Topic: Exchange withdrawal issues (Read 424 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.
[/quote]

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.

Thanks again to Everyone for all the feedback.  I am not sure about this site and still hoping

I was led there by a FB friend. Started in edxmarkets.com which is supposed to be backed by Schwab and fidelity. Transfered funds to bank and then to other sites with no issues. Maybe that’s the come on.

Are you referring to the etherium hashtag number above?  That was concerning my first post on USDM to USDT where I lost 1000 cause a coinbase rep said it would work. Which it did not. It was claimed that this failed transaction contributed to the “arbitration”  suspicions about me. They knew about the failed transaction to coinbase without me telling them.  Plus I took 18k out then put it back in.

We’ll still hoping here

Not sure how to do multi quotes here or I would have done so

Even if you live in the remotes part of the world, you should still be able to have access to atleast one of these exchanges Binance, Coinbase, Kucoin, Kraken, Bybit. I checked went further to check the top cryptocurrency spot exchanges on https://coinmarketcap.com/rankings/exchanges/ and I didn't find this exchange which the OP talked about on the list. I am concluding that the OP has been scammed.

OP's funds isn't locked for months, it is lost for good; and any more money they deposit into that scam exchange is gone. Contacting the scam team would lead to them requesting that OP pays some money for whatever flimsy reason they can come up with, so they would be able to unlock the funds, if OP falls for that too, then that money is also gone. It is sad that people like OP come here only after they have fucked up and not before, OP should never visit that website again and start doing their research before using wallets, exchanges and other whatnots.

I have never heard of this exchange before or even come across it anywhere before. It seems you have very little knowledge about exchanges and cryptocurrencies, if you had much you wouldn’t have even traded with an exchange like this when there are a lot of popular ones that you can go for without any stress of using them. They don’t look like something that will scam seeing how far they’ve been in existence and operating. Please stop using unknown platforms for any cryptocurrency related activity, you can easily get scammed because of the little knowledge you have about them.

I'm amazed that people always find these small scams somehow. OP wants a US exchange, because the domain is in the US, so I guess that's how OP was directed there. There's Coinbase promoting itself everywhere and even giving free money to people who register, there's Gemini, Kraken... and OP manages to find h5 (hi5? ) that probably has a whole 1 guy running the whole thing and maybe gets to scam 1 poor guy each month.

OP: hello, I want my money please!
H5: I'm sorry, we're having trouble with our crypto bank. Your dollars are currently stuck in the "block chain" and you need to pay additional fee so we can make it unstuck.

Yes, even I haven't heard of this new exchange platform before. Through searching for "Multi Banks" in the search engine, it became clear that the scam fake domain mentioned by the OP, from which he couldn't withdraw his funds, is not the official domain of MultiBank Group. I honestly don't understand the wisdom behind using these lesser-known and unrecognized exchanges. Perhaps it's due to the tempting offers they provide.

I agree that he may have used this fake platform based on recommendations from strangers and fake accounts that appear to be bots. It's sad for what OP lost, but he is okay as long as he learns the lesson and won't repeat the mistake again.

Never heard of this name.

From the case and name it seems like a centralized exchange, if it is buddy what else you can expect from such a platform? Sad to hear ou lost some of the amount, I'm sure there's no way to get back else opening a full-time case in the reputation board if any of the team members visit the open discussion they may refund you for fear of losing reputation hehe the reputation to scam other in future as well with big amounts.

Buddy thanks for posting it here but I think you should move to the reputation board, with some proof to guide other user of not suing such platforms. Many of the forum fellows already recommended it and I do endorse this as well.

The exchange isn’t a popular one and doesn’t have a reputation in the crypto community. According to scamadviser.com, the domain was registered 4months ago. I think I have a good idea how you came about this so called exchange, probably a beautiful woman on Instagram or telegram recommended the website. Anyway what I think you should be doing is a scam accusation thread.  That won’t bring your money back, but it will help warn others of this scam site.

Doing arbitrage trading is restricted, this was new for me, maybe it might not be in there policy, because not every exchange restricted it. I never heard about this exchange and never even faced it even by accident. But the domain name arose a skeptical thought in my mind that this might be a fake exchange. Who told you to use this exchange, like how did you found it. I think you are new to crypto and don't know much about crypto exchanges.

Because if you will have any idea then you should be preferring top crypto exchanges, because that's the best practice to do, and even if you are newbie you should have check the authenticity of the website and must check how old this is and how many review it have, even if the reviews are fake, so before using it you should make this topic.
I feel sad that your funds are locked there for months for no reason, but you should contact the team to unlock the funds maybe they might give you some way to do it, but for that the exchange must have to be a legit one otherwise its sad to say but your funds must be gone.

Don't you read about their ToS before signing up for them, isn't this one of the reasons why we always encourages for people to abstain from using a centralized exchange, in your own case it wasn't only with the use of a centralized exchange that matter but an exchange that has no much global recognition, if you violate their rules they will definitely penalized you for doing so, talking about arbitrage trading on it own, am thinking that may be the reason or part of the reasons why your account was suspended if they go against such trading, it's nothing than gambling when you engage on arbitrage trading.

Yep — I don't think I've even seen a single half-decent exchange platform that has a UI that was solely made for mobile, as alienating desktop users is a dumb move in the first place. This platform simply just reeks of 'scam'.

