Topic: Do the big KYC exchanges care where your coins come from? - page 3. (Read 647 times)

yeah that's most likely the case.

but OP just mentioned a bridge and Blofin, as far as I know, Blofin is relatively new exchange, I've heard this one just recently but never realy looked into it too deeply. I think if truly where OP's money coming from is just from bridge or exchange like blofin, he'll be fine.
I think OP can just try to read the T&C of the exchange and see what kind of rules they imposed, as some exchange might be "quirky" in that regard.

best solution would be, as you said, send small money first and test the water. most KYC exchange usually have no problem getting deposit from smaller exchange like blofin though as far as I know.

It's not about how big or small the KYC exchanges, but any centralized exchanges are actually care where the coins come from especially if you deposit a lot. If you don't want an exchange that care with the source, you should use no KYC P2P or DEX which you can find on kycnot.me

Many countries and exchanges have banned Monero, if you think Monero is the future, the government already killed the future.

I just realized I still had pictures of what am talking about, you can see it above. Actually i didn't have any idea that the deposit was going to come from that source, I just filled the form accordingly.

Exchangers do have that specific rule and regulations about funds on which where these came from but so far i do send out some funds that came from gambling sites on which turned out to be that one of the prohibited sources on which you could be able to pass on, but so far i havent been able to experience some problems in regarding about getting locked or having that failed withdrawals due to some issues. This is why i do highly believe that this might really be just that only applicable or into those people who do make out some big deposits that do caught their attention? Pretty sure that there are really those depositors that do came from illegal sources or origin but able to pass by because the amount isnt really that significant on which it wont really be ble to turn up the alarm of such exchange.  . Im not saying that they do have that kind of shady behavior on trying out to choose those big deposits but it cant be denied that it is really that somewhat they do need to verify on where those funds came from specially if its already that too big. They will really be trying out to trace up everything as much as they could and if they havent seen something that violates their TOS then you do able to pass but if there's something wrong then expect that you will be able to face up some issues.

The fact that you are asking such a question indicates that you have doubts about the origin of the coins in your wallet. And since you have such doubts, it is better for you to refrain from transferring such coins to CEX. But if you can't do without CEX, then you should try transferring a small amount from your wallet and see how the exchange reacts to this.

Exchangers typically don’t care much about where the funds come from, but the moment they spot something suspicious, it grabs their attention. In recent years, mixers have been at the center of discussions about fraud and illegal activities. Because of this, they’ve earned a suspicious reputation, especially when you use the platform you deposited funds into as a converter too. For example, if you deposit, trade, and immediately withdraw the funds, it raises red flags.

To them, this is the normal doing of “scammers” or someone trying to hide their transactions. And let’s be real—many people do this, which is why it’s become such a hot issue. Large exchanges, especially those complying with government regulations, don’t let it happen ruining their reputation, as they have been working it hard for many years. 

Yes, they care and won't hesitate to lock your account. This X user's experience gives a typical example. Binance locked her account when she received Bitcoin from a friend. Here friend's account was also locked too.

they do care but they aren't as "caring" to the small shrimp compared to those whales with millions in their account, they usually only freeze account with millions of USDT and the time taken to resolve this one simple thing usually takes months.

if you go on twitter you'd see plenty of people suddenly getting locked out of their fund and mostly it's 100k++ and things left unresolved for months even years.

personally I believe the exchange don't really care if it's just about $100 - $500 and have seen fewer cases of people getting locked out of their account for that measly amount.

but as usually, if you're so scared of getting your money locked, just store it somewhere else maybe use hardware wallet.

Unfortunately, it happens. The dirty concept regulatory bodies are mandating is simply flawed. For instance, someone could always send mixed coins to your CEX deposit address which potentially could ring their alarm bells. In addition, we don't know how far in the money trail are they looking at.

Best you can do is lessen the risks as much as possible. I believe you've gotten enough advises for it.

Also, I've never heard of veil.exchange. Best to stick with reputable platforms for extra safety.

