To: Law Enforcement Agencies, Financial Regulators, and the Global Cryptocurrency Community

We, the undersigned, call for an immediate and thorough investigation into the activities of XeggeX Cryptocurrency Exchange (www.xeggex.com). Recent developments have raised significant concerns regarding the security and management of user funds, leading to substantial financial losses for numerous investors.

This petition is directed to financial regulators and law enforcement agencies, including:

• UK Financial Conduct Authority (FCA)
• Action Fraud UK (National Reporting Center for Fraud)
• Europol / National Cybercrime Units
• United States Securities and Exchange Commission (SEC)
• United States Federal Trade Commission (FTC)

Our goal is to push for an official investigation into XeggeX’s activities, ensure transparency, and seek justice for affected users.

Background

• February 3, 2025: XeggeX announced that its CEO’s accounts were compromised, resulting in the loss of access to the exchange’s Telegram group. The company claimed that it had secured user funds by locking down wallets and disconnecting the database for security reasons.
• February 4, 2025: The exchange reassured users that funds remained safe, while still failing to provide access to withdrawals or a clear resolution.
• February 6, 2025: XeggeX reported ongoing efforts to restore backups, dismissing fraud accusations as “conspiracy theories.”
  Despite these reassurances, all users remain unable to access or withdraw their funds, raising widespread concerns over the exchange's legitimacy.

Connections to Previous Fraud Allegations
Altilly Crypto Exchange – A Recurring Pattern?

XeggeX's business director, identified as "Mike" on the exchange's official webpage with the Telegram username "MrMike_O," appears to have been previously associated with Altilly Crypto Exchange. Altilly reported a security breach in late 2020, claiming that hackers compromised their servers and deleted critical data. Following the incident, Altilly initiated a refund process for affected users. However, reports indicate that while some assets were refunded, many users did not receive their funds, leading to allegations of a potential exit scam. Discussions on platforms such as Bitcointalk.org highlight user experiences and skepticism regarding the refund process. Additionally, records from the UK Companies House list Mike J. O. as a director of XeggeX Software Services Ltd, suggesting a possible connection between the individuals involved in both exchanges. This raises concerns about a potential pattern of fraudulent behavior.

Company Incorporation Discrepancies
XeggeX’s official website claims the exchange was founded in 2021, yet according to UK Companies House records, XeggeX Software Services Ltd was only incorporated on June 2, 2023, and dissolved on December 31, 2024.
This raises serious questions about the company’s transparency, history, and whether it was operating under misleading pretenses.
Official records can be accessed here: XeggeX UK Registration Details

Demands

1. A Full Criminal Investigation – We urge law enforcement agencies and financial regulators to investigate XeggeX’s leadership, financial transactions, and past affiliations to determine if fraud has taken place.
2. Immediate Fund Recovery – If XeggeX’s claims that "funds are safe" are true, then all affected users should be given immediate access to their funds.
3. Regulatory Oversight – Authorities must enforce stricter regulations to prevent repeat incidents of fraudulent exchanges deceiving investors.
4. Public Accountability – XeggeX must publicly disclose verifiable proof of its financial health and the status of locked funds.

Conclusion
The cryptocurrency industry relies on trust, security, and transparency. Incidents like XeggeX’s shutdown undermine confidence in digital asset exchanges and expose the risks of unregulated platforms.

We demand immediate action from authorities to investigate, recover funds, and prevent further fraud.