Estonia-licensed cryptocurrency trading platform ChaoEX has a daily trading volume of over $131 million for the BTC/USDT trading pair.

Several voices emerged on Reddit that the platform had committed a scam and disappeared with users’ funds. Although ChaoEX announced that it was performing maintenance on the platform on December 19, it has been offline since then either through its mobile app or via her website.

Many users have not been able to withdraw their Ethereum since the maintenance announcement was posted on December 19. ChaoEX says it is based in Hong Kong, but is licensed in Europe and has more than 70 employees on the team.

A site recently revealed that the technical team for the ChaoEX platform is urgently working on December 19, 2019 to maintain the platform and provide its services again. But the ChaoEX platform has since gone offline and their data has not been updated.

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There is conflicting information about the platform, and it is most likely that they scammed and got away from the market with a huge amount of users’ money.

CoinMarketCap, a crypto-tracking and trading platform, has last pulled information from the platform, and the available information indicates that $131.5 million worth of bitcoin was traded on the platform within 24 hours before going offline.

Additionally, Litecoin traded at $2.7 million, ETH/BTC at $1,223,934, ETH/USDT at $1,780,138, and HT/USDT at $4,434,577, The BSV/BTC pair worth $1,398,337 were all also traded on the platform during the same period.

Both domain names:

chaoex.com, chaoex.io, chaoex.info

Offline at the time this topic was submitted.

Where is the CHoEX token for the platform?

CHE is an Ethereum token with 500 million in total supply.

The digital token CHE has a value of $0.0037 at the time of writing. The information from Etherscan 612 addresses contain CHE.

However, the two CHE-related sites are offline at the moment and there is no information about the token on CoinMarketCap.

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CHE is CHAOEX and is an official global symbol issued by the CHEX Corporation. And theIt said The digital token is largely used for CHE’s global community building, platform environment development, project incubation, and public sponsorship activities.

ChaoEX . hack

In September, ChaoEX claimed for the first time that it had been attacked by a hacker in which a few cryptocurrencies were stolen.

However, the platform claimed that no user was affected by the hack. During that time, ChaoEX was not transparent enough to reveal how much cryptocurrency had been stolen by unidentified hackers, causing withdrawal issues.

ChaoEX staff

On June 29, Asia Blockchain Review released an interview with ChaoEX founder and CEO Matt Kim.

The platform was launched in June 2017 and became fully operational in September 2017 and was said to be approved by the Estonian government and granted official permission to operate. Information from CrunchBase revealed that ChaoEx has raised $2.5 million in funding.

According to the interview, ChaoEX succeeded in the first round of financing in early 2018 and got massive support.

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ChaoEX also claimed in an article that it was founded by UNIQUE Network Technology “(Hong Kong) Co.Ltd.” The company claims that the platform’s head office is located in the Hailian Building, in Causeway Bay, Hong Kong, China.

In another interview, Jason Wong claimed to be the CEO of ChaoEX, saying that the platform was funded by Cherubic Venture in 2018 before the platform conducted crowdfunding as it received 3,000 BTC in just one week.

But it returned 2,700 BTC to investors because the CEO believed it was “unfair to value a startup too high.”

ChaoEX is a member of the “Pow Alliance Network” and is said to be regulated by the Estonian government and EU laws related to license number FVR000397 and has fully independent intellectual property rights.

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