Blockchain Exchange holding my funds (1.25 BTC) hostage for 45 days already

CRAIC

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Quote from: GekkeBelg on June 29, 2023, 05:59:00 PM

Good news: after 2 months and 8 days of waiting, Blockchain Exchange finally sent me the funds. I will never use Blockchain again, let that be sure!

This was their comment:

Quote

Due to a breach of our terms and conditions, your account has been suspended. The funds have been refunded to the crypto address you have provided and the account holds no custodial funds.

Unfortunately, we are not able to provide any details about individual applications or specific reasons for rejection. We apologize for any inconvenience this may cause.

thank you for sharing the news with the public

otherwise I thought that this platform was completely scam

Woodie

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In the world of fiat thought PayPal were bad , but even if they hit you with suspicious transaction checks atleast they give user back your funds and deny you further access just to have a win win situation.

But with our crypto exchanges, it's a whole different story as this always turns out to be some kind of hijack and hide behind their terms and conditions to justify their action's...but as a user whose caught up in this ,best option is to give them what they want and once your account is in the clear withdraw and never go back to such jokers!!!

Just hope this is some "shotgun KYC" or "ToS-scam" as eXch calls it

hosseinimr93

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Quote from: shield132 on October 08, 2023, 01:22:58 AM

Does anyone know what will happen if I deposit coins on blockchain.com wallet and then I receive a message that my funds are locked?

OP's issue is with blockchain.com exchange, not their wallet.
If you have fund in blockchain.com wallet and you can't spend it for any reason, you can import your seed phrase in other wallets and spend your fund.

Due to obvious reasons, I don't like blockchain.com wallet and I would recommend anyone to avoid their service, but their wallet is non-custodial and as mentioned by LoyceV, it gives you access to your private keys.

LoyceV

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Quote from: shield132 on October 08, 2023, 01:22:58 AM

Does anyone know what will happen if I deposit coins on blockchain.com wallet and then I receive a message that my funds are locked?

A wallet gives you access to your own private keys. That means a wallet can't lock your funds (other than doing it yourself, like clicking "Lock unspent" in Bitcoin Core). So if blockchain.com can lock your funds, it's not a "wallet". It's a custodial (or exchange). Know the difference, and use a real wallet so you don't have to worry about this.

shield132

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Does anyone know what will happen if I deposit coins on blockchain.com wallet and then I receive a message that my funds are locked? Does this deposited money goes in their pocket or are they obligated to donate confiscated coins to government?

By the way, this is for anyone who is going to use blockchain.com wallet. I created BC wallet in 2016 or 2017 and one of my wallet become problematic immediately. When I was logging-in, I would receive email to confirm my login but when I would click on confirmation, it was writing it's successful in green colors but wallet still couldn't load and then there was an error message. I don't know why that could happen but since that day, I think their system doesn't work well technically and it's very dangerous to even use them.

DaveF

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Quote from: NotATether on September 15, 2023, 10:17:59 AM

But they can just say in their FAQ: "The LoyceV casino and the DaveF exchange are on our list of banned platforms." Why the secrecy?

If Blockchain.com comes out and says the NotATether mixer will not be accepted for transaction sending and receiving, I can't force them to reverse their decision.

(Yes, old reply, but Blockchain is not going away anytime soon.)

Doing it this way allows them to do whatever they want without having to deal with changing any of those pesky ToS and allowing people to opt out / leave.

This way they can just flag stuff internally and not worry about other things.

Something...something....oh yeah...NOT YOUR KEYS NOT YOUR COINS.

-Dave

NotATether

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Quote from: DaveF on July 07, 2023, 08:19:23 AM

Quote from: LoyceV on June 30, 2023, 04:59:05 AM

Quote from: GekkeBelg on June 29, 2023, 05:59:00 PM

This was their comment:

Quote

we are not able to provide any details about individual applications or specific reasons for rejection.

That's a lousy excuse.

It's probably a legal thing.
If they come out and say that they don't trust the LoyceV casino or the DaveF exchange or whatever, that puts them in the position of having to defend their view and the potential liability of whoever coming after them for defamation or some such crap. Easier to just say we can't tell you.

But they can just say in their FAQ: "The LoyceV casino and the DaveF exchange are on our list of banned platforms." Why the secrecy?

If Blockchain.com comes out and says the NotATether mixer will not be accepted for transaction sending and receiving, I can't force them to reverse their decision.

(Yes, old reply, but Blockchain is not going away anytime soon.)

LoyceV

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Quote from: DaveF on July 07, 2023, 08:19:23 AM

Also, if they made a mistake and the funds did not come from where they thought they did then they don't have to justify it.

That's why I called it a lousy excuse. If they made a mistake, the honest thing would be to admit it, apologize for it, and learn from it.

DaveF

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Quote from: LoyceV on June 30, 2023, 04:59:05 AM

Quote from: GekkeBelg on June 29, 2023, 05:59:00 PM

This was their comment:

Quote

we are not able to provide any details about individual applications or specific reasons for rejection.

That's a lousy excuse.

It's probably a legal thing.
If they come out and say that they don't trust the LoyceV casino or the DaveF exchange or whatever, that puts them in the position of having to defend their view and the potential liability of whoever coming after them for defamation or some such crap. Easier to just say we can't tell you.

Also, if they made a mistake and the funds did not come from where they thought they did then they don't have to justify it.

But, it's blockchain.com and they have never been user friendly.

-Dave

khaled0111

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Quote from: GekkeBelg on June 29, 2023, 05:59:00 PM

..

