Scam exchange. It deactivated my account without any reason. No email notification, nothing. Just boom, your account is deactivated.
This is an extremely import thing. Please expound on what happened.
if it has to do with IP address, or KYC or lots of trading or whatever it doesn't matter. What does matter is that this kind of thing should not happen. This is people's money we're dealing with here.
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And, THIS is why I am against centralized exchanges, especially ones that have a strict KYC policy. KYC is nothing more than the old banking and government system of controlling your money.
"We are forcing you to give us all your information in order for you to work with your own money.
We do this to 'protect' everyone from all the 'bad guys.'
If you do not give us whatever information we ask you for WHEN we ask you for it? Your money is then ours."
PEOPLE! Do NOT support and use these kinds of exchanges. This is NOT what CRYPTOcurrency is all about.
If you are not holding your OWN funds in your OWN wallet, and are using an exchange that can just shut down your account for whatever reason they deem necessary, then you are
NOT SAFE.
If you do what I said above?
You will be stolen from and given whatever reason the exchange wants to give you (or will lose funds when the exchange gets hacked),
and will have lost out on Your Own Money.
EDIT:
Just went to their site and found this...
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11.4. The Company strongly advises the User to provide correct and relevant information. In case the data provided by the User is incorrect or unreliable he/she can become subject for investigation as a suspect in the fraudulent activity.
11.5. The User agrees and authorizes the Company to, directly or indirectly (via a third party), undertake the necessary checks and inquiries concerning the accuracy and truthfulness of the information provided. It is hereby clarified that all KYC requirements of the Company are in accordance with the laws of Singapore.
12. Anti-Money Laundering Policy
12.1. The Company is proud to and maintains to the best of its abilities the highest standard of control and KYC processes. In order to further reduce the risk of fraud, money laundering and financing of terrorist activities and comply with the Anti-Money Laundering ("AML") rules, COSS tracks each User's transactions and data within the Platform. In order to follow the AML rules, the Platform has the following setup mechanisms:" Collecting the information about all login attempts and IP addresses from users; " Screening for and reporting multiple accounts registered by the same user by comparing names, addresses and IP addresses; " Collecting trading history, deposit and withdrawal addresses from all users.
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Tracking tracking tracking tracking tracking... NO. NO. NO.
