Is Capitalex.com an e-currency exchange scam?

Capitalex.com according to information retrieved from the 17th March 2007 version of their website through the Internet Archive WaybackMachine:

Capitalex.com Inc. is a global gold merchant corporation, established in the Republic of Panama as a subsidiary of the International Currency Conglomerate (ICC).

In business since March 2004, Capitalex.com is dedicated to making a decisive difference in the lives of its clients by providing them with Superior customer service, Rapid order execution, Competitive prices and special offers.

As 0730 GMT today 2nd July 2007, a check on www.capitalex.com simply displayed thier logo and the follow text:

[email protected]
Capitalex.com recommends:
Reliable exchanger: Instant Gold Exchange
Innovative new e-currency: Loom.cc

No mention is made as to their reason for shutting down, on their blog.

Capitalex.com gained much popularity of the years, as a result of their professional e-currency exchange services. They also endeared themselves to their customers through their “Real Money Review” newsletter/publication. They had also been blogging extensively about e-currencies, scams, e-currency usage surveys, their own services and until recently, were also offering Virtual Credit Cards for sale though theirs were rather pricey.

Capitalex.com was also behind the extensive campaign against INTGold, until the “ecurrency” folded-up. See intgoldsucks.com

They even at one time, made offers to clients to invest their gold with them, so they could share the profit at a later time. Capitalex.com seemed formidable and invincible.

Capitalex.com was not listed as one of the e-currency exchangers who lost some gold, when e-gold Ltd’s troubles began. So, one cannot say they lost their gold deposit. More so, Capitalex.com is not based in the USA. Their websites are currently hosted in Malaysia.

Located in Panama City, the Crossroads of the Americas, Capitalex.com offers timely and efficient gold merchant services to customers around the world, 365 days a year.

Words have been going round on various blogs and forums, that Capitalex.com is a scam. The e-currency exchanger has however been refuting some of the allegations, on their blog, as recently as 2nd June 2007.

That their main website can close down today without any announcement to customers or information on their blog, can only make one suspicious and speculative.

Are you a Capitalex.com staff? Are you a customer? Do you have any information about the unavailability of Capitalex.com? Share your thoughts by posting a comment.

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Oluniyi D. Ajao
Oluniyi D. Ajao is an Internet Entrepreneur and Tech Enthusiast based in South Africa. Follow him on twitter @niyyie for more tech updates.

2 Comments

  1. Capitalex sent me a final email at the beginning of June. Richard? stated that they got scammed and that I was on their list an that “we won’t forget you”. They owed me $15,500 usd from April 2006.
    Thank you

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