I decided to dig into the network behavior of Bexbc after my funds got stuck. As a dev, I wanted to see if this was a blockchain congestion issue or something server-side.
The results were concerning. When you click "Withdraw" on Bexbc, there is no interaction with any public blockchain node. It merely sends a POST request to their internal API, which returns a status of "Review."
There is no transaction hash (TXID) generated. This suggests that Bexbc is not running a real exchange wallet structure for users. It is a centralized ledger where the admin manually approves or denies requests. In my case, the denial was accompanied by a request for more funds via chat support. Technical conclusion: This is a "black box" system designed to mimic an exchange without the actual utility.
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