The Liqui.io cryptocurrency exchange has replaced the front page of its website with an announcement that says “We gave you the right to decide whether you want to be with us in our Crypto Exchange journey by accepting the changes. Much to our regret, after this step Liqui is no longer able to provide liquidity for the Users left. We also do not see any economic point in providing you with our services… Hence, we decided to close all accounts and stop providing our services. It broke our hearts to do that… After 30 days we cannot guarantee that we will be maintaining our website.”
The closing of Liqui.io comes after months of scam accusations due to suspicious delistings in September and October. Popular cryptocurrencies like 0x (ZRX) and Basic Attention Token (BAT) were delisted for no apparent reason, just after these tokens increased in popularity due to being added to Coinbase.
Users were only given 15 days to withdraw funds after the delistings, and failure to withdraw led to the cryptocurrency being seized. Numerous users complained that withdrawing funds by the deadline was not even possible.
Today, site is not allowing me to withdraw my tokens.. please help me.
It is saying withdraw blocked till November 12th..
But tomorrow is last date.
Please help me..
— Sairam (@sairamnagothu) November 10, 2018
@Liqui_Exchange we cant withdraw and withdrawals are stuck in"Awaiting confirmation by email". What will you do about this as you are delisting/taking coins tomorrow?
— Nasser (@somnusx) November 9, 2018
I am stucked with ANT @AragonProject @AragonOneTeam withdrawal, and support is not responding since Dec 5th. The Tx failed 0x83c0ca8d63357f8734a75fbca8a82699cda0ff7d27fcfa2fc4bfb44c1a41ea7b , and the the tokens are nowhere to be found now.
Ticket ID: #56153
— Amar Chhetri (@AmarChhetri) December 15, 2018
“We may charge a fee in the amount of 3.33% a day from the total amount of the Delisted Digital Asset left after No-charge Withdrawal Period passed… Liqui does not accept any liability, either directly or indirectly, with any loss caused by delisting a Digital Asset,” according to the new terms of service.
— Henry Gomez (@henry8683) December 30, 2018
I can't get my token balance for liqui. how to do it? 🙁
— Crypto Times Online (@Ohayeza) December 28, 2018
Liqui.io asked users to agree to this new condition, where 3.33 percent per day is deducted from balances left after the “no fee” withdrawal period ends, and Liqui.io is not responsible for any user losses. Unsurprisingly, most users did not agree to the new terms of service, which would let Liqui.io off the hook from lawsuits due to the negligent delisting practices.
So per your email, you suddenly had a change of heart and decided to return our stolen/delisted assests. However it is appalling that you force us to agree not to sue you to even get the process going. Also you have zero instructions on how to recover them.
— Steve Wilson (@Jabronit5) December 30, 2018
A lack of customers agreeing to these new conditions is supposedly the reason Liqui.io is shutting down. However, customers reported that they could not access their accounts even after accepting the new terms of service.
At least one user who just got the message today managed to get into their account, only to find all their coins are gone.
So i missed all announces and got a mail today. I went straigt to login and i ve seen my coins are gone. Is this seriously a exit scam? Support ticket doesnt answer. Anyone can confirm or help me please?
— Haschim (@CactusHash) January 28, 2019
Overall, Liqui.io appears to be an exit scam. It started in September and October when popular cryptocurrencies were delisted for no apparent reason. Users complained en masse since they were not able to withdraw when they saw the delisting announcement and presumably many other users did not even see the delisting announcements in time. Now Liqui.io is shutting down after changing its terms of service to waive any legal obligation to pay users back who lost cryptocurrency during the delistings. Some users even agreed to the new terms of service, but could not access their account regardless.
Even more suspicious, Liqui.io has deleted all identifying info from its about page, and the Liqui.io Twitter has been inactive for a month before today’s shut down announcement. Liqui.io is located in Kiev, Ukraine, and aside from a picture on Bitcointalk nothing is known about the operators of the exchange.