Beware of GoldxCash!

About 11 months ago, I read a newsletter from Capitalex.com about Goldxcash being a scam. I visited the goldxcash website and could confirm that they indeed stole Capitalex’s web design.

Well, some months later, I fell for it too. By then, I had forgotten the website Capitalex was warning about.

GoldXCash is a scam
Submitted by Capitalex.com on Tuesday, January 31, 2006 – 17:11

This is a public warning against a scam exchanger called GoldXCash. Not only did they steal our website design, they are in fact an outright fraud as has been confirmed by many e-currency holders who tried to use them and lost their money. We do not link to the GoldXCash scam website here but they are not difficult to find, and even easier to stay away from.

I had e-gold and needed paypal funds urgently. After a lengthy Google search, I decided on Goldxcash. Yes, GoldxCash! I was fooled by their Paypal account being verified, and the clean interface of their website. The website seemed sophisticated, and promised to deliver my paypal funds in two hours – even if it was a weekend or holiday!

Surprisingly, when I tried to check their paypal account’s status this morning, I got this:

[email protected] is NOT PayPal Verified

What it Means to be Verified

To become Verified, a PayPal member in Malaysia must enroll in our Expanded Use Program. When a member completes Expanded Use enrollment, he undergoes additional checks that increase security for all PayPal users. Please note that PayPal’s verification system does not constitute an endorsement of a member, nor a guarantee of a member’s business practices. You should always consider other indicators when evaluating members, including length of PayPal membership and reputation scores (on eBay or other auction sites, if applicable).

I tried sending $2 to their paypal account, and got this “This recipient is not yet registered. PayPal will send an email to the recipient explaining how to complete your transaction.” Of course, I was sending no money. I simply wanted to re-confirm the status of their paypal account. Apparently, Paypal has terminated their account.
According to Goldxcash’s scammy website:

Welcome to  GoldXCash, the internet’s first independent digital currency exchange provider, serving the digital currency needs of thousands of clients. GoldXCash is a company you can trust to look after all your e-gold needs.
Our fees are the lowest on the net, and our customer service is outstanding.

Goldxcash.com is a Reliable E-currency Exchange Provider. We  support exchanging from Gold e-currency to PayPal, StormPay, MoneyBookers, Bank Wire, Check/ Money  Order, Western Union / Money Gram, more options will come soon. Exchanging e-currency has never been easier – all you need to do is just make order at our site. Trade with confidence. We Offering extremely competitive rates, fast, dependable and efficient service.  100% private – we will never ask any information solely for verification purposes.
All information we request is essential for the exchange process. The Client will receive his money, quickly and securely.

Do not fall for this! I sent them $50 e-gold and never received any paypal funds. I even send a money request via paypal, and they cancelled it later. Be warned. Beware of Goldxcash. Its a scam!