recently updated their company ownership details from Blockchain Global to PEAK TRADING. Seems to me this is an exit scam.

  5. Alex

    Interesting. Also, they have just recently removed their “office address” (underneath the ADCA, Blockchain Global logos). I think they removed it on Saturday or Sunday.

  6. Janan Balendran

    Thanks but the complaint should be made against acx.io

    As used herein, “ACX“ refers to the company PEAK TRADING GROUP PTY LTD (ABN 21 627 704 090),

    I know blockchain maybe a shareholder but may be worth putting in a complaint for the company directly – as it ma

  7. Eric

    I had BTC with them also. Happy to hear any updates on the situation. I also filed a report with ASIC but it seems pretty clear that they won’t be involved in recovering funds.

  8. Alex

    ACX Exchange

    Thank you for your correspondence in relation to your concerns about being unable to withdraw your funds from the cryptocurrency exchange platform operated at http://www.acx.io.

    Our role

    ASIC assesses every report we receive. ASIC must first determine whether the concerns you have raised suggest a breach of the laws that we administer. We then consider what regulatory action is available, and what, if any, action is appropriate.

    Depending on the structure of a particular investment, some crypto currency assets may be regulated as financial products in Australia, while others are not. ASIC’s position on cryptocurrency and the services that may require an Australian Financial Services licence is set out in INFO 225 Initial Coin Offerings and cryptocurrency.

    We do not act for individuals and generally do not take action to recover funds for individuals. This is because our role is to protect investors and financial consumers as a whole.

    If you would like further information about our policy in this regard, ASIC Information Sheet 151 ASIC’s approach to enforcement and Information Sheet 152 Public comment, provides further information about how we approach our enforcement role.

    If you are unable to resolve your dispute with the platform directly, you may wish to seek legal advice about what to do next and whether there are any private civil remedies available to you.

    We have recorded your information in our confidential intelligence database as we conduct our assessment. We will not contact you again unless we require any further information to assist with our inquiries.

    Yours sincerely,

  9. Li Na Lee

    Hi, I am one of the victim who now currently unable to withdraw and transfer my fund from ACX.IO
    I am not Australian and also not staying in Australia. Is anyone can help link me to the group who been affected by this problem !? I hope to get latest new regarding this issue and really hope we can get back our fund.

  10. MartinBT

    At last Blockchain Australia (ADCA) has made a statement about this issue:

    “Although Blockchain Australia has no enforcement or regulatory authority in this matter, we have been in contact with ACX to urge that they resolve this situation as swiftly as possible.”

    Blockchain Australia Media Release

  11. Harlem

    Guys, I think it would be better to complain as a group . Please text me on wechat “ changpeigong”. See if we can some up with something . Or send me an email

  12. John

    Acx was or is not a scam. I have used them since 2016 and withdrawn and transferred large amounts of crypto many times and withdrew 50k aud as recently as mid 2019. Something has gone wrong lately but that they have no updates is troubling. Must be that the response from Adam and Lee is either undecided or that it’s over.
    P.s I cannot find any fb group on this. Link is nothing

  13. TimMartin

    @John, most of us has trade before with ACX before it stold our asserts.

    It is a SCAM now !!

    Samuel Xue Lee & Allan (Liang) Guo are Scammers. We lost money and faith in Australian Crypto Exchanges. (We have to accept that)

  14. Li Na Lee

    Alan, please provide your email address , i will link you to the group who going to take legal action against to ACX.IO

  15. YAN YAN

    Hi, pls add me into your group. I’m a victim too and would like to join the group to seek legal advice against ACX.

  16. Will B.

    Hey guys, I’m taking direct recovery action so would be great to join forces if there are already strategies in place to sue / recover/whatever can be done. Perhaps we could crowd fund a private investigator or consolidate our lost funds and engage a debt collector. Just my initial thoughts. I’ll sign up to fbook group, Cheers

  17. Sam Muller

    Hi,

    I have sent you the FB link to your email.

    There is a vetting process involved to make sure no scammers get into the group. So they will ask you some info. like the ASIC complaint you made etc.

  18. Sam Muller

    Hi Will,

    Yes. you are correct. More people get together it will be easy to fight these basted’s.

    If you can’t find the FB group let us know.

    Cheers,
    SM

  19. Tyler

    Hi Guys. I have filled out the victim form and applied for the facebook group. However i’m still not getting any correspondance. Who can i directly contact that is persuing this?

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