New exchange BTCNext is using KYC as an excuse to STEAL users funds

plastick

member

Activity: 203

Merit: 30

Quote from: Mikelius on April 26, 2021, 03:45:17 AM

Hello. Unfortunately, we have just seen your messages, do you have any problems using our exchange at the moment? We will send you a personal message, please specify your email address there, for the fastest possible solution of problems.
We are the BTCNEXT exchange, we have been working with users of Japan and Southeast Asia since 2018, and we value our reputation.
Please contact us.
Thanks

Yes you can help me by explaining why you think its ok to accept user funds without KYC but you refuse to let them withdraw without it. Holding users funds hostage so you can get their private information and steal their identity is very scammy. Why don't you try reading the thread before offering "help"? Why do you want to talk about this private? Afraid everyone will see what you say?

This is why centralized exchanges are going away. Defi will destroy you.

Mikelius

member

Activity: 153

Merit: 10

Hello. Unfortunately, we have just seen your messages, do you have any problems using our exchange at the moment? We will send you a personal message, please specify your email address there, for the fastest possible solution of problems.
We are the BTCNEXT exchange, we have been working with users of Japan and Southeast Asia since 2018, and we value our reputation.
Please contact us.
Thanks

plastick

member

Activity: 203

Merit: 30

Here is an email they sent me:

Code:

Dear Valued Trader,

We have reviewed documents submitted by you in our KYC form and in order to pass the verification process we require additional information regarding the source of funds for your latest transaction on the exchange:

The source of funds report has to describe all actions you have performed with these funds before sending them to BTCNEXT, e.g. purchasing, exchanging, transferring from one address to another.

Kindly present the chain of events in chronological order. Please attach full-display screenshots, which will confirm each step.

Note that screenshots of public blockchain explorers data are not accepted. Please provide the screenshots of your actions on the crypto services that you have used.

For example, in case you have obtained these funds on another crypto trading platform, please provide us with the full-display screenshots of your deposit, trading and withdrawal history on that platform, so that the transaction history of the funds would be clearly displayed.

Please note that we need to see detailed information (hash, address) for each of the mentioned transactions.

Kindest regards,

your BTCNEXT team.

My reply

Code:

None of your business.

I mean really, if they want to know so badly, it's not like they can't figure this out on their own. It's a public blockchain.

Slow death

legendary

Activity: 3234

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: plastick on August 30, 2019, 03:27:44 AM

Well I ended up getting my funds but only after posting this thread and showing it to them. They said if I could prove where I got the coins they would release my funds, which I did.

They know this forum has a lot of potential clients and having their image dirty here in this forum shouldn't be a good move. they still have some common sense

Quote from: plastick on August 30, 2019, 03:27:44 AM

Just strange that it seemed like their story kept changing and they kept giving me different reasons why they wanted to KYC me.

This may be a great indication that they wanted to keep your coins. Unfortunately this is a practice that many exchanges have done. That's why we need clear laws on crytos and exchanges must be inspected by governments and must have a license and physical office.

plastick

member

Activity: 203

Merit: 30

Well I ended up getting my funds but only after posting this thread and showing it to them. They said if I could prove where I got the coins they would release my funds, which I did.

Just strange that it seemed like their story kept changing and they kept giving me different reasons why they wanted to KYC me.

Quote from: Slow death on August 30, 2019, 03:10:48 AM

I understand that it is not easy to deliver documents to people on the Internet, because most of these websites are not licensed, they do not have any documents that allow them to collect documents from other people. In your case it seems to me that the owners of this exchange can be found here:

https://www.linkedin.com/company/btcnext-official

Linkedins can be faked. A lot of scams posted in here had linkedins that looked legit too.

I agree, I think if they want to ask for KYC they should be properly documented as well.

Slow death

legendary

Activity: 3234

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: plastick on August 29, 2019, 11:39:57 PM

Not going to hand over my personal information to a bunch of criminals to sell on the darkweb.

