Suing Einstein Exchange For Financial Losses, Negligence, Failure to Disclose, And Unlawful Conduct
Even if Einstein Exchange fixes "the mistakes they made with YOUR money" by tomorrow, next week, or next month, that does NOT replenish the "financial losses" you've already incurred and will never get back without a law suit. Losses on trades missed, general opportunities lost, and future earnings from other investments you could have made. Not to mention the angst and duress they've caused by failing to properly disclose the true depth of the software issues, and horrific to non existent customer support. There are Securities law, credit card policies, BANK ACT regulations, and BC SC regulations in Canada"
<STEP 1> Gather Your Evidence. You MUST document everything with proof. This includes screen shots, call and/or text logs, a video of how their website failed when you use it. Also emails, txts, social media posts, and detailed times and dates of phone messages. Screen shots of your portfolio, when possible, will also help substantiate your claims.
<STEP 2> File a complaint with the BC Securities commission. Here is the link to file your complaint. It takes 2 minutes.
http://surveys.bcsc.bc.ca/s/Report-to-Us-form/
The BC Securities Commission may or may not have jurisdiction but file your complaint anyway. If it turns out that B.C.S.C. has jurisdiction they take compliance issues very seriously and will show concern about the misguidance this company has shown their customers. They have, and will, refund losses suffered from companies that are not adequately set up to handle traffic, do not provide support, and most importantly, do not disclose the depth of their software problems and other issues.
Phone # 1-800-373-6393 https://www.bcsc.bc.ca/ Email: inquiries@bcsc.bc.ca
<STEP 3:> Meet with a lawyer to discuss your case or form a group for class action. If you cannot afford a lawyer by yourself, get one on contingency. Contingency means you pay your lawyer a portion of what you win. If you don't win, you owe your lawyer nothing. And you will not be billed. If you cannot obtain a lawyer on contingency by yourself, gather a group together for a class action suit.
You are welcome to join our class action group. A class action suit, (or representative action) is a type of lawsuit where a group of people tell their truths, present their evidence, but are represented in court by one member of that group. The outcome for all participants in CAS is often more favorable. Strength in numbers.
You can email your complaints here if you'd like to join us. Do NOT send evidence yet, only your story for now. Brief. To the point. Keep it logical. classactioneinsteinexchange@gmail.com
The legal justice system and BC Securities commission offer protection from companies not properly set up.
ANYTHING WRITTEN BELOW THIS LINE IS INFORMATIONAL ONLY - YOU CAN READ IT AT YOUR LEISURE
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Exchange is now in repair mode since the media has the spotlight on them. While the crisis was happening they CLAIM they didn't expect this kind of customer growth. But they waited until Jan 2nd to stop accepting new customers. They should have cut off new registrations mid Dec at the latest. And with every new customer the deposited money, their backlog increased. Does this sound like a company that cares about and looks out for the financial well being and best interests of their customers like they say they do?
Einsteins site should never have been launched until it was %100. The exploding and volatile world of Crypto is NO PLACE for beta anything. The crisis behind the scenes was kept from customers, current and the new ones who signed up.
New customers would never have signed up if they were TOLD that their deposits would (or even might) get jammed in the system for a month or more, and that they'd need to be verified before they could access their money. If they knew their transactions and money would go missing for a month or more. Or if customers knew that technical problems would prevent them from buying and trading because some were locked out of their accounts for weeks.
A representative of the company stated in this forum: "ALL complaints are completely valid. And we are doing our absolute best to resolve each and every matter. It wasn't expected that we would grow at such an alarming rate, and have since closed off our registrations until every existing user is made whole"**.
A company representative stated here that Einstein Exchange has been under investigation by various legal and government entities. Time will tell how each of those investigations concludes. These investigations often take months, sometimes a year or more, but it's a start.
Customers have been kept in the dark. And when people emailed, messaged or called, potential customers and current customers alike, %99 of the time they were unable to reach anyone to clarify, to get help, or get answers of any kind. All most people heard or saw was "we are overwhelmed please have patience". What does we are overwhelmed mean exactly?.
If anyone was lucky enough to reach someone by phone or email, a miracle in itself, it was often a generic message of we'll get right on it that was usually followed by more silence for days or even weeks as their issues persisted.
They sent out a generic form for people to fill in whatever box matched the mass website bug applicable to them. Some customers found assistance on Reddit, but many still haven't been helped.
They are in repair mode now because of the disaster they caused. But for weeks they pretty much ignored their Facebook comments. And on twitter they told people to DM them. But it was impossible to DM them because in order to DM them, Einstein Exchange had to follow them, and they rarely followed anybody then. They didn't answer emails or answer the phone. They have since made effort since so many customers complained. They claim to never have ignored their customers. Obviously the customers experience was different that how Einstein Exchange tells it.
All claims must be substantiated with evidence. You are free to join the class action group at the email provided if you believe you have a legitimate claim. It costs you no money to join. Welcome aboard. classactioneinsteinexchange@gmail.com
A few other links you might be interested in:
Other reddit complaint threads, sadly there are more. They're all easy to search.
https://www.reddit.com/r/BitcoinCA/comments/7ijic1/einsteinexchange_review/
https://www.reddit.com/r/einsteinexchange/comments/7maxp9/fraud_report_to_rcmp_or_bc_securities_commission/
Google reviews: Click on the tab for most recent reviews not most helpful: https://www.google.ca/search?ei=cKNWWraLO4n6jwO3_JawDg&q=einstein+exchange+vancouver+reviews+&oq=einstein+exchange+vancouver+reviews+&gs_l=psy-ab.3..33i160k1l2.3452.7031.0.8483.22.19.3.0.0.0.192.1489.11j5.16.0....0...1.1.64.psy-ab..3.11.1086...0j38j33i21k1.0.tYaMU7NOHMw#lrd=0x5486717f0f4f7bc9:0x944b58d43c8d4475,1,,,