[2016-04-24] Underage User Breaking Exchange ToS Loses Majority of Bitcoin Balan

[jdebunt]

In the end, the user retrieved 3 Bitcoin from his 21.9 BTC balance on the exchange,  and the rest of the money was never heard from again. This has some people quite upset, as exchange should not make money unavailable to its users. Then again, people who store their Bitcoins on an exchange platform, especially knowing they are underage and breaking TOS, will not get much sympathy from these companies.


http://themerkle.com/underage-user-breaking-exchange-tos-loses-majority-of-bitcoin-balance/

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[1Referee]

Even if people do deposit coins on an exchange while they know that it is against the rules of that exchange to use their service as underage user. The exchange must give back his coins and trash his account afterwards. How difficult is that. But then again, who is using such an unkown exchange with quite a decent amount of coins? I would keep my coins far far away from such exchanges.

[Kprawn]

That kid still has a legal guardian... If he broke the ToS that money must go to the Legal Guardian or be placed in a trust, until the underage person becomes of age. You cannot simply take someone's

money because he is underage. It is for this reason why I never use these services, even if I am old enough to use them. I buy Bitcoin through them and then I move it through to cold storage. You

should NEVER store bitcoins on a exchange. They make the rules up as they go and can close your account, if they feel that you broke their rules in any way. Just try Bitcoin gambling through some

of these services and you will see what I mean.  

[odolvlobo]

Articles about reddit posts are stupid. Here is the post if you are really interested in the story: https://www.reddit.com/r/Bitcoin/comments/4g6u85/1btcxe_ripped_me_off/

[European Central Bank]

Never heard of the exchange. If they weren't scammy assholes they'd close the account and return the coins. Anything else makes them look like seriously bad news.