My flag is against
who are owners or part owners of novaexchange.com who have announced they are closing and that users can only withdraw if they have verified via their KYC process.
I have tried multiple times to verify myself via their convoluted KYC process, however they at first ignored my comments, then simply said to email them which went un-responded.
Their official thread
Nova Exchange [
Archive] has had no response since the 18th of July when I posted that I could not verify myself via their KYC process.
I've seen comments that I am not the only one to be unable to verify via KYC, so I am left with no option other than to create a flag.
*edit*
A question came up in a seperate thread asking
if you knew what their terms were, why did you still sign up (but not complete the KYC process) ? Well, on novaexchange's website they had tiers for signing up, tier one was user name (plus AFAIK email which gets verified) - you can sign in and view the trading floor, but can't trade. Tier two you register (user name+email) and can then upload crypto and trade *but* you cannot withdraw unless you complete the KYC - most importantly, you are given 12 months from when you first register to complete the KYC process.
There are at least two emails that have been sent by nova to customers, unlike the website which has kept quiet about it, the email says (and I kid you not)
- Starting from October 28th until November 27th, there will be an equivalent to 0.0001 BTC custody fee charged at the time of the withdrawal request.
- Starting from November 28th until December 19th, there will be an equivalent to 0.005 BTC custody fee charged at the time of the withdrawal request.
- Starting from December 20th until January 27th, there will be an equivalent to 0.01 BTC custody fee charged at the time of the withdrawal request.
- From January 28th 2020 onwards the Nova website will be closed and users will have to get in touch with us to claim their assets.
- The custody fee will increase by 0.005 BTC every month on the 28th onwards.
Given they are dragging the chains to confirm people, until wouldn't you know it? You have to pay an additional fee to withdraw your coins...
novaexchange has varied the terms of use of their website, they should allow all users to withdraw our funds without charge especially given some of us are documented as having tried to complete their registration/KYC process and been unable to complete the process.
I would be interested to hear if novaexchange.com has sought a legal opinion as to whether or not their course of action would stand up to scrutiny in court.
