Topic: Rollbit has literally has thrown my money away, sending it to an FTX address - page 3. (Read 899 times)

Where the address is from/who controls the address (or, source of funds) should actually be one of the questions asked during a KYC process, especially if they are suspecting the user of violating AML.

That aside,

That is exactly my point. They don't know, and therefore they should ask before sending someone's hard earned money to potentially, the oblivion. 

Why wouldn't a company confirm that the address that they are sending the funds back to is valid and owned by the user, especially after more than one year? People lose their wallets, people forget their passwords, people withdraw from exchanges...just assuming that after 1 year the same wallet is still accessible for that same person is irresponsible at best.


What difference does it make when the person does KYC? You are asking them to sacrifice their personal and sensitive information to get their own money back. To some people, that is such an untrustworthy act, that wagering this information for the chance to get your money back might seem less worth it than the money.

Circumstances also change. Maybe the OP's circumstances changes and now he values the money enough to give his information. Whether that is the reason or not, it is his money that the company is holding for "verification" purposes. At no point does this money actually belong to the company. If he gives the information requested 1 year, 5 years, or 20 years later, the company owes the money to the user they held it from, and are obligated to giving the full amount back if the user met the requirements asked of them.

Do you disagree?

Ok, I gave your entire posts here another thorough read.

I previously dismissed your claim of not knowing why they asked for KYC because you initially sure it was for AML, and I thought you came to that conclusion from the document you submitted to them [SoW]. Assume what you said is the whole story here, given they just asked for ID and asked you to verify the ownership through logging in, I think it's safe to say it was not due to AML prevention kicking in.

However... as it turns out, the reason why they send it to your initial address is simply because it's a "pending" transaction from a year ago, being held there by a KYC requirement, and once the KYC passed, that transaction got processed and went through. I  missed one details, though, I thought it's there on your posts, but [sorry to say, I mean no offense] I am not that interested to re-read the entire thread, so I'll just ask, you did not ask to cancel this pending transaction anytime, be it in writing with their live support, email, discord, and others, or during the interview?


By the way, the reason you're being banned this time is probably because you're accessing from prohibited jurisdiction. You're a current resident of Las Vegas, Nevada; USA is one of their restricted teritories.

For verification, I never submitted any kind of documents. I just submitted my legal ID and then completed an interview with SmokeyLisa. Their interview was nothing of much they just asked some questions and made me log in and out and asked specific stuff to verify it was me.

Yeah, what made me delay the KYC was when I was told that there was nothing they could do to revert the transaction. So I waited and started thinking positively of the situation everytime I thought about it. The stories of people unlocking KYC to use their money when they needed it most was one way I thought of it as and it really helped me think better of the situation knowing one day by time I was told that they could do something I would need the money by then. So for the whole time I was hoping by time a Rollbit employee confirmed that they could do something about the pending situation I could use the money as emergency funds. I asked them in early October if they could do something about it and they said they could, and since it was at a time where I needed money I verified, it was basically perfect timing for me. I was just simply worried the whole time about how I could’ve lost $2,250 like that after completing my KYC which was the reason as to why I never KYC verified.

Wouldn't that go a bit toward counterproductive in AML? Moving away from OP's case for a few seconds, let's assume a fund by an user was a tainted fund, with full intention to ML, but backed with good preparation to pass SoW verification. When he got his fund temporary held by Rollbit or other platforms and investigated [and passed it], all he need to do is wait for one year and claimed that he's no longer has access to the originating address, provide a new address, and the tainted fund are now clean.

Or, if we want to take other scenario [not saying that this is what happened to OP as I don't know what document OP submitted, this illustration is purely for the sake of discussion], when someone caught for ML activity, they can wait for a year, then do the SoW level KYC. The platform asked for bank statement for the last couple of months, they submitted the already prepared bank statement which they have 1+ year to tailor, and once verified, proceed to above step. They didn't do the verification right away when it was asked because if they submitted it at that time, the documents might give a different result.

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I correctly summarize that the reason you delayed it is because you've been told that once you passed the KYC, the fund will automatically be processed and can not be reversed back to a balance in your account? And you changed your mind, the fund you were initially ready to withdraw are now planned to be emergency cash?

