2139 Exchange Claims to be Licensed Amid Scam Accusation

Trading crypto assets is quite risky, and when it comes to fraudulent online trading platforms, even getting your capital back becomes a mission impossible, not to mention making profits.

Recently, a cryptocurrency trading platform called 2139 Exchange has been the subject of discussion among investors, and BrokersView received a request from a user to review the platform's regulatory status.

2139 Exchange claims to be an innovative digital asset trading platform based in the U.S. and  offers more than 40 asset trading services to professional traders in over 130 regions and countries around the world.

The firm must provide crypto trading services to its investors under the supervision of the U.S. Securities and Exchange Commission (SEC) as it claims to be located in the US.

_{2139 Exchange claimed to be investigated for suspected violations and froze all related accounts.}

2139 Exchange has published a license that appeared to be issued by the SEC on its official website, claiming to be authorized by the regulator since July 22 this year.

However, when searching for “2139 Ltd.” in the SEC's EDGAR system, no results yielded. In other words, 2139 Exchange is not registered with the SEC.

In addition, 2139 Exchange claims to have obtained licenses from the Accounting and Corporate Regulatory Authority (ACRA) in Singapore and the Financial Crimes Enforcement Network (FinCEN) in the US. However, the two are not financial regulators.

_{2139 Exchange claimed to be regulated.}

A BrokersView user has complained to us about 2139 Exchange, accusing the platform's agents of being scammers.

The client wanted to withdraw all of the USDT worth about $960 in his 2139 Exchange trading account, but was refused by the platform. The staff told him that he had to complete “300% trading volume” before he could withdraw his funds.

Faced with such an unreasonable requirement, the client felt very angry and accused it of a scam. Moreover, 2139 Exchange not only kicked the customer out of the chat group, but also stopped responding to his messages.

_{The client accused 2139 Exchange of scam.}

What's even more infuriating? This is not the only victim. After this user posted his complaint, a number of 2139 Exchange clients came to talk about their frustrating experiences with the platform and believed it to be a scam.

One of these clients exposed the connection between 2139 Exchange and another crypto trading platform Dolphin.

_{2139 Exchange is suspected of being related to the crypto trading platform Dolphin.}

Dolphin also claims to have a license from the Financial Crimes Enforcement Network, which is useless when proving its legitimacy.

Many victims are facing withdrawal issues with 2139 Exchange. Meanwhile, potential victims who mistook the company for a legitimate platform are being kept in the dark and could suffer huge financial losses at any time.

Investors are advised to carefully check the license of financial service providers before carrying out transactions to avoid being deceived.