Koinex India takes Indian Bitcoin Investors for a ride, Unable withdraw own money


There has been news about Bitcoin not legal in India for quite some time but it seems there is no stoppage from the indian bitcoin fans to stop investing in bitcoin and other alt coins like ethereum, Ripple, Litecoin, Dash, Bitcoin Cash, Stellar Lumens Coin. In spite of repeated warnings from RBI and Finance Minister appealing Indian Citizens to not invest in Bitcoin or bitcoin like crypto currencies, people of india are not stopping to buy bitcoins and other crypto currencies especially the new coin Stellar Lumens (XLM) which is easily available today below $1 or you may say below Rs50/- in Indian Currency followed by another hot currency Ripple (XRP) which is available for less than 3$ and in Indian rupees it is available for a premium approximately less than Rs 250/- seeing the kind of growth potential of Bitcoin, Ethereum, Ripple the citizens of india started hunting for an Indian Crypto Currency Exchange where all these are available to trade in a single platform as ZEBPAY (No.1 Crypto Exchange in India) doesn’t support other Coins except Bitcoin, Indian Bitcoiners landed to a Mumbai based crypto exchange named as “Koinex India”

Koinex India initially gained popularity and had an instant deposit and withdrawal facility and there customer service was really appreciable but to the surprise of the koinex users during the month of December 2017  Koinex Team planned to give a surprise new year gift to Koinex Users who have heavily invested in Bitcoin, Ethereum, Ripple especially Ripple Coin which is hottest Coin in today’s market. on 31th December the website of Koinex India places a note above the top menu bar

” INR Transaction Update : We regret the inconvenience caused due to delay in enabling INR transactions. We are working on highest priority to resume INR withdrawals followed by INR deposits very soon. this delay has caused due to unforeseen issues with our payment partners. we are in the final stages of enabling INR transactions for our users again for users. we thank you for your patience .” 

since then the koinex team is either changing the notice above the top menu bar or publishing blog about there issues with payment partners and unable to enable INR Withdrawal and Deposits . Its been 15 Days since our Bitcointinue Team have been closely keeping an eye on koinex website but to our surprise there seems to be no good news. The users of Koinex India have now taken the matter to social media to let other Crypto Coin investors know about there New Year Koinex Gift and the difficulties they are facing with Koinex India and appealing new bitcoiners to stay away from koinex india. The users of Koinex are now doubting if they have been taken for a ride and no sign of getting there money back except if you are smart you can withdraw your money converting it to bitcoin with a  higher price  in Koinex and then transfer it to most reliable indian Bitcoin Exhange Zebpay and make your investment safe .

Below are some of Koinex Users comments :

Jalaj Kumar :

It was a great experience for me for cryptoCurrency trading on koinex platform. But I am suffering a great loss because of lack of customer support from koinex. My account is blocked all of a sudden without any prior warning due to blurred image of adhaar card. I dont think its right way to suspend anyone account, especially where customer is doing

Sameer Naik :

Will the withdrawals be taken offline after that? What’s the plan here, some clarity will be helpful.

Sunil Nag :

When are you closing pending issues?

142296- Pending for more than a week

Chandrabhan Kewlani :

My account has been struck.

I have a lot on crypto balance and inr wallet balance struck. And I am not able to do anything. No one is replying to my tickets worst service from koinex.

Please get my account working again..

There is some issue of kyc.

It was verified before but I don’t know why its showing as uploaded now.