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I recently encountered a disheartening situation while using the cryptocurrency exchange platform CEX.IO. Having been a user for approximately six months, I initially had a positive experience. However, when I attempted to withdraw my funds, things took an unexpected turn.
Here’s a summary of my experience:
Account Verification: I verified my account, following all the necessary steps. My account was fully verified, and I met all the requirements.
Withdrawal Request: When I requested a withdrawal, I encountered roadblocks. Despite having a verified account, CEX.IO asked for additional steps:
-Video Verification: I was asked to provide video verification using my ID card.
-Selfie Verification: They required a selfie verification.
-2FA Activation: I activated two-factor authentication (2FA) as requested.
Screen : https://imgur.com/a/DYasI0b
Withdrawal Denied: Despite completing all the requested verifications, my withdrawal was not allowed. The funds remained stuck, and I received no communication from CEX.IO regarding the issue.
I reached out to their customer support multiple times, but the responses were vague and unhelpful. Waiting for over a week without any resolution is unacceptable, especially when dealing with an established exchange.
As a trader, I rely on exchanges to handle transactions efficiently. Unfortunately, this experience has eroded my trust in CEX.IO. I urge them to improve their withdrawal processes and provide better communication to users facing similar issues.
*This is my first forum post and I wanted to find a place to share my experience
Here’s a summary of my experience:
Account Verification: I verified my account, following all the necessary steps. My account was fully verified, and I met all the requirements.
Withdrawal Request: When I requested a withdrawal, I encountered roadblocks. Despite having a verified account, CEX.IO asked for additional steps:
-Video Verification: I was asked to provide video verification using my ID card.
-Selfie Verification: They required a selfie verification.
-2FA Activation: I activated two-factor authentication (2FA) as requested.
Screen : https://imgur.com/a/DYasI0b
Withdrawal Denied: Despite completing all the requested verifications, my withdrawal was not allowed. The funds remained stuck, and I received no communication from CEX.IO regarding the issue.
I reached out to their customer support multiple times, but the responses were vague and unhelpful. Waiting for over a week without any resolution is unacceptable, especially when dealing with an established exchange.
As a trader, I rely on exchanges to handle transactions efficiently. Unfortunately, this experience has eroded my trust in CEX.IO. I urge them to improve their withdrawal processes and provide better communication to users facing similar issues.
*This is my first forum post and I wanted to find a place to share my experience
Hi there. As a regulated financial institution, CEX.IO is obligated to adhere to strict verification procedures to ensure compliance with regulatory standards. Our Terms of Use (https://cex.io/legal/terms) outline the necessity of additional verification steps, even for users with fully verified accounts, to uphold our AML/KYC policies and regulatory requirements. Specifically, Section 12.4 of our Terms of Use (https://cex.io/legal/terms) states: "CEX.IO has also the right to request the User to provide additional verification documents even if the User has already passed the verification process to ensure the effective implementation and enforcement of CEX.IO’s AML/KYC Policy and applicable regulatory requirements. If the User does not respond to such requirements in a timely manner CEX.IO has a right to limit its services or to stop providing them until requirements are met."
Regarding your specific case, please note that without receiving your user ID or specific details, we are unable to provide insight into the status of your case.
Additionally, we would like to address your concerns about social media engagement. While we strive to provide support and assistance through various channels, spamming or violating community rules may lead to account restrictions. We urge users to communicate with us directly via DM or comments to address any issues effectively.
Thank you for your understanding, and we hope to resolve this matter promptly.
I appreciate your attention to topic. I firmly believe in right to freely express and share my personal experiences. The impression that my actions were misconstrued as spam and that my account faced potential restrictions was quite distressing. I am hopeful that this was a mere misunderstanding.
I have diligently complied with all requested verification steps as outlined in your Terms of Use. Therefore, I expect the timely release of my balance as per verifications already completed. I trust that there will be no further delays or excuses in this matter.
Please proceed with release of my funds at the earliest convenience.
