ProEx Exchange Vanishes! CSO, FITC, QAS Involved in Crypto Scam – Official Communities Vanished

Taiwan has recently experienced a large-scale cryptocurrency scam involving local exchange ACE and overseas exchange ProExchange. It has been discovered by the community that multiple platforms of ProExchange, including Facebook, Discord, Instagram, and Telegram, are no longer accessible, indicating a possible exit scam. ProExchange claims to be based in Singapore and has obtained a 3A-grade KYC standard and dual licenses from the US and Canada. However, according to WikiBit data, ProExchange’s financial licenses do not authorize it to operate a cryptocurrency exchange, making it an unauthorized operation with potential risks. Some anonymous individuals have criticized ProExchange as a fraudulent operation targeting Taiwanese investors rather than a legitimate exchange. The tokens most frequently traded between Taiwanese investors and ProExchange include QAS, CSO, CFO, BNAT, and FITC, all of which are considered by the New Taipei City Police Department to be involved in investment fraud. The exchange’s website no longer allows the exchange or browsing of CSO and FITC tokens. Victims of this scam are urged to follow a specific reporting process, which includes filling out a Google form, going to the police station to provide a statement, and leaving the case number in the community notebook of a self-help association. The New Taipei City Police Department strongly encourages victims to protect their rights and interests. It is important for victims to gather evidence and report the case to the local police station, providing details such as the timing of the transactions, the individuals involved, the amount of cryptocurrency purchased, the type of cryptocurrency, the social media account used by the other party, and any bank account information. It is also recommended to prepare evidence such as purchase receipts or contracts, records of transactions, pictures or avatars of the individuals involved, and any relevant attachments. The New Taipei City Police Department advises victims to upload the case information to the “165 Anti-Fraud Platform” and leave a message in the self-help association LINE group notebook with the police station, case number, and 165 case number. Additionally, victims can join the LINE group “ICO Scam (MOCT, BNAT, NFTC, CSO, FITC) Joint Lawsuit Self-Help Group” to stay updated on the latest progress and consult with designated personnel from the New Taipei City Police Department.