Why Exmo is a scam

Long story short: they’re stealing your deposits to cover their losses.

Long story. Kickico project was hacked on July 27, to be precise owning key of KICK coin smart contract was stolen and some tokens were burnt. Kickico project recovered access and promises to restore stolen/burnt tokens. Interesting token contract and very lucky guys. Really interesting thing starts next.

Exmo.me crypto exchange also suffered a loss of KICK coins. And they started to lay their hands on KICK deposits which were sent *after* the hack, i.e. on coins which were perfectly safe. The scheme is the following: you send deposit, it is confirmed in Ethereum network, but you won’t see it in your exmo wallet. Support is making excuses about technical maintenance (10 days of maintenance? C’mon), but I know that tokens were safe before transacting to exmo and don’t need any maintenance. The likely root of the issue is that they’re trying to cover (maybe temporal) expenses at the expense of users.

The bottom line is that if you’re using exmo — consider more trusted exchange, otherwise you’re exposing yourself to a high risk of theft or funds blocking.

Update: looks like it’s a regular practice https://www.cryptocompare.com/exchanges/exmo/post/p_430930