Topic: Freewallet.org is a fraudster who cheated me out of 15.2BTC - page 3. (Read 1124 times)

Will you be resolving the issue referenced in this thread?

I would be very worried if I was the OP. Surely it’s up to the police/government to decide somebodies fate & if they’ve committed some kind of fraud or crime. Your job is to allow a customer / user to have access to their funds. If you haven’t had a subpoena why are you restricting the OP?

The referenced issue has been resolved: please see our post as of April 13 https://bitcointalk.org/index.php?topic=5128260.20

Create a Flag against the service and I'll support it. It absolutely disgusts me to see what has crypto come upto. You need document verifications to have access to your wallet? From a company whose team is anonymous? Op, you're an idiot to be using such scam service in the first place!

I've left a negative rating on their account as I don't trust a wallet service that asks for KYC.

Looks like they have form for this type of behaviour. Similar in April 2019 - sum 120,000 USDT

https://bitcointalksearch.org/topic/freewalletorg-is-a-scam-5128260

Release the OP’s money Freewallet or you’ll get a shit storm of negative trust & you’ll get a flag against your account.

Well that's exactly my point.

Per your TOS you have a motive to ask as much customers as possible for KYC documents, as you state that if *you* think a customer has commited fraud, you can seize their assets.

Who are you to determine what's fraud in the first place, and not something like a trusted third party? and how can you then claim the "fraudulent money".
One can argue that that is your actual business model (Which is highly immoral imo.)

Idk. It just seems like there are no checks and balances. Another reason not to use your service.

Hello, from a friend in chat room, I knew Freewallet.org where I could conveniently exchange cybermoney only by registering. I believed that BTC would appreciate on July 10 so I transferred 190000 USDT in total on July 9 and successfully exchanged the money into 15.2 BTC. Website: https://live.blockcypher.com/btc/address/3MYY7addBQNQn4DW8Bz2FRUNdsexLKt88D/
When I tried to transfer the 15.2 BTC out of Freewallet.org, the website reminded me of “Error in transaction fields”. I did not know why this happened so I tried for many times.

https://imgur.com/BdaWsdz

I got the following email from them,


It is ridiculous that I can provide correct Email confirmation, 2-factor authentication and PIN code but the website reminded me of” detected suspicious activity on your account. In case it was a hacking attempt, we had to temporarily suspend withdrawals from your account”. The website require me to provide my personal information. Is Freewallet.org a wallet? Why does it require me to provide my personal information like an exchange? I do not want to provide but the price fluctuation of BTC is huge. I have no time to communicate with them so I have to compromise and provide Freewallet.org with my personal information.





For fear of Freewallet.org having more reasons to refuse me, I contacted a professional translation agency to translate my personal information, and sent it to them again. They told me to wait for their approval. But I haven’t received any news up to now. I have emailed them several times to speed up my information review, but they only told me to wait. Now the price of Bitcoin has fallen, so that I have lost USD 30,000 on Freewallet.org. I hereby warn everyone that please do not use Freewallet.org. I just want to get my money back now.

So the name is misleading and freewallet is not a wallet, rather some kind of financial institution?

Would you mind sharing what led you to this conclusion? As per our terms and policy, we have the right to put suspicious activity on hold.
It is the common practice of financial entities nowadays.
As for the investigation, we are always available to all requests of public authorities and further cooperation.

As a custodial service, we chose not to share private keys with individual wallet addresses. As you can see, we always provide step-by-step assistance should any claim be addressed.

The last sentence is particularly worrisome. I'm not sure if this is normal in the industry, but how can this company be both the investigator, jury, and executioner, is this even legal?

I just checked the freewallet app and realized they do not even give the "wallet's" private keys to the users. This should have been the first red flag. Shame that such an established named had to resort to such trickery.


@OP Create a flag which says "This user violated a casual or implied agreement with me, resulting in damages" I will support it.

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I have also seen some of the past abuses that were similar to this incident. I will never trust this wallet again.

Our guidelines are compliant with international AML regulations and standards.
That's the main reason why this procedure is in place.

How does the risk-scoring algorithm work? Mind sharing the pseudo code?

In your case, the risk-scoring algorithm has detected suspicious activity. For security reasons, we are not able to reveal all the details of this process.

Thank you for preparing the requested documents; we'll definitely get back to you today.

In case of Your breach of the Terms, <...> in our sole discretion and without liability to you, with or without prior notice:

a)suspend your access to all or a portion of our Services; or
b)prevent you from completing any actions via the Wallet, including closing any open Transaction requests. 
In case the Transaction resumes, you acknowledge and agree that prevailing market rates may differ significantly from the rates available prior to such event; or
c)terminate your access to the Services, delete or deactivate your Freewallet Account and all related information and files in such account.
5.9.
In the event of termination, Freewallet will return any crypto assets stored in your Freewallet Account and not owed to Freewallet, unless Freewallet believes you have committed fraud, negligence or other misconduct.
#

It absolutely disgusts me to see what has crypto come upto.

You need document verifications to have access to your wallet? From a company whose team is anonymous? Op, you're an idiot to be using such scam service in the first place!

In your case, the risk-scoring algorithm has detected suspicious activity. For security reasons, we are not able to reveal all the details of this process.

Our guidelines are compliant with international AML regulations and standards.
That's the main reason why this procedure is in place.

I received your reply and provided my personal information again according to your request. Please handle it as soon as possible! You will only request information from customers endless it?

,
In your case, the risk-scoring algorithm has detected suspicious activity. For security reasons, w are not able to reveal all the details of this process.

Our guidelines are compliant with international AML regulations and standards.
That's the main reason why this procedure is in place.

from what I saw, you are anonymous:

https://freewallet.org/about

and I do not see any license issued by any government that gives you authority to request documents from your clients, what authority do you need to report your wallet activities? because I'm not seeing another reason for you hold OP funds, and do not talk about your TOS, that this is already tiring

But I haven’t received any news up to now. I have emailed them several times to speed up my information review, but they only told me to wait.

Hello,

As per our terms and conditions, we are authorized to perform the verification procedure: https://freewallet.org/terms (please read the 5th paragraph)

However, we are making sure to have our customers' accounts verified as soon as it is technically possible.

In your case, the risk-scoring algorithm has detected suspicious activity. For security reasons, we are not able to reveal all the details of this process.

Thank you for preparing the requested documents; we'll definitely get back to you today.