I thought I posted the reason behind the delay at least 1-3 times here prior. This was also a question rollbit actually asked me too. I remember being told by a Rollbit staff member that they couldn’t reverse the Pending withdrawal transaction meaning according to him it was forced as soon as i KYC verified (unless i was reading or remembering wrong which I remember talking to friends about it from back then too so most likely not) It made zero sense to me how they could stop a pending transaction and yet not reverse it. I asked them every once in a while if it could be reversed after. I was sad about the potential $2,250 loss at the time and this was my biggest concern throughout the ticket

As for the question, they did it without me doing any requests. I expected it to stay on my rollbit balance the whole time in the end. Their withdrawal of funds was completely random I never even requested to withdraw either prior. I have the chat logs to back it up too if you need it

I don't give blame to you for this. You are new to this forum so you are not aware of how to use it. The newbie limit is to protect the forum from spammers. It's there for a reason. There is a rule that you can not make multiple posts in a row which means until a new post by others, you can not make a new posts. So to reply everyone you can just use one post. All you do is edit the posts and add your response until a new post made by anyone else.

The difference is the timeline was not a day or two but it was 15 months [if I read it correctly yesterday]. It's a very long time to check if someone's belonging is still in their possessions before sending it back to them.

[I fixed your quote]

I didn't mean to be rude, but you do aware that this entire inconvenience can be avoided if you perform the KYC right when asked? Instead of one year and three months later? That way, when they send the fund to the originating address, the whole FTX fiasco are yet to affect anyone. May I know the reason behind this delay? It's very counterproductive, IMO, especially with "not your key not your coin" tagline.

In regards to point number 4, to further clarify, during the time they asked for KYC, your withdrawal request was stuck in "pending", got them reversed and returned to your account balance after you cleared KYC, and then...? Were you requesting a new withdrawal or were they initiating the fund transfer without you asking for it?


If you're referring to the post under the horizontal break, it's not a question for you. I replied to both you and BenCodie in single post, marked it with hr break to give more clarity.

OP, this post is to reply your posts above, universally.

First, you can "bypass" that 5 minutes per post restriction by replying everybody in single post instead of multiple consecutive posts. I'll give you an example of replying to multiple user in one post, with this post. In fact, I encourage you to do so. Consecutive posts are... frowned by moderators.

Second, to be sure we're on the same page. By "company", you're meaning to say you're working as a staff in a crypto platform, and you send your fund to rollbit from their wallet? Were you sending it yourself, or were you meaning to say you asked their financial department to send your salary to your rollbit address?

Third, I understand correctly that you got restricted since last year, were requested to do KYC since July 2022, and submitted it just around this time of the year because you think you can do it later when you needed it and you want that fund to be stored there as an emergency cash? On a gambling platform that restrict access to those fund and requested KYC?

Fourth, you were not asked or at the very least shown the withdrawal form where you can see the withdrawal address? There's no form where you're asked how much you want to withdraw etc, everything went straightforwardly: you deposited, tried to withdraw right after, got locked, one year later you perform KYC, and that withdrawal request you submitted since last year got processed, with the same amount and address?

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Considering the fact that it's probably their SOP for enhanced security [and probably govt. compliance] for suspected fund of ML, that the same practice also performed by other casino, and thus the fund was already sent out of their "pocket", how do you propose rollbit knows it's a "dead" address? That it's no longer accessible purely because OP waited more than one year to perform KYC?

Yeah, that's what I had understood and why I said you should fight for it. Not sure why that was so hard to understand for holydarkness. I'll keep an eye on this thread and I hope that you're able to get compensated for this stupid mistake. I would be pretty pissed off if a company just decided to send my money to a bankrupt, defunct and fraudulent company...or to a wallet that they could have very easily ensured was not accessible.

I'm not too good at this stuff but I hope you're right. I can confirm that I didn't approve of them sending to that address, it genuinely happened randomly with no discussion about anything of it. Razer never told me that I was banned from Rollbit either after he concluded the investigation, I had to log in first thinking it was over and then send him messages asking why and stuff. I have the chatlogs saved which I can share to you if you want (unedited, so it contains my email but its whatever)

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This whole situation has caused me a ton of stress over the past few days. I keep checking this forum every hour to few hours hoping that this can finally be resolved. All this has made me not focus well on my math class so i’m gonna spend a lot more time focusing studying than be here. I have a quiz on Thursday and an exam next week I really hope to pass. I’ll still respond 1-3 times per day since withdrawals aren’t easy but i’ll be on a lot less for my own good starting now.

