Topic: Fairlay withholding my BTC for currently no real explanation (Read 629 times)

Mr. Degen please post the transaction ID so we can examine your claim sir.  Also where did you send this from? why would you send 100K from a wallet you do not control is also a viable question for my curiosity

Could this be you?  https://www.ccn.com/100000-bitcoin-loss-bitgo-engineer-sim-hijacked/

They did not actually send back the bitcoin yet as they said they would. Also sending back to the exchange would not guarantee a return of funds to me. This would be like if I sent an envelope of cash to a bank branch that I knew you took cash out from.

It seems that this thread has become attention of many people which raises a variety of pros and cons. I myself have not found a clear reason why site acts like that and where did @degen1 get money. I think this is one of fairlay efforts to eradicate money laundering, I am sure third party intended by @degen1 has informed them that the address owned by @degen1 is suspicious and is involved in a crime case. Well, I think fairlay only want to do their best and avoid money laundering. The following is clarification from their support team, so there is no longer any reason that fairlay is suspending @degen1 money because they have returned it now.

First of all, having a high amount of deposit like 100K is definitely a large amount that could be considered anything. It's not like everyone has that kind of money. degen1 deserves his money back, with all the facts considered.

I'm just not sure I quite understand returning to the sent address wouldn't be ideal. If it came from an exchange, it might have come from the cold storage that the exchange has and if you sent it there, it wouldn't go to degen1's account right? Is there something I'm missing? Or maybe wrong? Does degen1 own an exchange?

I want to write a final bit to point out what eventually most people who care should see, and I don’t want Fairlay to be fully excused for handling this terribly from the beginning:

#1) I asked them to return my funds to any address that it had been deposited from, I asked that and it had been suggested by everyone here and SBR for the last 6 weeks, to do this now while pretending they did nothing wrong is absurd

#2) they still never provided any information in terms of what I was accused of or who the third party was. They seem to continue to leak information without giving me any further insight, compromising security of my transactions to an unknown third party

#3) given that they still have not provided me any additional information, their comment that I was “unable to rebut” their assumption is false bc they never even gave me an opportunity. I was also never presented with any evidence

#4) there’s still no evidence that a law enforcement agency was involved, especially given the fact that all my information was handed out to a troll box, to SBR and to a third party

#5) it’s hypocritical that Fairlay has asked me in their emails to not disclose anything in public when they are not even guaranteeing a safe return of my funds to me, and that they are providing false information to the public to clear their name and save face (primarily that I wasn’t able to rebut anything. They asked for a phone number to reach me and when I gave that they did not call me, nor provide any further detail).

#6) didn’t they claim that I have no access to an exchange, and if my funds are of questionable origin, how do they know that they are returning to an exchange? And if it’s an exchange how is it a questionable origin?

#7) for them to give further information and further complicating me securing funds to other parties that may not be true is not their place

#8) I was just asked a few days ago about my identity and other personal details, so how could they even have been so sure that this third party had the right person..

Whether you believe me or not, the above is based on facts and logic. Even SBR has confirmed a lot of what I have complained about, including the fact that no information was given to me.

In my opinion this is no real solution for me as the customer, and it’s also not absolved them of their wrongdoings themselves, including potentially disclosing details on a supposed law enforcement investigation

Without knowing all the details of the case, it is good to see some kind of resolution, even if it took more time than OP wished. To be fair, operators must take their time to ascertain facts in these situations, especially with these kinds of sums involved. Otherwise the operator can make the situation worse. Props to the operator for a simple, clean post once they were ready.

It is not always easy to meet everyone's expectations as an operator. We understand this from our experience on both sides of the fence.

We'd like to publish the following update on the degen1 case for anyone interested:

 Decision has be made to return the roughly 100K USD deposit  of degen1 to the address it was sent from. Degen1 could not rebut our presumption that the funds are of questionable origin.  We therefore decided to reject his deposit and close his account permanently. Degen1 is not allowed to use our site again. The address his deposit is returned to belongs to an exchange.

 All involved parties have been notified that the transaction will be released to the Bitcoin network on September 20th giving everyone time to make necessary preparations.

I'm not sure what you mean

Yes this is abundant and people are agree to keep holding as holding is truly beneficial BTC is on trend to increase so this can lead to the next most expensive crypto for gambling in different casino people prevent to use their bitcoin and they prefer to gambling with fiat only and hold BTC after recognising the sensitivity of matter.

