Exchange KYC Scam?


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Being a cryptofan, trader and everything related and watching a lot of Youtube videos about it, one particular video came into our attention from’s Youtube channel, namely this one about “Bitcoin Cash 51% Attack Claims are Blatant Fake News where we do understand this kind of things happen, one party spreading fake news about the other party and vice versa, if that’s even the case or truth.

Reading the comments posted on this video, we noticed a big and stuffy comment with screenshots proof etc from one user claiming’s Exchange practice KYC(know your customer) Scam. Sounds a little bit strange?

Usually most exchanges ask for KYC at a certain point except for’s Exchange who asks for KYC documents based on the amount you want to withdraw (meaning if you deposit cryptocurrency in their exchange system and trade you don’t need to KYC but only when you want to withdraw), they have 3 types of accounts:

    1. Individual – you just need to verify your email, 2FA and you can withdraw up to 34 BCH or 1 BTC per day or 170 BCH or 5 BTC equivalent per month. 
    2. Individual PRO – besides mobile and email verification you need to send them your KYC documents (ID, proof of address, etc) to be able to withdraw up to 3400 BCH or 100 BTC equivalent per day with no monthly limits.
    3. Institutional – for companies and corporations.

The user reporting this possible KYC scam claims it wanted to withdraw below 1 BTC and it got KYC-ed despite’s exchange rules saying you get slapped by KYC in the face only if you want to withdraw more than 1 BTC.

Below we will display a screenshot with the entire comments from both parties, the user and representatives.

Youtube Screenshot


Below is a copy paste of the comments with the links clickable:

Hello User. Thank you for your post, however, please provide a bit more information on your claim. I searched the ‘Term and Conditions’ of using the exchange and could not find anything about what you are saying. Please see attached link for your perusal: – Official Channel Hi, thanks for your reply, finally, i had to post this comment on your last 10 videos about this to get your attention. I want to counter your feedback with the true fact that YES you are right in your Terms and Conditions its not showing this KYC scam, it shows after i register, verify my account and 2FA, and ONLY after i deposited around ~ 0,3BTC and wanted to withdraw back my account got frozen and i was forced to KYC for no reason because i wanted to withdraw, here you can see your own rules in this screenshot In this screenshot you can see your rules where it says clearly you don’t need to KYC if you want to withdraw a maximum of 1BTC per day, which in my case was 0,3BTC one time only.
In this screenshot you can see my conversation with Jax where he tells me i have to KYC to get my account unfrozen but for no particular reason because it was my very first account on , so i feel i got scammed and forced to KYC right after i deposited and wanted to withdraw and not after i registered the account and started to explore it. You cannot invoke those reasons you see in the screenshot with no solid proof he never shown. In this screenshot i did KYC just to get passed this nonsense and withdraw. In this screenshot you can see i did a request for DELETION + delete my KYC data based on European GDPR laws because i don’t want to be a part of any exchange where from the beginning i get scammed by. (even though to be honest, i wanted to exchange my BTC to BCH but after i’ve seen i have to pay 70euro to exchange 0,3BTC at that time somewhere in March 2020 i said forget it and i wanted to withdraw back and exchange them to fiat, and to buy BCH with fiat after because BTC is dead to me because its very slow and has gigantic fees, so yeah here you do a good job with BCH but you pissed me off with your KYC scam). In this screenshot you can see Jax claims the account is deleted but i counter it with the fact after i try to login on it asks me for the Authentication code, after i put the code it redirects me to the account disabled page you can see in this screenshot . I asked to delete my account and KYC data and GDPR data but they just disabled my account, and after i contacted on their chat many many times and waited hours because they rarely reply or totally ignore you, they still didn’t delete my account and i wonder why? Here you can see how hard it is to chat with them via their live chat in this screenshot , this conversation via live chat was like 1 week ago, in the middle of April 2020, always arrogant in their replies, this is not how you treat your clients or customers or bitcoin friends. I wanted to publish PRs about this by the end of this week but you replied on Youtube finally so maybe you can also answer why i’ve been trough all of this. Thanks in advance.

By the time we publish this article there was no reply from’s representatives on the above mentioned Youtube video.

If one or both of the parties concerned want us to update this article or possibly publish another one, send your thoughts here:

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