What part are you misunderstanding?

If RollBit rejected the user's business and did not confirm the user's receiving address for the reimbursement, and then sent it to a dead address, that is 100% at the fault of Rollbit, and "ineedhelpplease" should fight to prove that, make Rollbit admit it, and make them pay for their mistake.


The part I called stupid is sending coins to someone's address address after over a year without confirming with them that
1. The address is correct.
2. If the address is in their control.

That is entirely stupid and therefore this loss is 100% at the fault of Rollbit for not communicating or confirming properly.

If Rollbit said
"We will send the coins to the address it came from, please confirm before we go ahead"

That one sentence would have prevented this whole thread and situation.

If they did say that and OP approved, then it is his fault. From what I am reading that is not the case.

I already agreed with the KYC/AML etc. part. The only part I disagreed with was sending coins to an address after a year without confirming the ownership of address. THAT, is stupid.

I won’t give up for now but I don’t know if I can do much sadly. Alot of people here seem to be saying that there is no hope, so I'm not sure of what to do.

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I’m quite sad about it but I have a math quiz on Thursday and an exam next week that I can’t fail. The entire rollbit thing has gotten me off track because I spent way too much time being excited to come back to Rollbit only for this whole thing to happen, causing me even more stress.

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this 5 minute per post rate limit is quite annoying. Tried responding to everyone here earlier today but I wasn’t able to lol.

I honestly thought this would be a straight quick forward case it saddens me how it all ended up like this. I just hope that this situation can be fixed. Am I like at least eligible to participate in a lawsuit FTX or something at least? (even then, the lawyer fees… for just around $6K) I’m not even sure what to do anymore other than to hope that Razer fixes this situation. I worked hard to earn this money and I always thought of the KYC lock as some sort of “emergency funds” whenever I really needed it in the future, and now that I needed it I can’t do anything because of all these unfortunate events

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From a company view they are right, but from a moral standpoint this is completely wrong. To literally everyone it is basically common sense to double or triple check where you are sending money to ensure it’s not lost or sent to the wrong person. Unfortunately from what I'm reading here from this thread, their policies apparently overrule this common sense rule, which although is extremely stupid, rules are still rules and when you sign up to sites you gotta agree with their stuff. Just sucks though. If they really cared about money returning safely to the owner they would’ve discussed it with me knowing it’s been over a year and not set up another prevention of AML. They are only correct from their company viewpoint, as rules are rules. Overall it’s still extremely fucked up that something like this happened, especially at a time where I needed to get money.

This is my first time ever getting into serious trouble with any gambling casino. In the past I’ve moved funds from the third party company hot wallet to Rollbit and my Exodus wallet. I really did trust them both equally and it didn’t matter to me at the time. I would’ve never expected some situation like this to happen. I didn't know when their investigation was going to end either. I asked for an update saying that I'm willing to participate in any further KYC, questions or interviews to help complete their investigation. They just ended it completely randomly returning my money to that address without talking to me or anything. I wasn't even told that I was suspended until I logged in myself, so for a moment I thought everything was fully completed. I also did not know that they used FTX either. They moved to their own private wallet or whatever way worked for their website where a third party can’t fuck them over in December 2022 Just an unfortunate serious of events that couldve been prevented in multiple different ways, if I thought about some event like this happening, or if SBF didn’t exit scam fraud people or if the company partnered using a different exchange company or if Rollbit didn’t have this extra layer of AML and discussed to me. There were so many possibilities but sadly this is we’re i’m at I got the worst one of all. My luck.


The entire time I was expecting to come back to Rollbit with my money in my Rollbit wallet after their investigation was completed and for a moment I even thought they were done (and didn’t inform me about my suspension) so I posted on their discord chat out of happiness only to log in and see that I was banned from their site with at the time with no context. Had I known that Rollbit would’ve sent it back to my depositing address I would’ve been telling them immediately the whole time. I had no clue this was going to happen and I wish that I knew the possibility of this prior.

