Topic: [Exchange] Uphold - Something fishy is going on (Read 78 times)
It's pretty much a common occurrence with US-based exchanges, as far as I know (e.g. Coinbase). This surely sucks, but I think the reason is mostly due to a combination of very strict AML countermeasures, and really bad customer support. The former I could understand to some extent, but these exchanges should definitely work on the latter.
I hope all of you are having a good day/night.
I am not sure this topic belongs specifically to this section of the forum, but considering I am relatively new and I would like to warn new people about this, it seemed appropiate to me. I apologize in advance if it is not.
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It has come to my attention that the sub-reddit dedicated to the crypto-currency exchange Uphold has been abnormally full of red flags and horror stories about people having their money seized, not being able to access their accounts or withdraw, ect.
Without mentioning that the technical support does not seem to be effective.
So, I'll proceed to share some direct links to the discussions on Reddit itself, so you can judge for yourselves:
Person claims to have been sustracted over 2000$ from his account by Uphold without reason (offers pictures, the comments more info)
https://www.reddit.com/r/uphold/comments/ohgaqt/uphold_stole_2000_from_me_in_eth_last_deposit/
Got their ETH "hostage"
https://www.reddit.com/r/uphold/comments/pgv8gw/someone_please_help_uphold_is_holding_my_eth/
Problem with 5k$ in XRP
https://www.reddit.com/r/uphold/comments/pg8k0u/guys_uphold_just_stole_5k_worth_of_xrp_from_me/
Uphold glitching, showing wrong prices
https://www.reddit.com/r/uphold/comments/pfxqk3/uphold_glitching_and_randomly_every_crypto_tanked/
Another 2k$?
https://www.reddit.com/r/uphold/comments/pczuew/about_to_go_public_with_my_experience_of_losing/
Want her/his money back
https://www.reddit.com/r/UpholdOfficial/comments/pgk17d/ticket_1603621/
And so on.
Feel free to check yourselves, if you want:
https://www.reddit.com/r/uphold/
https://www.reddit.com/r/UpholdOfficial/
_______________________________________________________________________________ ___________
Now my personal thoughts:
I have personally used Uphold myself for a year now, I have never had problems so far (maybe because I dont store money there, just exchange), and even though their fees are not the best ones, their interface is user friendly and many people use it because of the Brave rewards and whatnot. Nonetheless, these kind of things are not to be ignored by the crypto-community.
Do I have evidence of Uphold being a scam? No.
But I personally can't cross out that perphaps one or some Uphold employees have gone rogue and are taking advantage of their positions.
On the other hand, there is always the chance this is some kind of campaign paid by a powerful rival exchange to attack Uphold, which I am not fully comfortable considering, knowing actual people may be losing thousands of dollars.
Either way, there are better exchanges and if I can save some newbie from a bad experience or losing their crypto, I am ok.
... Just my two satoshis.
I am not sure this topic belongs specifically to this section of the forum, but considering I am relatively new and I would like to warn new people about this, it seemed appropiate to me. I apologize in advance if it is not.
_______________________________________________________________________
It has come to my attention that the sub-reddit dedicated to the crypto-currency exchange Uphold has been abnormally full of red flags and horror stories about people having their money seized, not being able to access their accounts or withdraw, ect.
Without mentioning that the technical support does not seem to be effective.
So, I'll proceed to share some direct links to the discussions on Reddit itself, so you can judge for yourselves:
Person claims to have been sustracted over 2000$ from his account by Uphold without reason (offers pictures, the comments more info)
https://www.reddit.com/r/uphold/comments/ohgaqt/uphold_stole_2000_from_me_in_eth_last_deposit/
Got their ETH "hostage"
https://www.reddit.com/r/uphold/comments/pgv8gw/someone_please_help_uphold_is_holding_my_eth/
Problem with 5k$ in XRP
https://www.reddit.com/r/uphold/comments/pg8k0u/guys_uphold_just_stole_5k_worth_of_xrp_from_me/
Uphold glitching, showing wrong prices
https://www.reddit.com/r/uphold/comments/pfxqk3/uphold_glitching_and_randomly_every_crypto_tanked/
Another 2k$?
https://www.reddit.com/r/uphold/comments/pczuew/about_to_go_public_with_my_experience_of_losing/
Want her/his money back
https://www.reddit.com/r/UpholdOfficial/comments/pgk17d/ticket_1603621/
And so on.
Feel free to check yourselves, if you want:
https://www.reddit.com/r/uphold/
https://www.reddit.com/r/UpholdOfficial/
_______________________________________________________________________________ ___________
Now my personal thoughts:
I have personally used Uphold myself for a year now, I have never had problems so far (maybe because I dont store money there, just exchange), and even though their fees are not the best ones, their interface is user friendly and many people use it because of the Brave rewards and whatnot. Nonetheless, these kind of things are not to be ignored by the crypto-community.
Do I have evidence of Uphold being a scam? No.
But I personally can't cross out that perphaps one or some Uphold employees have gone rogue and are taking advantage of their positions.
On the other hand, there is always the chance this is some kind of campaign paid by a powerful rival exchange to attack Uphold, which I am not fully comfortable considering, knowing actual people may be losing thousands of dollars.
Either way, there are better exchanges and if I can save some newbie from a bad experience or losing their crypto, I am ok.
... Just my two satoshis.
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