Bitcoin Forum

Thank you for filling out our KYC form. We have received your transaction request.

However, before we can properly process your currently pending transaction request, we ask that you elaborate further on the origin of the cryptocurrency deposited to your account, as well as provide us with information and documentation which can confirm your statements, such as bank deposit slips showing deposits to other exchanges, purchase logs, trading history, withdrawal history, or any other documentation relevant to your crypto origins.

Additionally, we ask that you elaborate further on your answer in our KYC form regarding your intended activities on our platform being related to online gambling activities.

Thank you for your reply. We have received your transaction.

However, before concluding this procedure, we ask that you provide us with some financial documentation, which can confirm how the funds you used to purchase your initial cryptocurrency acquisitions, that you used in your gambling activities, was acquired or accumulated, such as a salary pay slip, tax revenue statement, investment portfolio or similar. We also kindly ask that you elaborate on how your winning are reported as your taxable income and provide us with your most recent tax statement.

We also ask that you provide us with screenshots showing your initial cryptocurrency purchases and provide us with the relevant addresses where your initial cryptocurrency was deposited.

Additionally, we ask that you provide us with an estimated amount that you would be depositing/withdrawing to/from your Bitstamp account per year (in USD and BTC)?

Continuing with this KYC procedure, before we can process your transactions, we kindly ask that you elaborate further on these BTC that you held for several years, and elaborate on their origin by providing us with documentation which can confirm how the crypto was obtained, such as purchase logs, trade logs, purchase confirmation emails or similar. We also kindly ask that you provide us with your initial addresses that you used during your crypto activities as well as provide us with a few screenshots showing the withdrawal of the crypto to Fortune Jack.

If at all possible we also ask that you sign your initial addresses, that you used during your crypto activities, with a message containing this ticket number, where the "address", "signature" and "message" are clearly separated by quotation marks.

We ask you to submit your documents in PDF, JPG, PNG format in a reply to this ticket.

Thank you for your cooperation and we look forward to your reply.

Best Regards,
Jernej T.

That's a lot of information they're demanding lol. Unfortunately, it looks like they're just doing the typical AML procedures to make sure you didn't get your BTC somewhere illegal or whatever. Though it's understandable how annoying this is. Unfortunately it looks like you have no choice but to do some digging on your gambling accounts and on your bitcoin wallets. 10 BTC is no joke.

Unfortunately, another perfect reason to not unnecessarily leave funds on exchanges.

They definitely don't want to give back the bitcoins that's why they are asking for things that they definitely know you are unable to provide. How can you ask someone to provide the origin of the bitcoins that they deposited on the website, it's really absurd.

Are those coins really from FJ casino or did you hide the details here about tainted source coins that you had be dealing with and used FJ as a "mixing" mode or a transit wallet to cover up your tracks? Most of the newbies posting such threads, I would not trust without having head both sides of the story. Bitstamp has been here for long time and them asking KYC with such strict details does make me wonder what juicy information they have obtained on the coins.

You may try to present a story in your way of describing but this is what I suspect has happened.

They will continue to harrass you and requesting your grand ancestors grand parent of the sibling of the boss of the name and the every valuable information they can harness, when you keep your btc in their hand, it’s not YOURS anymore, be prepare to be asked to do all the demand they want from you, they may even ask for a copy of your nude photo LOL.😂

Sadly, these are the standards that exchanges are forced to adhere to, to even be able to operate, and it does just seem like regular AML practices that the exchange needs to adhere to.

It's around 100,000 or so USD, and any exchange would be pretty tight about that money and they need to know exactly where the funds came before they are able to help you move the funds, unfortunately they'll need a shit ton of your details and it's almost normal practice.

Next time, I recommend you just go p2p transactions and don't touch exchanges at all, so your money can't get frozen.

Hello. I have had a couple btc since about 2014 and mainly use bitcoin for gambling and poker activities.
In April this year I had a big win at fortunejack about 30 btc
I deposited 16 btc to bitstamp. Sold 6 and left 10 btc in there
Few days ago went to sell the rest and they've frozen it and thus begins this following conversation by support tickets::


My response I sent screenshots of my win at fortunejack and an email from fortunejack detailing my withdrawal

They then reply this...

To which I reply:I do not have any of this information, I have had a few bitcoin for many years, and earlier this year I had a big win on fortunejack casino like shown.
You are asking impossible things.

Then they reply this:

I am basically shocked and do not know how to proceed.. They are clearly just wanting to keep my money, asking these impossible things.
Does anyone have any advice

I understand what you're saying. But then what is the meaning of decentralization? Anyone can somehow own 16 BTCs. I know we're talking about a big amount, but it's inconceivable to ban a person's account for that.

I would like to update this thread now as I am EXTREMELY lucky they have made a mistake.
I told them I'm consulting a lawyer and to cancel my pending withdrawals as they were insistant on these informations.
Then somehow (even though they told me no transactions will be processed until they receive these) I did an XRP ripple withdrawal and it was processed instantlyl

Big oops for them and a big relief for me

So you pretty much just sold the BTC for some XRP and you were able to withdraw them? If that's all it took then that's one hell of a amateur loophole on their side lol.

