Topic: Exchange withdrawal issues (Read 438 times)

I think OP just got scammed of his assets. This is just how those scam exchanges operate. First they sieze your assets then tell you that your account is under investigation and ask for your information. After that, they tell you that it n other to verify your account properly so that you would be able to withdraw, you should make a deposit of some certain amount of money as  they  wish. Then you fall for them and they run away with your whole funds you have deposited with them. That is how they work.
OP I think this should be a lesson learnt. Do well to do research on exchange well known so that you do not enter such problem again. These periods are not what someone would be falling for scam again.

I've never heard of the exchange called h5.multi-banks.com and from the name alone I'm starting to not get the urge to use it even though the exchange also has cryptocurrency in it. And in my personal experience, usually when there is a problem with a withdrawal and as users we don't make a mistake which could be very important for them, of course we need to make a request for a ticket to the exchange so that the problem we are experiencing can be resolved quickly. However, if it's a problem like the one you experienced on an exchange that I've never used, it's a bit confusing to give more appropriate advice.

I’ve heard of this scam.
Still hoping I can get it. Will see

These are mainly the format used to extort money from, these fraudsters uses some strategy to collect their victims money, after some certain time, you'll be emailed or something to deposit a little amount before you'll be enabled to withdraw to whichever wallet address you want. At the end of paying, you'll still be given another format and on and on and on just to get money from you untill you give up on them and refuses to pay.

It is very risky to trade on exchange because of it centralised nature but if we must trade on exchange it will be preferable we go for the ones that are well known than new exchanges that people don't know about. Their  are many exchange that are not reliable , and it is risky to trade in exchange like that because anything can happen.

Exchange can not be trusted but the reputation of an exchange over the year is enough to tell if people can manage to to trade in it or not.
Those going for small exchange to trade that are just coming up I think they are taking a big risk to trade their money on what they do not know better

Am not promoting the site, just trying to get my $ out of the account. This is the account I sent the funds too from the edxmarkets site.
If you google MultiBankGroups you will see various hits.
https://www.forexbrokers.com/reviews/multibank-group#:~:text=Final%20Thoughts,operate%20as%20a%20cryptocurrency%20exchange.

They told me they are part of this group

As stated by others as well, the domain shows that it's not a known exchange, I've never even seen that domain before and I've been in the cryptocurrency industry for years and I know most of the cryptocurrency exchanges, legit ones. I also wonder why you would use a completely unknown exchange when there are popular and well-known cryptocurrency exchanges available such as Binance, Coinbase, Kraken, and many more where you can trade, use P2P marketplaces, and get access to a bunch of other tools and services.

If you are a part of the exchange you've mentioned in your post and trying to promote it, then it's understandable but if that's not the case, you should avoid using that platform and register at a well-known and popular exchange platform and use that to stay safe from frauds and scams which I believe is what you are talking about.

More likely your $$$ in that exchange is gone.  This is the first time I heard of an exchange banning arbitrage trading besides, reading the earlier replies and I agree that the exchange is mostly a scam especially when it was referred to you by an FB "friend". 

You can create a scam accusation on this board: Scam Accusations  but i doubt it can help you recover your fund.  It can only warned people about the exchange since the exchange doesn't have any service announcement in this forum as far as I know

OP, for the few tier 1 and tier 2 exchanges that I have actually tried, I have not experienced any withdrawal issues unless the ones that made KYC compulsory. I have not heard about the exchange you mentioned; even on the list of exchanges that have been suggested on this forum, this one has not been mentioned to my attention, and if it were that preferable, then it probably would have been discussed a few times here. I guess you are dealing with a scam exchange. Just switch to using more reputable exchanges like Binance or Coinbase.

Having issues with a exchange called h5.multi-banks.com
Thier crypto bank has flagged my account as suspicious for arbitrage and says I have to wait a month or two before doing a withdrawal.
I had done several withdrawals to see if I could trust the site. There was also some issues with sending digital crypto to a coinbase crypto that was unsupported
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OP where did you get the exchange site you mentioned here? This is the first time I have seen such an exchange site from you. Many people expressed their opinion here and said it is a scam exchange site. I will also say with 100% sure this is a scam exchange site. It is not right for you to use all these scam sites, you should have used all the best exchanges. This no way to solve this issue and you have given your money to scammers.
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Hello
I did mention the site is the USDm to USDT thread.