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They never directly stated that it was AML but I assume it to be based upon their questions and interviews. The interview was person specific, meaning it could only be me who knew how to login to certain accounts and etc. After, they reviewed the interview and started an investigation and asked me questions, I remember one that was like "Why did you deposit from the company to Rollbit" or something. They never told me why they started their investigation, nor the interview. But based upon the situation and what they asked I narrowed it down to because it was over a year since the KYC, so they wanted to ensure it was me and the bit of suspicion from sending from there to Rollbit, which is also understandable.


Although I was locked since July 2022, I only verified KYC recently which is why it took 15 months. I always thought one day I could return to Rollbit as soon as I KYC verified and receive my money back. I also always thought the locked money could be used as part of "emergency funds" and now is the time where I need it and I can't access it because of this horrible situation. I was doing a deal with someone for an in-game item and not realizing how stupid or risky it was at the time sent the money from the companies hot wallet address to Rollbit and then withdrew almost the same amount to the person who was using a CashApp wallet which apparently gambling casinos hate. I normally sent my money from the company's hot wallet address to my own personal Exodus wallet that I have been using for years or to Rollbit since I equally trusted them both. I understand now how suspicious that can look on Rollbits side as well as how stupid it is but Rollbit NFTs were a major factor to how I was successful online so I obviously trusted them wholeheartedly with my money. I never knew something like this would've possibly happened in the end and since I'm not a thief and I was still new to gambling sites I had no idea about how suspicious it looked at the time especially the depositing and withdrawing immediately after. Combined with their questions is why I believe that they were investigating me for money laundering or theft. At the time I remember being told by a Rollbit Staff member that even if I KYC verified the funds would've been sent to him and not reverted to my Rollbit wallet. It made no sense to me, how could Rollbit stop the transaction at Pending but not return my money? So after hearing this, I didn't even want to make any attempt to KYC verify until I received an answer stating that I could get it back. I continued asking every once in a while if theres anything that could be done as well as checking up on the Rollbit community since they were still my friends.


I thought about the situation fully and understood why they did all this extra stuff, even though they never directly stated to me about why the investigation happened or anything. They just wanted to confirm that I'm the original owner and they also wanted to confirm that it was gained legitimately and they wanted to ensure that I wasn't laundering, stealing, exchanging cryptocurrencies, etc. Since they now know I earned my money in a legitimate fashion, (which Rollbit NFTs buying and reselling were also a major starting foundation as to how I started earning money online) and since they knew the situation they wanted to return it to me but unfortunately even with their good intention the bad outcome happened to me still.

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I see, thank you. I guess I could contribute to the forums a little bit to rank up. I've also answered the question below in my previous post of why it took so long.

I believe you're meaning to wrote this below?


simple answer to become not newbie is to rank up to Jr Member, for that, you'll need 1 merit. To be able to get merit, you have to make posts that people [who'll give you merit] deemed a good post.

I wonder... were you're meaning to say that you've been in process of KYC for 15 months, and that's because you're yet to submit the documents they requested for KYC?

Because... Rollbit suspected that the fund was part of AML, and after proven that it's not [it'll be held if it is], the fund will be withdrawable to the depositing address? That's part of their procedure, and Rollbit is not the only platform that apply this policy. How is it irresponsible? And I don't think they have to rectify it, they've done their part by sending the money they owed to OP.

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OP, one thing that has been bugging my mind since yesterday, I guess this is the first time I heard about an account got KYC-locked, for 15 months. What is it and why?

Don't call that a stupid process, it's a policy and every company has a way of doing things which can save guide their own action, and beside what's most stupid is to make a direct deposit from an exchange account to another centralized account, even if it is not for such a case, some things could really be taken into consideration before taking an action, even if the FTX was still to be active and account accessible by users, their could have still be a possibility that the users wallet for sending out coin is not the same as of receiving most exchanges make use of the cold wallet for payout and other wallet for receiving the OP should have also taught about this before sending out coin from an exchange.
 
As others have explained above, the casino did nothing wrong by sending out the payment to address the credit to their account. For something that took time, aside from the AML verification issue, for the casino to be sure that who they are still dealing with is the owner of the account, it's right for them to return the fund back to where it was deposited, from which they believe only the right owner will have access to it.
 