I like the way you put these things out here bluntly. There's no diplomacy is calling out falsehood. Looking at what OP stated there, mere looking at the site domain, one can see scam clearly written over it. My bewilderment lies in why people don't ask questions before embarking on some of these inglorious investments first. They only get to ask after the milk had been spilled.

If I may ask, who introduced or recommended you to this platform? Or you are just randomly searching and bumping into this suspicious fraudulent website?

By the looks of it, I assume that you were still a total newbie (not just in rank alone) as you are in a rush and not taking time to research first before engaging.

Sad to say that due to engaging in a fraudulent website where you do not have the control of your BTCs, there's no way that you can recover them where the ones behind it may likely going to shut it down and ran away with your hard-earn money.

Worse is if you have submitted KYC to them that would lead to identity theft. It's hard to accept this loss of yours, but it is what it is and we cannot do anything about it. This is gonna be one of the hard lessons that you will ever learn in the BTC and crypto space.

According to scamdoc, the domain is just less than 6 months old and the trust score rating is bad.
 
There are many good exchanges you'd have opted for, but don't know why you had to settle for such an unpopular exchange. It's not on the list of coinmarketcap exchanges nor to talk of top 100 exchanges. The exchange is a scam, and if I were you, I'd not bother submitting my personal documents for KYC verifications, because they'd steal your data and still you'd not be able to withdraw your funds.

Exactly! There is no serious exchange that can choose such a confusing, long and vague domain name unless if it's a scammer looking for the cheapest domains he can use to scam knowing they will go offline shortly.

---

Looking at the website, I am very sure I have seen that template before, with other several scam exchanges before. The template looks like it's mostly designed for mobile phone view, and viewing it from a PC browser looks very messed up and funny.

as others have said, you are most likely scammed and the reason they made is just an excuse to not pay you. there are a lot of similar-looking websites out there that are scamming people and some of them have already shared their experience on websites similar to the one you posted.

by the way, how did you even find out about the website? if you search "h5.multi-banks" on Google, other than the website itself popping up there is no other information about it.

I need to ask you this and I hope you come out with the exact truth of what happened behind the veil, did anyone contacted you on telegram to use that exchange? Maybe for some extra bonuses or offers? Or did they somehow promise to give you some percentage of the money after you successfully withdraw some amount of money?

Sorry if you don't like this question but even a beginner will feel somehow about this exchange, the name alone is a big turn off, and I can remember that something like this was been shared to me on telegram but scammers, they pretend to be in trouble and they need someone who can do the withdraw for them in exchange for some part of the money?

Why would anyone use this exchange in the first place if something isn't fishy? Even those who are not into crypto knows Binance exchange, some don't even know how to use the exchange but they know its a place you can sell and buy crypto, even those that don't know Binance knows how to use google search to find top crypto exchanges, sorry to say but this is a scam and you are already a victim, next time don't use creepy exchanges for any reasons, always do your own research first.

You will not be able to withdraw because it is a scam. They put this warning and may ask you for personal data or to send more money, but you will not be able to withdraw. Next time DYOR and ask here before trying any service.

Some of the site are full of scammers so I believe that we have to make sure that we penetrate into a site and know exactly what the outcome of the site is all about before we can exchange with them, sometimes we don't make a verification before we began to follow a site, when you come to exchange I will advice people to be using binance even bestchange to exchange your cryptocurrencies transactions so that you will not be bothered much

I dont think so if this is a way for the user to promote the exchange he is using based on the history of OP.
I recommend using a well-known exchange rather than taking a risk with this platform with your asset. Also, why not provide the other details and also if you committed a transaction a tx id must be given to you, and you can check this too to the blockchain if there's a confirmation or not.

The domain name was registered a few months earlier on 2023-09-04. This is a shady exchange for sure if you have made a significant amount of deposit then forget it now. You won't be able to get those funds back in anyways, it is better to repost this exchange to your local authority. They might be able to give you more details or even might be able to get your funds back.

Never use any exchange that comes up with lucrative offers for opening up an account and making a trade. If you want to use a CEX then there are many trusted ones like you mentioned Coinbase. If you are using an exchange for trading purposes then do not hold large funds in your exchange wallet. Always use non-custodial personal wallets for holding funds.

I agree with you @mk4. OP should use buffer exchanges that already have their reputation and not a small unrecognised exchange. This is because they are not yet reliable and you don't know how much that they have, they might have come out to scam people of their money, also these small exchanges is prone to attack because their security can be breached easily.

The only thing that I will tell you to do, is to relax till the given time that they gave you and try to withdraw again. If your withdrawal is successful, you should use a reputable exchange, and if you are unable to witdraw, it means that you have been scammed. For decentralized exchange you can use bisq and if you don't care about your privacy, you can use a centralized exchange like Binance, Coinbase, Kucoin.

Looking at the domain name alone and without even opening the website, I'm already 99% certain that it's a scam. If you were to use a centralized exchange, just stick to the bigger well-known exchanges, my guy. Don't risk using unknown exchanges.

Exchange-related topics can be posted in 'Exchanges' sub-board of 'Service Discussion' board.
Here's a direct link to that board: https://bitcointalk.org/index.php?board=223.0

But if you think the main problem is mostly related to the Altcoin that you're trying to withdraw, it should be posted in "Service Discussion (Altcoins)".
Link: https://bitcointalk.org/index.php?board=198.0

BTW, that webpage has 3 hits in Virustotal flagged as a phishing or malicious site.

Hello
Where can I post issues about problems with withdrawals if the the exchange deals with other crypto then just BTC?
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