Topic: Huobi.com Suspending Withdrawal: Funds Held Hostage due to Monero Transaction - page 2. (Read 257 times)

But they apparently say nothing about what happens to a customer's funds if they decide to go that route and suspend the account (I did not read the link you provided, but I've read similar statements and found them to be vague on that point)?

But in any case, Huobi is referencing "high-risk investment(s)" which I usually assume to be margin trading with high leverage, etc., not privacy coins that don't introduce any more risk as far as trading goes as any other coin.  In other words, while that statement is doubtless true, I don't think it covers specific coins and certainly not Monero.

OP, I know of Huobi by name only and have never used them, thus I don't have a bias in your case.  I agree with examplens that more info is needed if there is any that would have influenced them to freeze your funds.  I do wish you the best in getting them to un-freeze them, and whatever the outcome is please keep the community updated if you would.  People like you speaking up when they're having trouble with exchanges helps a lot of people, whether you realize it or not.

Huobi in the past have delisted Monero and other privacy coins to be compliant with regulatory rules which limits trade of untraceable transactions and those done through mixers. If you have not in the past withdrawn or deposited Monero then they might have some regulation against it.

All these exchanges use their Terms of service to give themselves the right to act in their sole discretion;

"5.2 When this Website finds at its sole discretion that you or your associated account user is not suitable for high-risk investment, this Website shall have the right to suspend or terminate the use of your account and all associated accounts thereof."^[1]

So even without trading a coin that is not allowed they can terminate or suspend your account cause they feel like.

[1] https://www.huobi.com/en-in/about/agreement/

- Jay -

I don't want to take sides here, but you haven't presented anything from your side. Have there been any changes in your use of this exchange?
They certainly didn't choose you at random to freeze funds, but something set off their alarm (at least it should be like that in working circumstances). Access from different IP addresses, different devices, a sudden increase in the withdrawal amount in comparison to the account history, suspicious deposit source etc...
It can be quite a lot, be sure to check what you have been doing from "unusual" activities.

Sent them an email:

When the issue is resolved I will take this down. I will from now on start to report publicly about this issue.

https://bitcointalksearch.org/topic/m.62508133

THEY REPLIED:


##- Please type your reply above this line -##
Dear Customer,

Your request (xxxxxxxxx) has been received and is being reviewed by our support staff. If there is any additional comments, please reply to this email.

Note:
1. Huobi shall never ask you for your password or verification code of your Huobi account in any case.
2. If you have any other questions, please send an email to [email protected] or submit a ticket in Huobi website.

Introduction:
I am writing this forum article to address an alarming issue I recently experienced with the cryptocurrency exchange, Huobi.com. I want to share my frustrating encounter with their suspension of my withdrawal and the subsequent withholding of my funds. I suspect this is a deliberate strategy to keep funds hostage, potentially leading to theft, all under the guise of adhering to anti-money laundering (AML) and know-your-customer (KYC) policies. I am curious to know if anyone else has encountered a similar problem with Huobi.com or any other cryptocurrency exchange.

Background:
I had been using Huobi.com for my cryptocurrency trading activities without any major issues until I attempted to withdraw funds after a Monero (XMR) transaction. Despite following the necessary procedures, such as providing KYC documentation and transaction history, my withdrawal request was suspended, and my funds were effectively held hostage.

The Problem:
The most concerning aspect of this situation is the lack of transparency and communication from Huobi.com. I expected a prompt resolution to the issue, considering I had already provided them with the requested KYC documentation and transaction history. However, it has been an extended period, and my funds remain inaccessible.

Suspicion of Deliberate Strategy:
Given the circumstances, it is difficult not to question the motives behind Huobi.com's actions. By keeping funds in limbo, the exchange not only creates frustration and inconvenience for users but also raises suspicions of potential fund misappropriation. The purported reason for this action, compliance with AML and KYC policies, appears to be used as a smokescreen to mask their actual intentions.

Seeking Similar Experiences:
I am keen to hear from others who may have encountered a similar problem with Huobi.com or any other cryptocurrency exchange. By sharing our experiences, we can determine if this issue is an isolated incident or part of a more widespread problem affecting cryptocurrency traders.

Conclusion:
The suspension of my withdrawal and the subsequent holding of my funds by Huobi.com due to a Monero transaction has left me deeply concerned. The lack of transparency and communication from the exchange raises suspicions of their motives and intentions. I hope to connect with others who have faced a similar predicament to shed light on this issue and collectively address it. Cryptocurrency exchanges should be accountable and prioritize the fair treatment of their users, ensuring the safety and accessibility of their funds.