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1  Bitcoin / Legal / Re: Crypto Exchange and Anti Money Laundering Question on: May 28, 2020, 07:11:51 PM
Yeah, thank you for your comforting words.

Do you guys know if I can write off these money as capital loss for 2020?

Quote from: Yogee on May 28, 2020, 07:07:07 PM
Quote from: Jpop1988 on May 28, 2020, 06:35:36 PM
You guys are totally right that I shouldn't have trusted an unknown site.

I trusted in the first place because it :

  • use https://
  • when I am inspecting how it makes network requests in the chrome console, it's all encrypted

That being said, I agree there are many sketchy aspects about this site.

Most likely I got scammed.
Sorry for your loss. "https" just means it is safer to browse that site but nobody should use it to determine if a particular service offered is legitimate or not. It's one thing to browse but putting personal information and money is another. Even phishing sites has security protocols too.
2  Bitcoin / Legal / Re: Crypto Exchange and Anti Money Laundering Question on: May 28, 2020, 06:35:36 PM
You guys are totally right that I shouldn't have trusted an unknown site.

I trusted in the first place because it :

  • use https://
  • when I am inspecting how it makes network requests in the chrome console, it's all encrypted

That being said, I agree there are many sketchy aspects about this site.

Most likely I got scammed.
3  Bitcoin / Legal / Re: Crypto Exchange and Anti Money Laundering Question on: May 28, 2020, 05:45:14 PM
Sure. Here is the site (https://www.icejy.com/#/). I cannot find any information that either verify its authenticity or flag it as scam.

Quote from: seoincorporation on May 28, 2020, 05:26:41 PM
It would be nice to know the name of the exchange, that way we could help you better.

First of all, when you use a new exchange verify it's listed under:

https://coinmarketcap.com/rankings/exchanges/

That's a nice reference, and if the business is a scam, the site will tag it. And another nice reference that site gives to us is the capital of the exchange, i would not recommend to use an exchange who was a low capita.

The second step is to google the name of the exchange followed with the word 'Scam', that way you will find if it has any scam accusation.

Think it two times before giving all your info online, it could be used to open accounts in real exchanges, and there you will be involved in a real case of money laundering.
4  Bitcoin / Legal / Re: Crypto Exchange and Anti Money Laundering Question on: May 28, 2020, 05:10:19 PM
Hi, thank you for the reply. It's a small foreign exchange that most people wouldn't know about.

Do you happen to know how the AML verification process goes? I am trying to see if I can proactively contact the corresponding US agency to help speed up my case.

Quote from: LeGaulois on May 28, 2020, 04:34:31 PM
I find it a bit abusing to call it withdrawing a large sum too frequently, you did it twice only and for a low amount ($200). They can do it for the sake of the AML/CFT regulatory compliance and the customer identification program but it seems strict here.
What is the platform you're talking about?
5  Bitcoin / Legal / Crypto Exchange and Anti Money Laundering Question on: May 28, 2020, 04:09:48 PM
Hi Community,

Due to a friends' referral, I was trading Bitcoin contracts with leverage at a foreign exchange. The exchange felt legitimate at the time because it requires KYC, and I had to provide my driver license and bank information.

When I first tried to withdraw money, I was able to withdraw $200 twice successfully. However, when I try to withdraw $5000 or $10,000, the exchange rejected my requests. After contacting their customer support, I was told that they flagged my account as suspicious money laundering activity because I was withdrawing large sum of money too frequently. They also said that they submitted my info to a US agency to validate my identity in order to verify that I am not involved in money laundering.

This is where I started to become suspicious about the exchange. Can anyone with related experience please help me to verify the authenticity of what this exchange has told me.

One thing that is reassuring is that I can see the address that the exchange used to send me the $200 is still actively sending money out to other addresses as shown (https://omniexplorer.info/address/15TQfsj6frgTZPyvL8AuqsmXhhvXGq6rZn). I am assuming that these are real withdraw transactions.


Thanks,

Jason
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