Dear Users,

Recently, we have received reports of fraudsters promoting fake "arbitrage bugs" or "loophole investments." These scammers mislead users into depositing BTS (Bitshares) or other tokens into the ATOM (Cosmos) deposit address, claiming that these deposits will be automatically converted or credited as ATOM Tokens.

⚠️ Please Note: This is a scam.

⚠️ Scam Tactics Deciphered

• Exploiting Address Formats: Fraudsters exploit the account naming features of specific networks (such as Bitshares) to create fake wallets that mimic Phemex’s official deposit addresses to trick users.

• Inducing Transfers: Scammers use schemes like "system arbitrage," "automated profit bugs," or "cross-chain swaps" to lure users into sending funds via the Bitshares (BTS) network.

• Gaining Trust: After the initial transfer, scammers may manually send a small amount of ATOM to your account to simulate a "successful conversion," only to disappear once you invest a larger amount.

Phemex does not and will never support any kind of “automatic token conversion” or “cross-token deposit credit.” To protect your assets, please strictly follow the reminders below:

• Deposits must match the Token, Network, and Address: The asset you send must perfectly match the deposit information provided by the platform.

  • Example: If you wish to deposit ATOM, you must send ATOM via the Cosmos network — NOT BTS, Bitshares, or any other asset/network.

• Guide: Please refer to this FAQ document for the correct deposit procedure: How do I make a deposit? (Web)

• Do Not Trust Unofficial Promises: Do not trust anyone claiming you can deposit other tokens to receive ATOM. Official Phemex customer support will never privately message you or instruct you to deposit funds to an address through chat groups or DMs.

• Risk of Permanent Loss: Depositing unsupported tokens (such as BTS) or using an incorrect network will result in the permanent loss of your assets. Always double-check the token name, network, and deposit address before confirming any transaction.

• Follow Official Channels Only: Only use the Phemex official website or app to obtain deposit information. Never rely on details shared by third parties or unknown individuals on Telegram or social media.

🛡️ Official Verification Channels

If you encounter any individual claiming to be a Phemex staff member or suspect any fraudulent activity, please verify through our official channels immediately:

• Official Website: https://phemex.com/

• Customer Support Email: support@phemex.com

Thank you for your cooperation in helping us maintain a safe and trustworthy trading environment.

Phemex Team

February 25, 2026