Agreed, they also seem to not have any clue what is going on with this supposed allegation. I would just say that I was a solid customer and if they can just so quickly abandon me and treat me like this, it can happen to anyone.

Fairlay should not only return the frozen funds, but also provide compensation if it was done in their error:

-failure to communicate to customer while communicating information to other channels
-said they will give a phone call, but didn't
-have arbitration listed in TOS, but don't actual provide it
-didn't provide any information to the cause and nature of the incident, nor a timeline for resolution

They will need a very solid explanation for the lack of transparency in their actions.  Most services and exchanges return funds for violation of TOS, and just ban the account.  Even then, unless an exchanged is defrauded (via hack or other means), freezing money indefinitely and keeping it is stealing.  It would only be acceptable to transfer it to the damaged party or the legal system jurisdiction overseeing the manner.

Based on some of the comments here, there seems to be some confusion. I've had plenty of contact with support and even the CEO. However, they are refusing to give me the proper information. They also asked me for a phone number to call and at first I was uncomfortable but upon second ask I gave it immediately and never received a phone call.

Additionally, they have informed other parties about what is going on but have still told me nothing. Almost every medium I've researched in terms of "seized funds" end up returning the deposit/funds to their customers, even in violation of terms and policies - and I have violated no terms and policies. Again to be clear, the apparent allegation has nothing to do with my conduct on Fairlay and the company has made no claims that I was ever a bad customer - in fact the contrary - they've claimed that I was a great customer even publicly.

The main point is to beware of usage of this site as regardless of what happens there has apparently been plenty of data and information leakage and yet no information given to me. In fact I could guess that the third party is someone phishing for information on my transactions and they could've provided inappropriate information about my account.

This issue can only be solved by talking to the site directly.You need to verify yourself fully if as you say you have nothing to hide.I wonder why you deposit and play in a kind of more of a betting exchange than a real sport bookie.I hope your issue is resolved soon but only by talking to Fairlay officials the issue can be solved.

The best course of action is probably to reach out to them on their public social media pages and hope that your posts get a bit of attention.
These things only tend to get resolved fast if their reputation is actually at stake.

Sending more emails to their support obviously doesn't do any good.

Actually, we can prevent that bad thing happen by reading from here or another website so we can know which website could be trusted and which is not. We can choose only recommended gambling website to deposit and playing gambling so we don't have to worry about the bad things that might happen later. The problem will not appear to us if we can be careful in selecting the website. I am sure that we can find more than 1 recommended gambling site.

And related to this, we need to be more careful in selecting the site because we don't want to get the same things as the OP. Besides that, choosing from the rating could work as we can see how many people who recommend those site to gamble.

they only deposit and not playing a gambling ? but whats their point of  doing it ?  did they get any benefiits like interest  , rewards and simillar to this ?  but i dont really think that it was a scam .  i did also do it on the past where i deposit coins on freebitco because they have an investment feature where you can earn interest  but i dont also play gambling on them   .


maybe they are just busy   . some support respond over a week and two  .  why dont you just give them more time to resolve your account ?

As everything is happening through the internet, everything we do is upon the trust. When something negative takes place, it is a must to try the possible ways to get it rectified. Further it is always good to have a prior analysis about the site before using it. Trust rating will help in staying away from such websites.

That is strange, I think. If we don't have any problem in the past, and suddenly we have this problem, it's too suspicious for me. Because we know that they are legit so far, and that makes us deposit to them, and we use them to playing gambling. Maybe they have something that they don't tell us, but I hope that this problem can be resolved and you can get your account plus your money back to you.

As other people said, you should try to send an email to them, contact their support system in the online chat or whatever you need to do to get the answer.

This is sad and it seems your account is being blocked unnecessary, if it is not a scam casino site and you can verify it is legit! I am coming across this Fairlay for the first time and the whole thing seems strange to me.
I have transfer bitcoin to my stake.com account before and I did not have intentions to used the coins to play dice or for gambling purpose and later I move the coin back to the exchange where I trade. I don't know why this your own should be different.

I like the decent manner in which you are dealing with this issue. I am pretty surprised that Fairlay has still not resolved your issue(Provided you didn't do anything wrong) since they did resolve any issues I had with them in the past quickly.


You are partially right. These are some serious red flags, but I have been using Fairlay for quite sometime and have never faced such issues since it is the best BTC exchange with decent liquidity out there.