BitMex demanded KYC documents. - page 2.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18775

As far as centralized exchanges go, anything that prevents them from sticking their noses where they don't belong (such as CoinJoins) automatically triggers their "suspicious activity" algorithms and demands KYC.

You won't be in trouble legally, since there will be no way to prove if the funds you deposited were linked to darknet markets, and even if they were, if it was you that was using them on the darknet. What will happen is that your BitMex account will be locked and your coins will essentially be confiscated. If they like your KYC, they might unlock your account. If they don't like it, they will keep your coins and there will be next to nothing you can do about it.

Quote from: mk4 on August 14, 2020, 06:26:43 PM

Imagine the outrage when Binance finally enforces AML/KYC.

Better that they start being honest and saying that they will demand KYC from everyone, rather than falsely advertising their "2 BTC a day unverified accounts", and still slapping KYC on anyone who dares to do something shady such as log in from two different IP addresses. Roll Eyes

Wexnident

hero member

Activity: 2758

Merit: 675

I don't request loans~

https://decrypt.co/38626/bitcoin-exchange-bitmex-is-adding-kyc-for-all-its-users

I suppose they consider mixers as the darknet now? Or just simply an excuse to slowly integrate its users with KYC. Still, it was already inevitable anyway, since starting August 28, you'd have needed to comply with their KYC procedures, which hell, as they said:

Quote

During the ten year span of cryptocurrency activity, there has been growing pressure on crypto companies to adopt KYC and AML regulations, both commonly used in the traditional finance space. Even libertarian-run exchange ShapeShift eventually conceded to regulators, and now BitMEX is falling in line too.

Since you used mixers, I doubt you'd be in trouble and since you yourself said that it came from a reputable source, then that's that. I suppose you might want to just comply with them since you're gonna have to later on so that you don't lose your funds stored in there, as well as saving you the hassle of doing more KYC later.

mk4

legendary

Activity: 2940

Merit: 3883

📟 t3rminal.xyz

KYC on BitMEX and centralized exchanges in general are pretty much inevitable. Heck, even the so called "DEXs" like IDEX(even if they're really not decentralized) aren't safe from government intervention. It's just a matter of when they're going to be implemented and enforced. Imagine the outrage when Binance finally enforces AML/KYC.

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

https://www.crowdfundinsider.com/2019/09/151096-wasabi-wallet-user-arrested-for-handling-bitcoins-from-serious-crime/

There are lots of reasons why Wasabi's wallet and all transactions coming from it will be in question and asking for some information about the transfer. May the KYC demand imposed by Bitmex is also a way to track you and might hold your account.

Of course, nobody would say that it is coming from any form of illegalities but having used this wallet, it gives them a reason to think about it. Even though you are telling the truth, KYC has been one of their request in order to accomplish your transaction.
Well, giving you have no option to take it either to continue moving it and submit your KYC or just leave it there.

BitMaxz

legendary

Activity: 3500

Merit: 3249

Happy New year 🤗

I heard that the Wasabi wallet was monitored by Binance exchange, so there's a big chance that Bitmex might also watch wasabi?

Check this source: https://decrypt.co/15435/is-binance-monitoring-withdrawals-to-wasabis-bitcoin-wallet?utm_source=reddit&utm_medium=social&utm_campaign=sm

So I think your transactions were tracked, and it can lead to account suspended/freeze.

Look at this "Binance freezes BTC linked to Wasabi CoinJoin and asks invasive questions"

So you might be at risk because Bitmex might be also know that you use coinjoint from Wasabi wallet.

Natalim

hero member

Activity: 3164

Merit: 611

BTC to the MOON in 2019

Quote from: famo457 on August 14, 2020, 04:26:58 PM

~snip~

I used the bitcoin mixer Wassabi and another mixer and then I deposited the funds to bitmex to trade since the bitcoin price was moving fast. Source of money is indeed legit, reason I used the mixer is to avoid a exchange to track where I spend my damn money at because that's a privacy fuckery.
my thoughts is the mixed outcome is source from darknet? are these funds illegally obtained and just got assaigned to me? I am in trouble?

Now you can't anymore keep your privacy as they demand you to comply the KYC requirement,

Looks like it has come early to you, Bitcoin exchange BitMEX adds KYC for all its users

Thought it will start in 2021.

Quote

Bitcoin futures exchange BitMEX will require its users to verify their identity by February 12, 2021.

By requesting a KYC to you it doesn't mean you are doing illegal activities, it's just part of the protocols they have, you are not in trouble as long as you are not doing something illegal.

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

https://www.coindesk.com/bitmex-to-mandate-identity-verification-for-all-traders-amid-evolving-industry-regulations

Bitmex is bringing it in for everyone at the end of the month anyway so even if this hadn't popped up you would've been hit with it.

I don't know about Bitmex's feelings, but other exchanges have been rejecting coins mixed through Wasabi. Unlike other mixers they are completely identifiable as mixed. It won't necessarily be that you got 'hot' coins, it may well be that they know they're mixed and they want you to demonstrate they're not 'hot'. They have no way of knowing.

famo457

newbie

Activity: 3

Merit: 3

https://i.imgur.com/OfPkgrN.jpg

I used the bitcoin mixer Wassabi and another mixer and then I deposited the funds to bitmex to trade since the bitcoin price was moving fast. Source of money is indeed legit, reason I used the mixer is to avoid a exchange to track where I spend my damn money at because that's a privacy fuckery.
my thoughts is the mixed outcome is source from darknet? are these funds illegally obtained and just got assaigned to me? I am in trouble?

Topic: BitMex demanded KYC documents. - page 2. (Read 317 times)