I understand that it is not easy to deliver documents to people on the Internet, because most of these websites are not licensed, they do not have any documents that allow them to collect documents from other people. In your case it seems to me that the owners of this exchange can be found here:

https://www.linkedin.com/company/btcnext-official

there are pictures of them on this link, so you already know who the owners are and you can do KYC

Quote from: plastick on August 29, 2019, 11:39:57 PM

They claim "Yes, we need to know, where did you take so much Noah coins?" Since when was it any of their business? Furthermore if they really wanted to know that they could just look at the transactions. They are using KYC as an excuse to keep funds on their exchange. Also, I didn't even take any noah coins, I BROUGHT IN over 11 MILLION of them so he was just making it up.

If they want KYC/AML they should be doing that BEFORE people deposit their funds, not as an excuse to keep them.

It looks like you don't have good options for trading Noah coins:

https://coinmarketcap.com/currencies/noah-coin/#markets

do KYC and withdraw your coins

examplens

legendary

Activity: 3472

Merit: 3507

Crypto Swap Exchange

Seems you have a two-choice now. You can pass the KYC procedure and try to withdraw your funds, or forget for your coins and this exchange and accept the loss. I agree with you, this exchange does not seem to be trustworthy and give them your personal information but how you believed them and sent that amount to no-name exchange?

Quote from: EliseWatoson on August 30, 2019, 02:11:37 AM

I don't know about you guys, but I always find it weird whenever a project or exchanges registers its domain for only one year - I'd be more inclined than not to think that it's shady. And btcnext's domain is only registered for one year too.

Also, they use whois privacy to hide domain ownership, it is not a good practice for any public service.

EliseWatoson

newbie

Activity: 17

Merit: 3

I don't know about you guys, but I always find it weird whenever a project or exchanges registers its domain for only one year - I'd be more inclined than not to think that it's shady. And btcnext's domain is only registered for one year too. https://imgur.com/a/frVmLL3

plastick

member

Activity: 203

Merit: 30

Quote from: CryptopreneurBrainboss on August 30, 2019, 12:22:43 AM

i will suggest you comply to any directive they propose and get on with the KYC, that's the only way to get your funds.

Also did you read the exchange Terms and conditions before signing up? Most exchanges have, the request of KYC verification at any even time as one of their T&C.

That doesn't mean they can keep your funds. I told him release my funds and I just won't trade there, but he would have none of that.

And thanks, I fixed the link

CryptopreneurBrainboss

legendary

Activity: 2478

Merit: 4341

eXch.cx - Automatic crypto Swap Exchange.

That's the trick most of this KYC stealing scammers disguise as exchanges used to steal users personal details. They purposely allow customers to deposit and trade without verifying their identify through KYC then the moment you try withdrawing even funds below 1 BTC they tie you down with KYC procedures. Understandable (source CMC) your fund on the exchange are worth ~$4400, i will suggest you comply to any directive they propose and get on with the KYC, that's the only way to get your funds.

Also did you read the exchange Terms and conditions before signing up? Most exchanges have, the request of KYC verification at any even time as one of their T&C. BTW, the reference exchange url you provided above isn't working.

plastick

member

Activity: 203

Merit: 30

Exchange: btcenext.io

They are making up bullshit excuses in order to keep my cryptos. They only did this AFTER I had made many deposits and accumulated a decent amount from trading.

They say they will not release my cryptos if I do not give them my personal information.

Not going to hand over my personal information to a bunch of criminals to sell on the darkweb.

They claim "Yes, we need to know, where did you take so much Noah coins?" Since when was it any of their business? Furthermore if they really wanted to know that they could just look at the transactions. They are using KYC as an excuse to keep funds on their exchange. Also, I didn't even take any noah coins, I BROUGHT IN over 11 MILLION of them so he was just making it up.

If they want KYC/AML they should be doing that BEFORE people deposit their funds, not as an excuse to keep them.

Topic: New exchange BTCNext is using KYC as an excuse to STEAL users funds (Read 234 times)