The Op made a huge mistake by not reminding the casino about receiving addresses when the issue was getting to the resolution stage. He should have informed the person in charge of the issue to allow him to choose where he wants to be paid, but I doubt if such requests could have even been accepted.

It must be a complicated case. The case was over a year ago and when a fund is sent from a custodial wallet then accident like this is obvious. Rollbit part can't be told as wrong but considering the time that was gone, it needed a confirmation of whether the address have the access or not.

We can learn a lesson from it though. It's better to send funds to anywhere from a noncustodial wallet rather then a third party custodial wallet. OP would access his money without any problem.

This shouldnt have happened to you OP,  how can they just send such a large amount like that without confirm with you that you had access to the address ??

These days alot of people use exchanges whose addresses are not controlled  by  us, even if you had used your own wallet they should confirm with you first that you still have access to the wallet

Rollbit refunding you the money is great, but its irresponsible to just send it like that.
I see holydarkness has sent a PM to Razor, i hope he will rectify this

I've sent him a PM yesterday notifying him about this case, kindly wait until he goes online and noticed my PM and hopefully will address this issue. But, I can't say they have to "reimburse" your fund. In one perspective, they've done their duty, both to you and to the govt. policy of AML. Your fund was not in their control anymore, they've paid it out. If they issued you another payment [and that's a big IF], IMO, it'll be from a good will, not because they're obligated to do it.

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Umm... what?

I understand the premise of this policy (to ensure that the company can legally prove that they rejected your business via the blockchain (deposit in, deposit sent back to same address) however there is a major flaw in it. The company must check with the user if the address is one that is accessible or provide proof of source to be able to go to another place, so that it is legally on record

This is a stupid process to not even confirm with the user that the address is one that is in their control, and to force them into issues with their custodial wallet provider by trying to request the funds from the same address that wasn't the user's to begin with.

In the future OP, use a non-custodial wallet like Bitcoin Core, Electrum, or Sparrow...if you haven't already learnt that lesson after the 1+ years.

In the meantime, do not give up on this. The way rollbit handled this was incorrect and you must fight to get the issue resolved ... The way you must do that is to prove and force Rollbit to admit that they did not handle this situation appropriately so that they rectify the issue.

I never owned the FTX account, the company of a website I was using partnered with FTX up until their expose in late 2022 and unfortunately they were the victim of their fraud and as a result lost tons of cash and they are unable to access their FTX wallets since FTX is closed for being one of the biggest crypto frauds in history. However though, I did deposit the money from the websites hot wallet address (which they used FTX) to rollbit. Yesterday, Razer sent the money back to this same address.

Whenever I did crypto transactions, especially p2p I always knew it was a common sense rule to double or triple check the address you were sending to before sending the money, and I thought the same would be done at Rollbit.


From my new understanding from this thread I wasn't fully aware of Rollbits AML Policy, especially thise one. So Razer just sent in my money back to the old address from 1 year and 3 months ago without talking to me or confirming that it was fine to do this.

I now understand that in the company standpoint it is fair especially when a user agrees to their policies.

But in the users standpoint it is completely unjustified and just saddening, especially seeing that it was sent without any agreement from both sides on where to send the money to. I can easily prove that it's me who owns my Rollbit account and can verify that the money was not stolen or laundered or anything evil. It's still extremely messed up and It actually hurts seeing crypto raise while I can't really do anything but hope and pray that Razer realizes how messed up this is and helps me. I was a loyal user at Rollbit for years and it already hurts enough being banned from their website (no arguments on that, as the website ban was on me and my past action of using "rollbit.com" and gambling bits of cash every once in a while until I became aware of the seriousness and not just sticking to "rollbot.com") but as for the money, it's still just messed man as I worked hard for it, wasn't illegitimately gained and I was always thinking of using it as some "emergency" fund and now we're at a time where I need it and cannot access it unfortunately because of the unexpected events. It hurts even more seeing it raise almost $1k today, now it's at almost $6k the last time I checked..

I found Razer's account here and I'm going to send him a message of how I feel about this and everything and just hope that he realizes how wrong this is and helps in some way, it's all I can really do sadly.

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In regards to my last message, ah great. My luck "User 'Rollbit Razer' has not chosen to allow messages from newbies. You should post in their relevant thread to remind them to enable this setting."

How to not become a newbie? Could someone send the message to him if thats allowed?