Bitcoin Forum

https://www.cryptocoinsnews.com/india-cracking-bitcoin/

quote

Although OP could not disclose which authority he was speaking with, he did note that the authorities had some questions regarding a particular customer[/b] of Unocoin, whose information was not requested.

also one one particular thread in the forums it has mentioned that IT dept raided unocoin and took dvd with customer details.
is this true?

may be it is compulsory on exchanges to give away detail to authorities.

AFAIK, CoinSecure customer's KYC details have also been handed over to authorities as part of escrow.ms investigation. In fact, it was inevitable as escrow.ms laundered his coins by trading on CoinSecure.

coinsecure i can able to understand because it is p2p trading. also there wud hav been court order for that case for which coin secure has to agree.

but unocoin directly buy from users and sell to users. also nothing bad have happened in unocoin. in any case it is correct on their parts to inform all users that their details were given.

are the admins on this forum?or should i send an email to them asking this?
 

Coinsecure handed over details that were only relevant to that customer due to the investigation.
No other details were handed over and wont be under any circumstances unless there is a legal request to hand over.
We certainly did not provide a blanket DVD of all our customer data or anything of that sort.

I would rather flush our data than hand over blanket information to authorities.

No need to exaggerate. If u flush customer data denying a legal request to hand over blanket information to authorities, you'll land up in jail.

If it is a legal request, We dont have a problem complying.
There is a problem if this request comes without that.

hmm... its not difficult for authorities to get a legal order if they customer information from any bitcoin service locating in India.

By the way, where is Pankaj Bhardwaj now? Is he still in jail?

Every legal order has to go through our legal team and has to be a valid one.
There would have to be very grievous circumstances, if there is a request for all data.
Depending on which, Lawyers decide what our next steps are.

Not sure of Pankaj. We were not involved in any way, so nothing came up to us apart from a document request.
But I am aware, that the case is a lot more complicated involving several other crimes which I am not in a position to vet or disclose.

benson-

what it means by "relevant" to that customer? how any one else can be associate in such a crime? that person bought bit coins from coinsecure and mis used it. how anyone else can be "related" or involved in this. if some body sell bit coin to coinsecure and that person bought it for illegal purpose from coinsecure does the seller also get into trouble?

By that customer, I meant Pankaj.

got it.but what i was meant to ask was who gets "related" to one customer if that customer does something illegal?
if that customer had bought bit coins from someone through coin secure, did that other customer get into trouble?

Coinsecure is an algorithmic trading platform.
Trades get distributed across users. Am not sure what your question even means.

ok. i am asking from a general perspective.not targeting coin secure or anything :)
in your case,after he was caught,i do not understand why govt would be interest in an exchange's other customers. i do not understand what kyc detail they wanted from you apart from Pankaj's who they had caught already.

sorry benson. i misread your reply. you said you gave away only the involved person's details and that is very genuine from you. please ignore my question about coin secure.

it would be great if other exchange also told us what policy they follow.unnecessary disclosure of customer details seems like wrong to me. particularly feel concern about the dvds which uno coin gave.

Is this situation going to make trouble to Unocoin or it's customers in near future?  Is present Unocoin transactions continue without delays?

Hello,
Yes Unocoin had an query regarding a specific customer last year by authorities. Unocoin has complied to submit his KYC documents and cease that customer account after getting a legal order from the concerned department. This is about 10 months ago though. These were given out as a print out and not DVDs. This has not affected any other transactions or any other customers.

Regards

Do you mind disclosing who was this person or what he had done ? Also how are we suppose to believe our details are safe with Unocoin ?

The identity of the person cannot be disclosed. He was caught red-handed by the authorities. So Unocoin was summoned visit the authorities and was also asked to provide his KYC that was acquired while getting that user sign-up. You can read the privacy policy on Unocoin.com.

out of curiosity was he caught because it was bitcoin related or because bitcoin was only a means of his crime? i don ot understand how people can do illegal stuff while using an exchange that solely uses bank transfers. it would be good to keep everyone aware of even the bad ways bitcoin can get used.

I hope the data will remain same with Unocoin. Because its the trust that people have registered with you all and trading ensuring that it that utmost care is taken when it comes to KYC details.

As a means to do crime. Once a prospect criminal is caught, all the parties who paid him money and to whom he paid money will be summoned to give the explanation of what ever is known about this person. Yes it was through bank transfers and even bank would have got the summons to provide the KYC and any other details they can provide regarding that person. He had used westren union a while ago and those agents were summoned - like this, in this case about 35 were summoned to visit and provide what ever details were acquired regarding the person in question.

If you know what not to do with cash, then you should not do the same with bitcoin as well.

Yes as said earlier, it wont be disclosed to any authorities without having a legal notice or the request in similar procedure served to the company.