Don't know what term you violated or if you have violated one at all but the good thing is that they let you withdraw your money, although they suspended your account.
OP, you made the right call by deciding to never use their services. I hope more members read this thread to understand why they need to be cautious when using centralized exchanges and why they need to store their coins on their own wallets.

RickDeckard

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Quote from: LoyceV on June 30, 2023, 04:59:05 AM

Quote from: GekkeBelg on June 29, 2023, 05:59:00 PM

This was their comment:

Quote

we are not able to provide any details about individual applications or specific reasons for rejection.

That's a lousy excuse.

Let this be another example where CEX's can do whatever they want with their users funds. OP may have not comply with the CEX's terms, but at least they could have given him a reasonable justification for withholding his funds for more than 1 month. CEX's can't stop surprising me.

LoyceV

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Quote from: GekkeBelg on June 29, 2023, 05:59:00 PM

This was their comment:

Quote

we are not able to provide any details about individual applications or specific reasons for rejection.

That's a lousy excuse.

tabas

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Quote from: GekkeBelg on June 29, 2023, 05:59:00 PM

Good news: after 2 months and 8 days of waiting, Blockchain Exchange finally sent me the funds. I will never use Blockchain again, let that be sure!

This was their comment:

Quote

Due to a breach of our terms and conditions, your account has been suspended. The funds have been refunded to the crypto address you have provided and the account holds no custodial funds.

Unfortunately, we are not able to provide any details about individual applications or specific reasons for rejection. We apologize for any inconvenience this may cause.

Good riddance.
I've tried to use it before but good thing that I've got difficulty on using them so that's a blessing as disguise for me. And since everything has been refunded to you and you're happy even though it took 2 months for you to have that refund, this thread has served its purpose so it's best for this topic to get locked.

GekkeBelg

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Good news: after 2 months and 8 days of waiting, Blockchain Exchange finally sent me the funds. I will never use Blockchain again, let that be sure!

This was their comment:

Quote

Due to a breach of our terms and conditions, your account has been suspended. The funds have been refunded to the crypto address you have provided and the account holds no custodial funds.

Unfortunately, we are not able to provide any details about individual applications or specific reasons for rejection. We apologize for any inconvenience this may cause.

Z-tight

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Centralized exchanges can confiscate your funds if they decide to, it is even in their terms of service that sadly nobody reads. This is a very frustrating position that op find themselves, but nothing can be done about it, they have confiscated your money like we have said they can do so many times on this forum.

Op, if you manage to get your money out of there, use p2p exchanges like Bisq for trading, but if you want to trade on centralized exchanges, be careful with the amount of money you deposit at once or the source of it, BTC is censorship resistant and permissionless and all of these doesn't matter if you are trading on-chain, but once you are dealing with centralized exchanges, they control your money and it matters to them.

yhiaali3

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Unfortunately the complaints on Blockchain.com have been increasing day by day lately, I don't want to blame you for putting all that money in a web wallet or a central exchange because that doesn't work anymore.

But in general you have to wait this is the only option you have, they are holding your money now and you can't do anything if they ban you. This is why we always say that people should not put their money in centralized exchanges or just put trading money and hold the rest in a noncustodial wallet.

BitMaxz

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BTC price road to $80k

Blockchain is also known have poor support I heard someone before that their BTC was stuck on Blockchain exchange it takes 5 months before he got his BTC back but even if they give the BTC back the price of BTC is already dropped so much.
My guess is they are going to do the same to you before they give you access or solve your case and can withdraw the BTC.

That is why I don't hold BTC in some exchanges it is not good for holding BTC there unless you are actively trading a small amount and then diversify them to reduce the risk.

tabas

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I can't believe when they've got the tagline of "Be your own bank" and then asking these questions from someone that has deposited a lot on them. Well, maybe they're just complying to what has been placed on them upon building this exchange as regulators what have told them to follow.
@OP as said by the majority in here, no one can help you out with this pending transaction of yours. So clear all of those what they're asking and wait until they verify all of those requirements and answers you've provided them. I know it's a pain in the ass but that's how this will go, until you're able to withdraw your money from them, never use them again and anything that's related to their service including their own web wallet.

khaled0111

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Quote from: hosseinimr93 on June 06, 2023, 02:27:45 PM

Take note that blockchain.com isn't a custodial wallet. Their wallet is non-custodial and gives users access to their private keys. Of course, I would never recommend anyone to use it.
OP's fund is now in blockchain.com exchange, not their wallet.

If I'm not mistaken then blockchain's exchange is a custodial service unlike their wallet's service, right! In this case OP will not be able to withdraw/move his funds without their approval!
OP, all you have to/can do right now is to comply with their requirements. Since you have deposited from licensed gambling services, then you need to provide proofs of deposits, bets history, withdrawals.. to/from the gambling platforms. If it's a licensed one then I suppose you'll be fine and you'll be able to withdraw your coins with no issues.

joniboini

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Quote from: GekkeBelg on June 05, 2023, 09:27:53 AM

And do you have any advice for me who to contact to speed this up?

I second the suggestion to make noise on social media, especially contacting social media influencers/content creators. If your story can help them make content they'll definitely use it to their advantage. I believe you're not the only one who got similar troubles so you can probably ask others to make posts about it. Not sure who to contact for this kind of thing though. Anyway, if history tells us something, when a company faces a possibility of a PR nightmare their support suddenly become so much faster.

Topic: Blockchain Exchange holding my funds (1.25 BTC) hostage for 45 days already (Read 454 times)