How Mandala Exchange Robbed Me! – Bosco
At this point I was still convinced that this project would succeed so I decided to use the BTC that I had made and bought some ETH so that I could place some orders to buy more MDX on the MDX/ETH pair. The ETH pair was more liquid and active than the BTC pair but I placed some orders on MDX/BTC anyway. It took a few days for someone to sell into my MDX buy orders on the ETH pair but eventually they did and at much lower prices than the current value. I managed to accumulate a decent stack of MDX and was delighted because now I was one of the top holders of this coin.
Unfortunately I couldn’t withdraw any of the funds at the time as the team had withdrawals suspended for some time at that point. There were a few complaints about withdrawals in the main telegram channels so i didn’t even try to withdraw.
A few more days went by then I wake up to a lot of unread messages in the VIP chat group. The team had noticed the trades and they were going nuts saying whoever it was to come forward or have your accounts banned!
I spoke with the others who made trades also and we decided to let the team know it was us that had those orders filled.
The team responded to us thanking us for making ourselves known to them and as we were heavily invested and all members of the VIP group we would not have our accounts suspended but they wanted to roll-back our trading accounts to our very first deposit which at this stage was nearly a year ago!!
We questioned them and did not agree to a roll-back of our accounts. We had placed orders on a trading pair and they were filled. Nothing else. They claimed that they would press criminal charges against us if we didn’t agree to the roll-back! For what exactly?!
They then made us a ridiculous offer of free trading for life if we agreed.
The chat got a bit heated but then settled back down with the promise of no banned accounts. I have a full transcript of the conversation but am keeping this private for if/when this goes to court.
In the coming days everything seemed to go back to normal. We were chatting friendly in the chat rooms with both admins and other members.
The funds remained in our accounts so I continued to trade with it selling my BTC and ETH to PAX just before the drop and re-buying again later.
A couple of weeks later we knew there was an update on the exchange coming on the 11th of October which included turning withdrawals back on.
I was feeling pretty confident that they decided to drop this idea of trying to roll-back the accounts but I was wrong. I woke up on the 9th of October to find I had been removed from the VIP chat and the main chat groups of Mandala.
I was obviously confused and wondered what was going on so I messaged the guys I knew had been caught up in all this and 2 of the 4 of them had similar. I tried to log into my trading account and was greeted with a message reading…..
This account is currently suspended, please contact our support team to restore access.
I couldn’t believe it! I felt sick to my stomach!
I reached out to the admin team and was told by them that the account suspension was a mistake and that they would look into it. I have not had any response since other than being told to open a support ticket. I was and still am confused as to why they seemed to be letting two others keep their accounts and the funds they had generated on the same pairs.
The worst part of this is that I had quite a bit of money on that exchange. This supposedly fully compliant exchange.
It seems the only thing I’ve left to do is go public with this and hopefully no-one else falls victim to this exchange.
I will be taking the appropriate legal action and reporting them to all relevant authorities.
Thank you for taking the time to read this and I would greatly appreciate that you share this far and wide and hopefully we can stop at least one person from falling victim to Mandala Exchange.