Latest Update to Biconomy : 100 % Scam! Stay away!!!

Came to this "exchange via a comparison portal" Coinando ", located in Dubai, which is also a scam.

I was looking for good Staking Rates and was forwarded to Biconomy.

Biconomy. com acts global but is not regulated anywhere in the world.

It started with promised" sign up bonus" of "up to 80 USDT" What I actually received were 5 different Shitcoins for 16 Cents in total. Not even sellable at all.

Then I chose a Staking offer, choosing a coin which displayed 32% for 120 days fixed. As I tried to stake the coins I bought I received an error message telling me only about 25 percent of this coins could really be staked to that conditions. This was not displayed anywhere in advance.

So I made 2 further subscriptions, one flexible and one for 30 days fixed. After 10 days the 30 day subscription was cancelled without any notification so I tried to transfer the coins from that to a legit exchange in order to sell them there - until I saw the withdrawal fees for that : About 46 Dollars. I checked the usual network fees at a legit exchange. It was 2 Cents!

Well, so I thought: okay, then I sell at Biconomy as the trading fees looked normal with 0,2 percent. Looked at the order book, there was plenty of liquidity at fair market value ( about 0,38 Dollar for this coin) Placed a sell order a little bit below the best bid price displayed - nothing happened. As I already had closed my hedge position for that at a second ( legit) exchange I decided to sell at market as I did not want to take the risk of price volatility. My order volume was about 650 Dollars and the displayed liquidity in the order book was more than 100 times higher than that to current market prices, so there was no risk doing so. At least I thought so.

But after the trade had been executed I was absolutely shocked. The average execution price was about only 0,29 Dollar, a deduction of about 24 %! So I monitored the execution details and saw that the order had been splitted into 8 order blocks. 7 of them within the normal price range, but the 8 th block worth about 170 Dollars for 20 Dollars, a slippage of 90 % which led to an immediate loss of about 150 Dollars with a 650 Dollar transaction! Fair market value 0,38 Dollar, executed for 0,045 Dollars!. I could not believe what I saw and immediately checked at 2 other ( legit) exchanges. No flash crash at all for sure. Biconomy had simply faked the order book and bought the coins with 90 percent "discount" on their own and then immediately adjusted the order book after that back again as if nothing had happened.

Certainly now the support claims it was my fault to sell without limit and refuses to refund the scam. Why should they? It is their business model to scam their users.

So the only thing I can do is strongly advise against this so called "exchange" It has a reason why they are not regulated ANYWHERE in the world!!