file a suit against a fraudulent cryptoexchange?

Mercatox

Dear all,

I'm looking for a piece of advice to file a lawsuit against a fraudulent exchange.
On its webpage, the exchange appears to be in the jurisdiction of Seychelle yet the exchange says arbitration should take place in Vanuatu. Basically, i'm having a difficulty in finding out its legal entity information, which the exchange refuses to disclose. What might be the best way to start a legal process?

Any advice will be deeply appreciated.

Nody

Save your money and walk away because you're not going to succeed and accept the loss. Legally speaking they can be based in Seychelles and have arbitration in another country and you'd need to start with showing how that's not compliant (which is a pile of cash), then sue them for it (another pile of cash) in at least one if not multiple different foreign court system (another pile of cash and not even touching the bribe aspect of the countries in question). Before that however you even find firms (yes, multiple) to represent you in all the different jurisdictions (who all will promise you everything and charge you for it but you'll have very little chance to actually review their quality), then enforce the judgements (assuming you somehow win) and that there are actual assets you will get hold off (crypto as you've learned is very easy to move or disappear and they know the local government and departments unlike you). In short you'll end up spending a lot of money for very unlikely success and short of doing it out of spite and being ready to drop six figure money for nothing returned I'd not go after it (this is based on a dispute I've had over inheritance and discussing with lawyers over recovering money and assets from certain Asian countries where it was illegally moved).