Hypedrop.com supposedly withholding 3.9 million $ withdraw

examplens

legendary

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Quote from: efialtis on September 20, 2023, 01:47:11 PM

In our space (crypto gambling), sometimes it can definitely be considered a joke though... what I LOVE the most: Crypto casinos that don`t even have a license, don`t even disclose who they are, no company, no nothing... and they ask users for KYC... that`s absolutely hilarious! Cheesy

This is not the case only in the gambling industry. I have also seen it with various exchanges (in testing). I am of the opinion that it is only an attempt to avoid obligations and delay access to funds/winnings.
Just because of the insistence on KYC by illegal services, all other regular cases are considered jokes.

efialtis

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www.btcgosu.com

KYC is not a joke - it`s actually mandatory in every legal & regulated online casino/sportsbook etc.

It`s interesting how we crypto nerds consider casinos that request KYC as shady while the random fiat online casino player actually feels a casino is shady when it`s not requesting it... Grin

In our space (crypto gambling), sometimes it can definitely be considered a joke though... what I LOVE the most: Crypto casinos that don`t even have a license, don`t even disclose who they are, no company, no nothing... and they ask users for KYC... that`s absolutely hilarious! Cheesy

Nb. Reminds me of Roobet asking me for all kinds of personal and business-related information when they wanted me to join their affiliate program. We are talking about Roobet, that`s the guys in that fancy Curacao headquarters, right next to Stake, BC.Game, Rollbit & all the big buys. Cheesy

Guess what, they did not respond when I asked them to provide information about their UBOs... Wink

Broadanbig

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Quote from: yahoo62278 on September 16, 2023, 06:43:49 PM

KYC is such a joke honestly. I'm sure it's useful in some cases, but I think they go way too far on some of the things they think they can ask. For example, source of income??? That's none of your business. If I gamble, I am using most likely signature campaign funds and from what I think I remember reading, a certain site doesn't accept that as valid income. How much of a joke is that?

If KYC was only name address and maybe telephone number for tax purposes, I could get on board. Problem is they want a load more and it's kind of an invasion of my privacy.

KYC is indeed a joke. The casino has nothing to offer rather than playing tricks not to give the winner his or her wins. After demanding for KYC, they are demanding for source of money used to play the bet. What a joke. Then what is the point demanding for the KYC in the first place? It is obvious the casino has no money to pay or they are hiding something from the masses and their community. I will say this that if they do not have the money to pay in full, they should reach out in terms with the winner to be paid partly till they pay all in full. This is very reckless of a casino to have exhibited such cras ignorance and negligence of their duty.

Stakefast

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BLOCKXS.COM

A pretty interesting event took place, Hypedrop itself wrote a tweet about the incident:
https://twitter.com/HypeDrop/status/1704111404305785110

The rumor is the winner got in contact with a lawyer, deleted some accusation tweets and is now trying to complete the KYC.

The whole odeal is pretty insane. 4 million dollars are on the table.

What do you guys think about their decision?

This answer pretty much sums it up for me:

Lucius

legendary

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Quote from: Stakefast on September 16, 2023, 04:12:02 PM

~snip~
To this date the withdraw is blocked due to KYC problems.
bbox says he commited all KYC details, the casino demands informations regarding the origin of the deposited money (~100k)

I don't know why anyone is surprised that the casino insists that the client needs to prove the origin of the money with which he won millions? This is not about a few hundred or a thousand $, but a very significant amount that would raise red flags at any online casino or CEX. If the client has already done full KYC, I don't understand why it is a problem to show the origin of the money - unless it is money that is not from a legal source.

Any casino that does not conduct such a check could very easily be accused of not implementing AML, and could lose its license.

cicadasTR

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Quote from: notblox1 on September 18, 2023, 04:35:14 PM

Quote from: Stakefast on September 16, 2023, 04:12:02 PM

To this date the withdraw is blocked due to KYC problems.
bbox says he commited all KYC details, the casino demands informations regarding the origin of the deposited money (~100k)

KYC hell can always be used as excuse for holding coins won my players, especially if the amount of money is bigger.
I dont think this is special just for crypto world because I heard cases of people having similar problems with using fiat currencies.
I understand some type of protection is needed for everyone, but there must be better way than current KYC system.
First time I hear about Hypedrop but I never liked this type of websites.

