After four days of waiting for “number to go up”, the scammers behind Swapnex have given up and pulled the plug.

I’m not sure why, but they’re also trying to pin the blame on COTP.

Earlier today Swapnex advised investors it was disabling daily returns calculations.

Unfortunately, we have to temporarily stop accepting new orders in both manual and auto trading modes. Payments for all the previous orders are also stopped until the situation changes.

This was mostly a token gesture seeing as
withdrawals were restricted
earlier this week.

About an hour ago whatever exit-scam Swapnex was pulling behind the scenes finished, so they pulled the plug.

Dear clients!

Our biggest broker has refused our query to refund the money we sent them to execute orders.

In addition, the Swapnex website is constantly subjected to DDoS attacks by this broker. It is a COTPS company. Through it, we have been running our orders and making payments.

As you may remember, we are not a classic arbitrage platform. We are merely an intermediary between you and the market.

According to the Swapnex Terms and Conditions, we are not responsible for any financial losses and risks that the cryptocurrency sphere involves.

From this moment, our website stops operating, and all liability for your debts is the COTPS’s responsibility.

The stuff about brokers is bullshit. DDOS is an exit-scam cliche. Blaming COTP appears to be part of the exit-scam.

Swapnex
was a Boris CEO Ponzi scheme run by Russians.
COTP
is a Ponzi scheme run from Asia.

I can’t 100% rule out the possibility Swapnex and COTP aren’t run by the same scammers but it’s unlikely.

The rest of Swapnex’s update is basically “sorry for your loss”. A reminder to investors that any “how do I get my money back?” comments left below will be marked as spam.

Of the MLM crypto Ponzis doing the round prior to last week’s crypto crash,
Metafi Yielders
and
COTP
are the only two still stringing investors along.

Metafi Yielders disabled withdrawals yesterday. They’re supposedly supposed to be open again but I haven’t seen any confirmation.

Regardless, Metafi Yielders has also implemented
withdrawal restrictions
till mid June.

COTP first blamed the TRON blockchain, now they’re pulling the old “
SMS verification problems
” baloney.

COTP were supposed to have their technical issues fixed yesterday but I’ve also seen no confirmation of that.

At time of publication Swapnex’s website and socials were still online. We’re expecting they’ll disappear sometime over the next 24 hours.

Update 20th May 2022 – 
Swapnex has redirected their website domain to COTP’s website.

🤖 Quick Answer

What happened to Swapnex?
Swapnex, a trading platform, ceased operations after four days of suspension. The company disabled daily returns calculations, restricted withdrawals, and stopped accepting new orders. The website was subsequently pulled offline, indicating a complete exit-scam scenario. Management attempted attributing responsibility to their broker COTP for fund refusal.

Why did Swapnex blame COTP?
Swapnex claimed their primary broker refused to refund money sent for order execution. This assertion served as the official justification for the platform's operational shutdown and inability to process client withdrawals, though independent verification of these claims remains unavailable.

What restrictions preceded the shutdown?
Prior to the complete exit, Swapnex implemented withdrawal restrictions earlier in the week. Subsequently, the platform disabled daily returns calculations and suspended both manual and automatic trading modes, preventing new orders while halting payments on

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