Topic: Bitfinex locked my 500 BTC account and is asking for police report - page 2. (Read 351 times)

500 BTC was not wroth 3mil USD a couple years ago.


the main question is:

If you used cash to purchase the BTC, we will need to receive a proof of source of funds for the funds used to purchase the BTC.
A proof of sources of funds is any (collection of) document(s) that explains the origin of funds used for purchases of crypto currencies.



I did not use localbitcoins to buy my bitcoins with cash.
I went to a local bar here where bitcoiners met occasionally.

how I can prove the cash I used was obtained legitimately,if I also took money
from friends to buy BTC with cash?

I have access to my electrum wallet and to the transactions I did years ago
but no papers about cash withdraws and my friends investments...

Sounds like you're actually under investigation of some sort. Could be federal... be very careful with how you proceed. Obviously a transaction of that amount would need to be properly verified. If everything was ok you should be able to comply no problems. The fact that you can't give records on where you obtained 3 million dollars is alarming. You say you borrowed money for the bitcoins in 2015... wasn't that at least 100k for 500 btc back then? This is sus.

Bitfinex is one of the exchanges that do p2p margin lending. You could easily get a return of 10-20% pa on your coins if you invested them there.

What is a reason for not taking out your coins for so long time from this exchange?

Last year prices were so high so you never really try to take out any of the coins from your account?



Many people said this many times on this forum but still, we see now and then this kind of issues. Not sure why people use exchanges like a wallet to store coins.

I think it must have something to do with this.


From reading the email Bitfinex sent they are not convinced the OP is the rightful owner of the account. If I'm reading the OP correctly they are either trying to recover a hacked account/lost password or they did that earlier and now Bitfinex has become suspicious about it.

i didn't realize that bitfinex had taken bullshit KYC to bitstamp's level. source of funds? bitch, please! it would be one thing if they locked your account because of a law enforcement inquiry. since your inability to log in triggered this, it looks more like they are just making it unreasonably difficult to recover your funds.


either there is some miscommunication, or i am missing something.

why are they treating this as a compromised account? you're not saying your account was hacked (and funds stolen), so why are they asserting that and requiring a police report?

This is what's hard on personal loans, it's typically not documented 

I'm not sure about this but maybe both parties could still make a loan agreement even if the loan's already over, is it though?.
Anyway, you can try asking bitfinex regarding that matter, explain that it's a personal loan etc.. ask them if it's still okay to make the agreement?
And yeah don't forget to also ask if you could DIY that or is it still needed to consult a lawyer.

Did you arrange those trades through localbitcoins?

Simple lesson to be learnt again here, regardless what really happened, never leave any coins on any exchange.

-the 500 BTC were acquired a couple years ago
-they were deposited 2015 into bitfinex
-bitfinex account , wanted to use it only to sell&buy BTC online, no bank withdraws
-I also used funds from my friends to buy bitcoins with cash locally

the difficult part is how I can prove the cash I used was obtained legitimately,if I also took money
from friends to buy BTC with cash?

I have access to my electrum wallet and to the transactions I did years ago
but no papers about cash withdraws and my friends investments...

title: " Bitfinex locked my 500 BTC account and is asking for police report "


Name: whyisthishappening
Posts: 1
Activity: 1
Merit: 0
Position: Newbie
Date Registered: March 26, 2018, 05:32:59 PM
Last Active: Today at 08:11:37 AM

This is a very interesting story, I confess that when I read this title I said wow what the hell is the thread I'm reading? so I read your story many times and some things I did not understand (I'm sorry, I'm a dumb dude)


if your account was verified they would not ask you to verify your account again and how could it be possible that you had lost a password for an account that contained 500 btc and only today that you come to complain?


as I said: its history is very interesting.


hire a lawyer and report your case to the police

https://www.bitfinex.com/team

Bitfinex

Founded: 2012, Hong Kong
Headquarters: Hong Kong
Founders: Raphael Nicolle, Giancarlo Devasini

Wow, they really want to make the process as impossibly difficult as possible, putting up wall after wall after wall for you to scale and go through. And tall well-greased walls they are.

For 500 btc I would comply. Do all you can to give them what they want. For anything else you can’t provide, draft an explanation in legalese language and engage reputable lawyers to prepare these documents with their official letterhead on every page.

To maximize your chance of a successful retrieval of your coins I strongly advise and suggest that you let lawyers handle the communication work with Bitfinex.

bitfinex asked me to do a complete verification after I lost access to my account a while ago.
I submitted all my documents and got verified.

my account contains over 500+ BTC ,acquired a couple years ago.
I have full access to my electrum wallet where all incoming transfers were issued from.

now they sent me the following by email:


*************************************************************************
Hello 'my name'
....
Please provide a police report for the compromised Bitfinex account and compromised email address. If you do not have this, you will need to file one still. Send us the report and the contact details of the responsible Law Enforcement investigator.

Please disable the VPN connection and access your account using your own internet connection.

We will need you to have your ID documents verified by a Notary Public. The Notary Public has to verify your identity, and he or she needs to provide a signed and dated statement in which he or she will confirm:
1). Your full name, date of birth, and place of birth.
2). Your current address.
3). That, the person appearing before her or him, is the same person as an official ID / Passport is presented for;
4). That the Passport / ID presented is authentic and valid.
5) That the document is provided in order to confirm you are the owner of Bitfinex account [email protected]

The document will need to contain the contact details of the Notary Public. Send a scanned version of the notarial document in an attachment in a reply to this email.

If you used cash to purchase the BTC, we will need to receive a proof of source of funds for the funds used to purchase the BTC.
A proof of sources of funds is any (collection of) document(s) that explains the origin of funds used for purchases of crypto currencies.

Examples of acceptable forms of documentary evidence are detailed below:

Personal savings

   Personal bank statement(s) demonstrating deposit/gifted monies

Employment income

   Personal bank statement(s) demonstrating deposit monies, wages and tax statement

Gift or inheritance from a third party

   Documentary evidence from the donor (bank statement), copy of will

Sale of investments

   Statement from investment provider or bank statement showing settlement from investment provider

Sale of property

   Signed letter from Solicitor/Advocate or Estate Agent or Contract of Sale statement

Loan

   Loan agreement or statement

Insurance Claims

   Letter from Insurance provider

Dividends or profit from the company

   Latest audited company accounts statement

Lottery/Gambling win

   Evidence from the lottery company/winning receipt

Cryptocurrency mining    Details on the mining pool used combined with blockchain transaction IDs and addresses that confirm when the assets were mined.

Please provide a full description of Blockchain Transaction IDs of the individual purchases and addresses of where the purchased BTC were received on. Provide transaction IDs and addresses that describe exactly how the BTC bought with cash were transferred from the original addresses up to the point they were deposited to Bitfinex.

Kind regards,

xxxxx
Bitfinex.com
[email protected]


*************************************************************************




Are they allowed to request all these information's from me?
I can file a police report and get my documents notarized
-but I maybe have trouble to provide detailed transaction data from the past when I purchased my bitcoins with cash locally.
I may not be able to recover this data, except my electrum wallet data.

any advice?