According to information from the Twitter page of Neraex, the exchange was founded in May 2018. There are also multiple third-party reviews that claim that the exchange was established in 2017. The controversy surrounding the exchange isn’t helped by the fact that Neraex doesn’t have a LinkedIn page which makes it very hard to track the owners and the team, behind the project.
Investors considering whether to use Neraex.pro’s services should bear in mind that, while the platform is located in Japan, one of the few countries that regulate the cryptocurrency sector, at the time of this writing, it isn’t overseen by the FSA. This, alongside with the lack of information regarding the business, running the project, should serve as a red flag for those, considering choosing Neraex as their cryptocurrency exchange.
Regarding the security measures, the exchange doesn’t reveal much as well. The FAQ section on its website has just one question aimed at the topic of security that doesn’t reveal much. Neraex claims that they take “protection of your personal information seriously” which is why they employ “industry-standard data encryption technology and have implemented restrictions related to the storage of and the ability to access your personal information.” Aside from that, the team behind the project doesn’t share anything else. Information from external sources reveals that Neraex stores its clients’ coins in cold wallets and employs two-factor authentication. However, there are no proofs within the information provided by the exchange to confirm that.
Contrary to other exchanges that develop their own tokens, Neraex decided to acquire a ready-made digital asset, called Wo Token. However, its website doesn’t say much about the digital asset. According to the limited information there, Wo Token is “a comprehensive blockchain application consisting of WO TOKEN intelligent platform, WO TOKEN and digital asset bank card.” It proceeds to say that more information is available in the whitepaper which, at the time of this writing, cannot be accessed.
At the time of this writing, it is hard to find a positive customer review regarding the service that Neraex provides. In fact, users on Reddit, Bitcointalk, as multiple review platforms report about numerous different issues, such as disappeared deposits, missing funds, slow order execution, and inability to withdraw. However, the one problem that all users have in common is the inability to get in touch with customer support. Some clients report for months-long waiting times, while others are banned by IP if persisting in their efforts to find their missing funds. This tells enough about the quality of the exchange’s service and the way it treats its customers.
At the time of this writing, there is no information about hacker attacks, security breaches, or governmental investigations targeting the Neraex exchange.