Still hoping I can withdraw. I have a copy of some docs showing them regulated by the Cypris, Singapore and austrialian  Finance groups.  Not sure how easy or hard it is to communicate with these bodies. Already had one email ignored. I did find them on the countries register but with the name
MEX instead of multi-banks

 http://[img][quote][img]
[/quote]
Yes I also understand that you have created the thread here to convert USDM to USDT. But if your problem is solved then good for you. In my experience I have never heard of an exchange where the answer to my question was overwhelmingly negative. But it sounds great for you if your problem is solved. I hope your problem is solved very quickly.
[/quote]

There is quite a lot of info if google MultiBanksGroup. It seems that the site i posted is only one of the groups and each individual group is more independent then I thought and they all have thier own sites. It’s really a forex site that does crypto. Is this a new thing where forex is doing Crypto?
I am wondering if I posted in the wrong forum.
When I asked one of the groups sone general questions they said they would only answer questions about the group in thier country. This is quite confusing.
But still see sone hope

Yes I also understand that you have created the thread here to convert USDM to USDT. But if your problem is solved then good for you. In my experience I have never heard of an exchange where the answer to my question was overwhelmingly negative. But it sounds great for you if your problem is solved. I hope your problem is solved very quickly.

Thanks
I have had frequent contact with thier customer support which is relatively easy to contact.

Still hoping

Hello
I did mention the site is the USDm to USDT thread.

Still hoping I can withdraw. I have a copy of some docs showing them regulated by the Cypris, Singapore and austrialian  Finance groups.  Not sure how easy or hard it is to communicate with these bodies. Already had one email ignored. I did find them on the countries register but with the name
MEX instead of multi-banks

 http://[img][quote][img]

If your exchange is facing any such problem then why are you not contacting the online support of the exchange. Try to contact the online support people and tell them about your problem. Support will help you to find out why this problem is happening or why your win is being suspended. Apart from helping you in this regard, the online support will guide you in various directions on what to do or how you can complete the withdrawal. If you don't have the experience of contacting online support before then search on Google or YouTube by writing the name of the exchange from which you are facing this problem and you will see many related videos coming in front of you. I hope you can solve your problem by watching them.

OP where did you get the exchange site you mentioned here? This is the first time I have seen such an exchange site from you. Many people expressed their opinion here and said it is a scam exchange site. I will also say with 100% sure this is a scam exchange site. It is not right for you to use all these scam sites, you should have used all the best exchanges. This no way to solve this issue and you have given your money to scammers.

Not sure what you mean by notification.  Do you mean the statement from customer support where they suspect me of arbitrage? I can post it if you want
One thing I am not is a liar or a cheat or a trickster. I will send my Facebook profile if you want more info. On PM.  I am not trying to hide anything. I got $$$  in this account.

Can you share the notification they have sent you because I doubt you are really here to get some help instead I think you are just trying to lure people into clicking on that website so they copy it or open it, it might be consists of harmful links or viruses. I am not accusing you its just, I have seen almost 3 cases till now that I remember of. And in the three of them, OPs said they deposited on some X exchange and now they are unable to withdraw funds from it. I mean, why you normies (don't mind) chose these exchanges which are new or have lesser traffic or are not listed on even CMC or CGC.

Why don't you try already trusted or top 10 or top 50 (even) exchanges, why you guys directly jump onto these websites. Well, I am not trying to panicking you but it might be possible that the exchange is a fake one, but you should DYOR and let's hope for good because losing money is not what everyone wants for themselves. All you can do is talk with there support if they are even active. 

I did not have to do a KYC, like Crypto or Coinbase and Kraken.
Do other exchanges do 100:1 levered margins on your deposited position?. But if I can’t withdraw it then it’s not doing much good

I have not never used this exchange until now and that is why I prefer to use well-known exchanges that have a much better reputation. Usually when the exchange tries to delay a transaction or suspects arbitrage, there is a possibility that an error occurred in the KYC process that you carried out, where there is no identity match. It could also be because the KYC process you have to complete is not complete, that's just an assumption because I personally have never used the exchange.

There are many exchanges that have a good reputation in the crypto industry and although we agree that exchanges are not a safe place to store coins. I prefer an exchange that has a good reputation for buying and selling because its features will be much more complete and quite easy to use.

A little background check could have saved you from all these hassles. You could have discovered that this exchange doesn't have a reputation yet, that it's just a few months old, that the name of the domain's owner is hidden, and so on.

Anyway, that you have violations could either be true or not. But it's highly likely that this is just an excuse or alibi for them to freeze and eventually seize your funds. They probably flagged each and every account, but they don't want to appear plainly as thieves so they need to state a bogus reason.

I hope the amount involved is small and that you've learned your lessons. And please don't be a victim twice. They might tell you to deposit here and there for you to retrieve your funds, or demand a complete KYC, and so on.