There is regulation for nearly all onshores. There's next to none for crypto sites. Apples and oranges.

notblox1

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Quote from: Stakefast on September 16, 2023, 04:12:02 PM

To this date the withdraw is blocked due to KYC problems.
bbox says he commited all KYC details, the casino demands informations regarding the origin of the deposited money (~100k)

KYC hell can always be used as excuse for holding coins won my players, especially if the amount of money is bigger.
I dont think this is special just for crypto world because I heard cases of people having similar problems with using fiat currencies.
I understand some type of protection is needed for everyone, but there must be better way than current KYC system.
First time I hear about Hypedrop but I never liked this type of websites.

just4kicks

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3.9mil is defo life changing if used wisely, imagine u and ur future generations get scammed away from that. Instant life long vendetta there.

JollyGood

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Top Crypto Casino

Would you also consider that in a number of cases KYC would be asked as a first step in attempt to dissuade the customer/client from either getting their deposits refunded or even withdrawing their winnings?

The number of claims I read in my early days in the forum about casinos asking for KYC and then rejecting them by playing the IP address card or multi-account cheating card in order to put obstacles in the way of withholding legitimate winnings. It (KYC) probably could serve some useful purpose in some scenario but in the end it seems to be used more for nefarious purposes by casinos than the need for their security control procedure.

Quote from: yahoo62278 on September 16, 2023, 06:43:49 PM

KYC is such a joke honestly. I'm sure it's useful in some cases, but I think they go way too far on some of the things they think they can ask. For example, source of income??? That's none of your business. If I gamble, I am using most likely signature campaign funds and from what I think I remember reading, a certain site doesn't accept that as valid income. How much of a joke is that?

If KYC was only name address and maybe telephone number for tax purposes, I could get on board. Problem is they want a load more and it's kind of an invasion of my privacy.

Bitcoin_Arena

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I have seen this numerous times. It's why I haven't bothered playing in this online casinos at all lately. I would rather trade in a platform I know I have already passed KYC verification and can withdraw my winnings at any time.

This casino let you register, deposit and even play without asking for KYC but when you attempt to withdraw. This is when they block your account and ask for KYC and not just simple KYC. They will try every way to retain your winnings. This is criminal!

For example, see what some casino was asking from someone Street Selfie? Why all these crazy requirements in the name of KYC verification?

yahoo62278

legendary

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KYC is such a joke honestly. I'm sure it's useful in some cases, but I think they go way too far on some of the things they think they can ask. For example, source of income??? That's none of your business. If I gamble, I am using most likely signature campaign funds and from what I think I remember reading, a certain site doesn't accept that as valid income. How much of a joke is that?

If KYC was only name address and maybe telephone number for tax purposes, I could get on board. Problem is they want a load more and it's kind of an invasion of my privacy.

Stakefast

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I want to bring awareness to the case of @bbox, a lucky gambler who won 3.9 million $ on hypedrop.com, a case opening website.

The guy won through case battles and was extremely lucky, the website itself reposted it here:
https://twitter.com/HypeDrop/status/1672250657850499073

To this date the withdraw is blocked due to KYC problems.
bbox says he commited all KYC details, the casino demands informations regarding the origin of the deposited money (~100k)

You can watch the whole story on @bbox

Its quite concerning to see how unregulated casinos/ case opening sites try to withhold such an ammount due to imaginative "KYC regulations.
Imagine you win 3 million and you are not able to withdraw, it must be hell for your neves.

I will update this case here as soon as the story goes on.

Topic: Hypedrop.com supposedly withholding 3.9 million $ withdraw (Read 190 times)