Bitcoin Forum

Just wanted to state that I have been a long time exchanger on Changelly but as of today I can no more.  First, they do require KYC but it isn?t obvious, and for those of us who have used Changelly wouldn?t suspect it any differently.  I decided to exchange 1.4 XMR -> BTC but then my exchange was placed on hold until KYC was provided.

I refused, and instead of returning the XMR (minus transaction fees of course), Changelly is holding it ransom for my personal information.  They will not release it.  By not doing so is nothing less than theft.  They have no legal basis to hold onto it as I have not committed a crime.  They do not have to execute the exchange to BTC without KYC but they do have an obligation to return the XMR back to sender if they require and the sender refuses.  As for demanding my KYC info in order to just return the XMR to sender is ludicrous.  Why would I trust a company that holds my property as ransom with my sensitive and personal information?!?  Incredibly unprofessional.

Other exchanges like ChangeHero and ChangeNow do state that they also now require KYC but if refused then they will return the coin to the sender?s address.  Other big name exchanges require KYC before any transaction can occur. 

I?m putting this out there because apparently there are a number of others with the same issue:

https://www.trustpilot.com/review/changelly.com

https://www.sitejabber.com/reviews/changelly.com

Changelly does NOT warn of KYC until after transaction is initiated.  BUYER BEWARE.

Yes I've read about Changelly on invity "KYC requested in exceptional cases. KYC required for refunds".

About ChangeHero yes, KYC is not required for refunds but be careful with ChangeNow "KYC requested in exceptional cases. KYC may be required for refunds

Thanks for the update.  I think for now on I'll just stick to an exchange.  There still are a few that don't require KYC.  The Changelly KYC ransom just caught me completely off guard as I've used them a number of times in the past. 

Sadly, most centralized exchanges/instant swaps works in a similar way. My general advise is, if your coins gets into their custodial wallet, always assume they can do whatever they want with it e.g. held it hostage until you KYC. It gets clearer when you read their terms of service.

But it's a good thing you didn't lose much op! although even with that amount, I think you could've still split it into two or three pieces. We do this with centralized swaps so that they wouldn't be able to block the entire amount we're planning on exchanging and hence minimizes the loss.

Alternatively, there are a couple no-kyc exchanges with non-custodial wallets in kycnot.me which are a lot more laxer - not to be confused with no-mandatory kyc exchanges.

hello I can help you pass the kyc if you don't want to give your document

Changelly and ChangeNOW are from the same team and they don't have good reputation in Bitcointalk.

Changelly - Illegal exchanger from RUSSIA with FAKE team (https://bitcointalk.org/index.php?topic=5034589.0)
Case with 18M Dogecoin years ago (https://bitcointalk.org/index.php?topic=1435275.msg25081705#msg25081705)
ChangeNOW scam by holding Zilliqua (https://bitcointalk.org/index.php?topic=5344863.0)

I did not follow all scam accusations against them so I don't judge anything but you should read some previous cases.

This is not a ransom but your lack of time reading the terms before you use the services. You should check their newsletter regularly if you didn’t support KYC requirements since any exchange services has the tendency to requires. Your funds is already subjected to their terms the moment you send it to them. Their ToS is publicly available for you to review it.

I will believe that they scam you if the KYC requirements is not stated in their terms and conditions before you made your deposit. 1.5XMR is already significant amount.

I get that op should've read the terms of service and whatnot but the thing is, just because they write it doesn't necessarily mean it's legally binding which is why a lot of these services have this clause:


Up to what extent is applicable to OP's case remains a mystery... One thing for sure is, op wouldn't hire a lawyer for around 200 bucks.

If you don't like anything to do with KYC then don't bother using an exchange that even mentions the word "KYC", "AML" or "Verification" in their terms of service or privacy policy. Like they always say, Prevention is better than cure.

Here are alternatives next time you want to use an exchange that won't bother you with KYC, especially the ones on top of the list - https://kycnot.me/

2 things this is beyond fucked up this is why we need a better Peer 2 Peer system that doesn't require extensive knowlege in public / private key encryption and you can provide the easy button to the masses  . . .

Next thing is what the fuck is this shitty flappybird game LMFAO! This needs to fucking go i suck at flappy bird

I have read about Changelly and their KYC on various forums. Here you can read about someone who exchanged 191 ETH, and after 239 days he has not got his money back even though he has filled out KYC.
https://www.reddit.com/r/ledgerwallet/comments/127h311/ledger_working_together_with_scamming_3rd_parties/ (https://www.reddit.com/r/ledgerwallet/comments/127h311/ledger_working_together_with_scamming_3rd_parties/)

Maybe you could help build one  ;D

To be fair, if you want a peer 2 peer system/exchange that is censorship resistant like Bisq, you are going to have to go the hard way to use it. From downloading the app, setting it up and connecting to the Tor network. Privacy doesn't come easy in the present day.

Exchanges that provide simplicity to the masses easily get manipulated and even censored by regulators. Look what has happened to Localbitcoins and Localcryptos

We must avoid using exchanges from a wallet installed, I don't know why many people do that even if it's not saved. I also often hear that exchange is always trouble in KYC, so I don't know why people never research yet before depositing or investing money. Like posting below, the user have trouble also on KYC, and always got the same answer. we cannot see from one side only, maybe the support team is not responsibility to answer many question on 1 time.

https://www.reddit.com/r/TREZOR/comments/nppr8d/changelly_com_scam_share_your_kyc_loop_story/?rdt=41020

Absolutely a ransom when not returning the XMR back to the sender's address if KYC is not opted for.  Plus, KYC should be verified BEFORE a transaction is initiated, not after.  Definitely a scam.