None of my coins are stolen or shady, the only thing I ever did “wrong” was to use this DEX called Veil.Exchange.

The exchange don't care for that moment but as soon as the destination wallet report your wallet address for stealing of funds or comprises, they will seize the funds immediately if you haven't used or withdrawal the money and if you have withdraw the money before the report, you account will be suspended with all your information given to law enforcement to track you down, this is the main reason why they ask you to do KYC verification in the first place.

If you are using a centralized exchange to deposit and withdraw funds, try as much as possible to make sure that your funds are clean as possible, if they accept mixed funds which I'm don't they would, mixed your coins before you deposit them to exchanges and if they don’t, don't try it. Rather, make use of decentralized exchanges to swap to other assets and then you can send it after to centralized exchange where you wouldn't have any problem later.

I think they care; the best thing to do is to avoid centralised exchanges. Anytime you want to receive a big amount of money you have not received such an amount before, you should use DEX when receiving that kind of huge amount of money to avoid complaining too much, because if you receive an amount of money that you have not received before or anything related to fraudulent activity, even if not fraud, they will think that is what it is, and they may request some information that you personally won’t wish to give, but because of the money that is in there, you must bring out some of your details to get access to the money. 


To me, asking for the source of money is not bad; you know there are many ways where huge amounts of money will enter someone's account, maybe from a casino or business or something related to that, not only fraud. They are not asking to know whether it is fraudulent money or not but just to be sure where the money is coming from, and I feel like it is a good thing, and also they are securing their reputation, which is not bad. 

So what did you do after? Did you tell them? And why won't you anyway, right? Lol. For some, they might only lie if the the truth is that it came from illegal acts, or a known criminal have sent you that, in exchange of some works. We are lucky if we will get an exemption and we might be extra careful next time. This is why reading before using a service is also important, so that we won't get screwed, especially if we know to our selves that we are not 100 percent clean. I see that casino is also in the restricted list but actually, many casinos now requires a KYC. So it would be better if they can now give an exemption to the most of it.

Is it that complicated? I thought some exchanges are not that complicated when it comes to filling in information about where the funds came from, or the sender's information.
Because some people might send from their own personal wallets to the exchange for trading purposes. Or gamblers who withdraw from casinos and convert it to fiat.
Actually, the exchange has the right to know the source of funds through the KYC process which is indeed required.

Exactly yes, I have my local exchange market called "Tokocrypto" require KYC for trading, deposit and withdrawing fund take care when depositing big fund where are coins come from. I don't know how stupid regulation with my local exchange every bigger fund depositing you must fill form and required needed from where are fund come from, who is the sender until where are the sender address?

Need more patience progress needed for every bigger fund deposit in my local exchange where ever deposit from CEX wallet or exchange wallet you must fill the sender data detail. I don't know how to make easy because withdrawing cash from my crypto assets need convert at local exchange due aware by using P2P transaction.

Yes, exchanges do care about the source of your funds, and if you are flagged as a high risk customer they could block your account and ask you to tell them the source of those funds and to prove its origins, and if you cannot do it then you are never going to recover your coins, so be very careful when dealing with exchanges, as sometimes even if you have done nothing wrong, you could be forced to go through this process and it can take you quite a while to get your coins back.

I explained the origin of the transaction and stated it that I was not aware that it was going to come from a source that is forbidden by them. From that same note, it was stated that "another deposit from the address will lead to account restrictions."

So how did you explain it.  I think I should
Be okay as my wallet didn’t originate from a mixer, but one of my wallets connected to it sent stuff to what seems to be a mixer.  So it was outgoing only not into the wallet.  The exchange is veil.exchange

Some exchanges, such as Kraken Germany, also do not allow the deposit of privacy coins such as Monero (and a large number of other coins). I assume that other exchanges will follow the example of Kraken Germany and also prevent the deposit of Monero.

Of course, you can still trade Monero on a DEX for BTC/USDT/... and then deposit them on the respective exchange.

This is why I think Monero is the future of crypto.