I would like to update this thread now as I am EXTREMELY lucky they have made a mistake.
I told them I'm consulting a lawyer and to cancel my pending withdrawals as they were insistant on these informations.
Then somehow (even though they told me no transactions will be processed until they receive these) I did an XRP ripple withdrawal and it was processed instantlyl

Big oops for them and a big relief for me

Yes. Now watch xrp depreciate overnight massively 🙄🤣

Thanks yes. They did reply this after I asked they cancel the frozen withdrawal::
Thank you for your reply. As per your request, your pending withdrawals have been cancelled.

Please note that, in order to properly process your future transactions, we are going to have to require you to provide us with the previously requested information and documentation.

We look forward to your reply.

Anyway, let this thread serve as a warning to anyone using exchanges that unless you have a complete evidence trail of where your coins are from you are liable to lose them

This is a common occurrence from huge exchanges complying to AML regulations set in place. Heck, even in small sum withdrawals, if you exceeded the exchange's low limits, you'd be asked on where did your funds came from, and you'd be put in this tedious task of asking your bank for statements some few months (or even years) ago and the exchange will decide whether you have the capacity (or the 'weight') to trade those sums. Good thing that they do not really see how things work on their end and you managed to get past this annoying verification through XRP. I didn't know XRP has some uses after all!

Some people use DOGE to transfer coins between exchanges, although I think Bitstamp doesn't have that trading pair. So where did you move the XRP to and did you trade it back for BTC or another coin?

Thanks yes. They did reply this after I asked they cancel the frozen withdrawal::
Thank you for your reply. As per your request, your pending withdrawals have been cancelled.

Please note that, in order to properly process your future transactions, we are going to have to require you to provide us with the previously requested information and documentation.

We look forward to your reply.

Anyway, let this thread serve as a warning to anyone using exchanges that unless you have a complete evidence trail of where your coins are from you are liable to lose them

Bitstamp has been here for long time and them asking KYC with such strict details does make me wonder what juicy information they have obtained on the coins.

You may try to present a story in your way of describing but this is what I suspect has happened.

That's a lot of information they're demanding lol. Unfortunately, it looks like they're just doing the typical AML procedures to make sure you didn't get your BTC somewhere illegal or whatever.

No bleedin' WAY is that typical. I've run plenty of stuff through Kraken and not once have they ever asked for anything other than the initial ID and proof of address and that was about four years ago now. I've never heard of Coinbase asking for any extra intrusive info. They either let you play or tell you to sod off. There's no hostage taking.

Bitstamp seem to specialise in asking for stuff that I've never, ever heard any 'real' financial institution asking for. Why the fuck would you give that to a bunch of anonymous Slovenes?

OP was not clever using open gambling funds. Most exchanges would've given him the boot for that. Good on him for getting one over on them.

No bleedin' WAY is that typical. I've run plenty of stuff through Kraken and not once have they ever asked for anything other than the initial ID and proof of address and that was about four years ago now. I've never heard of Coinbase asking for any extra intrusive info. They either let you play or tell you to sod off. There's no hostage taking.

Bitstamp seem to specialise in asking for stuff that I've never, ever heard any 'real' financial institution asking for. Why the fuck would you give that to a bunch of anonymous Slovenes?

OP was not clever using open gambling funds. Most exchanges would've given him the boot for that. Good on him for getting one over on them.

No, this is normal for bitstamp, they have been asking similar questions for >5 years now. Other exchanges are catching up with their intrusiveness. It's better to take your time to find a trustworthy person to make an exchange in-person.

Bitstamp has been here for long time and them asking KYC with such strict details does make me wonder what juicy information they have obtained on the coins.

I'd say it's typical, but I'd agree that it's just blown way out of proportion concerning the data they're asking for. While other exchanges might not be doing these sort of stuff, the hostage taking of funds is really not that rare based on my experience(not personally, based on what I've been reading throughout the years on various bitcoin communities). My guess, they're probably just trying to give out a bit of fear due to OP getting the funds from gambling. I mean, they immediately gave in when OP mentioned lawyers and stuff lol; so I don't think they probably intentionally made the data collecting mandatory.

So in short those kind of requirements are just a test if the user would decide to forget those funds that he have? No surprising on any service on this market where
selective scamming or hold-up of funds into some number of users.If they do easily admit and processed out the withdrawals after mentioning some legal aspect then
you cant really avoid not to be suspicious with their modus.

Nah. It's more of fear mongering in the hopes of probably OP stop depositing funds from gambling sites(because most exchanges doesn't like this). If Bitstamp would be to attempt to start such a modus, for a business as big as their size, I'm pretty sure they wouldn't be attempting to grab 10 BTC. If they would attempt to do so, it would definitely be a lot bigger than 10 BTC.

No, this is normal for bitstamp, they have been asking similar questions for >5 years now. Other exchanges are catching up with their intrusiveness. It's better to take your time to find a trustworthy person to make an exchange in-person.

No one can be 100% trustworthy. I have seen vendors in Localbitcoins selling their old accounts to scammers and the latter using them to con unsuspecting users. EVen I had a few bad experiences with LBC, and my coins were returned only after I contacted the LBC admins. If you are talking about face-to-face transactions, then they are not only risky, but unsafe as well.

No one can be 100% trustworthy. I have seen vendors in Localbitcoins selling their old accounts to scammers and the latter using them to con unsuspecting users.

Why do they care that this was your gambling winnings? They are not the prosecutors nor the police, they have no proof of any wrongdoing on your side.