HPX

If the information on the exchange’s “About” page is to be believed, then the trading platform has been established in Melbourne, Australia in December 2017. However, a statement like this is hard to accept as the whole website (the “Terms and Conditions” page in particular) is written in exceptionally bad English. Further research reveals that the first version of the website was in Chinese. It was on September 7th, 2018, when HPX officially launched an English version. Considering all of the facts mentioned above, it seems more probable that the exchange is from Chinese origin, rather than Australian.

Another profoundly concerning fact about the trustworthiness of the exchange is the lack of any online presence. There is no information about who runs the exchange as well. At the time of this writing, there is only one sentence in the whole website that mentions the name of a company that may potentially be the one behind the trading business. It states the following: “Hyerpaychain technology ltd makes no ownership claims of the cryptocurrencies transferred to our Site for use of our Services.” At the time of this writing, there is no information about such a company. Even searches for alternatives of the company name (due to potential typos) do not return relevant results about cryptocurrency- or exchange-related businesses. However, at the bottom of the website, in the “Cooperation Platform” section, there is a link to a website of a company called “Hyper Pay” which is a mobile wallet provider. The contact details include the email info@hyperpay.tech which resembles the name of the company, mentioned on the HPX website. The information about the team behind Hyper Pay, however, is not very helpful. The website states that the company is comprised of “several senior blockchain experts and leading figures in the digital currency industry with over 10 years of industry and internet experience” but nothing more. Therefore, it is impossible to find any meaningful details about the team behind the HPX Exchange, which is definitely a problem in the fragile world of cryptocurrency exchanges and the ever-increasing scam schemes.

Aside from that, the exchange’s website is no different from most of the other semi-to-non transparent exchanges. On its main page, HPX describes itself as a “fast, secure, and caring” exchange with low fees. It also promotes some features and advantages such as fund withdraw in 2 minutes, multiple mechanisms of security and 24/7 Customer Support live chat. However, there is no further information about those security mechanisms or quick fund withdraws.

Similar to many other cryptocurrency trading venues, HPX offers a referral program that promises the chance for “long-term maximum 60% commission rebate”, as well as to “become permanent partner of HPX.” It also adds that clients who invite their friends have the chance “to permanently get 50% commission on transaction fees.” All trading on the exchange, as well as the rebates from the referral program, are delivered in CNY Tether (CNYT). It supports fiat, however.

Another concerning fact is the multiple complaints from users struggling to get in touch with the exchange’s customer support. Part of the reason may be that all over the website, there are emails from the old domain which may not be synchronized. However, in the “Privacy Policy” page, the exchange’s team states that those who want to get in touch with the company should address their emails to the following email: support@hypex.io. Yet, it remains unclear whether this is the sole reason for the lack of communication from the support team.

At the time of this writing, there is no information about hacker attacks or government investigations related to the HPX Exchange.