Tradesatoshi - BEWARE! Blocking without reasons.

[coin-investor]

Oh, how do you like the looks of this, 3 of the most vocal accounts defending Trade Satoshi all "woke up" recently to ridicule people who got locked out of their exchange. They also all reply to comments by typing above the quoted text, which as I mentioned early, almost nobody does... What a weird coincidence:







I'm almost certain they are all operated by the trade-sa-to-shi account.

Thank you for pointing this out with screenshots.

Plenty of scammers have certain patterns in common.

Some use newly woken accounts (which are purchased to be used as sock-puppet accounts) are used for posting propaganda to back-up the scammers. They are used because those with some merit, status and age might give a sense of respectability to their views in the threads.

Usually most sock-puppet accounts are posting so much propaganda that they give themselves away.

I'm glad that this is mentioned I totally shut out Tradesatoshi to my list because their reputation is already ruined they might resort to this kind of shilling tradesatoshi, this is an old tactic to deceive people that the site is legit or still legit.

[1714782768]

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[AmoreJaz]

TradeSatoshi has been sending payment for withrawals of  BTC with absolute minimum possible transaction fee. making sure that the transaction goes unconfirmed and better yet they even double spend on those transactions.
they have been sending trxid with  
0.25 sat/WU - 1 sat/B


just one of the proofs of them is here... you can follow the trail and find they have been doing this for almost a week now!



https://www.blockchain.com/btc/address/1APuKMiXr89n5rb9iUKqcrAZ5jiQ6SFmoo
https://www.blockchain.com/btc/address/1A5FjoJzYpY674bZtENAg4Sy5ae7MGrEMr
https://www.blockchain.com/btc/tx/7976eb6ac462d751d7495c64f2c2f5950d80fa662304630d1b6ac28e8356ae9d
https://btc.com/7976eb6ac462d751d7495c64f2c2f5950d80fa662304630d1b6ac28e8356ae9d

[CryptoCracker]

Hey, more amusing news. One guy, whose account was locked also, decided to send them his ID. The result was awesome:



As i said earlier, if you had not filled in your account details with the real name on the stage of registration, you won't pass the KYC: "Your ID details is different in your Account details". And the fields with name, surname, date of birth are read-only, lol. Bingo: your balance is "legally" stolen! Spread the word, please.

Those scumbags. The best is they lock the field so if you signed up with a different name, they can steal your funds at anytime. Sadly no justice will be done. Just be careful with exchanges. I wish the owners scammer of tradesatoshi all the worst in the world. Karma. I hope he gets his.

[JollyGood]

Oh, how do you like the looks of this, 3 of the most vocal accounts defending Trade Satoshi all "woke up" recently to ridicule people who got locked out of their exchange. They also all reply to comments by typing above the quoted text, which as I mentioned early, almost nobody does... What a weird coincidence:







I'm almost certain they are all operated by the trade-sa-to-shi account.

Thank you for pointing this out with screenshots.

Plenty of scammers have certain patterns in common.

Some use newly woken accounts (which are purchased to be used as sock-puppet accounts) are used for posting propaganda to back-up the scammers. They are used because those with some merit, status and age might give a sense of respectability to their views in the threads.

Usually most sock-puppet accounts are posting so much propaganda that they give themselves away.

I'm glad that this is mentioned I totally shut out Tradesatoshi to my list because their reputation is already ruined they might resort to this kind of shilling tradesatoshi, this is an old tactic to deceive people that the site is legit or still legit.

Many businesses use sock-puppet accounts to create fake buzz and hype in order to fool the reader in to thinking it might be a genuine business but selective scammers are very cunning.

I am glad you and many others have stopped using Tradesatoshi

[CryptoCracker]

This case looks really shitty, I have not used them and never will. I hope you lost a little bit because you will not return your funds. They will find any reasons to keep your funds until you get bored with the battle with them. I recommend that you start using exchanges without registration that do not store funds.

Yes unless you want to trust a scam exchange with your passport and KYC documents they will just steal your funds.

They most likely knew what accounts signed up with an alias or variation of their name and email and locked all those accounts so you have no way to get your money out. Even if you give KYC, they will say names don't match exactly.


best response "in order to prevent fraud and scams". Actually it is in order for them to scam and as they see it "legally" defraud accounts there since there new updated terms and conditions say they can do anything....and they are not regulated.


I hope these threads keep as many noobs or crypto enthusiasts away from Tradesatoshi. DO NOT USE IT.



Sender: MODChris Created:

Hi XXXXX,
We apply the KYC procedure when we detect suspicious transactions on a client's account to make sure the funds are safe and that it's not being used for fraudulent activity. It's a common practice for the financial institution.
We may ask for KYC in some cases. For example, if suspicious activity is detected by our risk scoring system, especially after hacks on trading platforms. These measures are taken in order to prevent fraud and scams. Yet we warn our customers in advance about upcoming KYC checks.
We may ask for KYC in some cases to fight financial crime, money laundering and terrorist financing
KYC established because we want to ensure customer’s verification processes and to mitigate fraud, money laundering, scams and financing of terrorism.
KYC rules are designed to prevent the laundering of money and the financing of terrorism.
KYC compliant processes eliminates the concerns of money laundering and terrorism financing
Kind regards,
Mod Chris

Standard Trade Satoshi response to all users (say KYC more in that message )


All reasons above are BS. I guess the recently unregulated and once legal but now dissolved UK based business tradesatoshi is now really worried about saving the world.


I suspect users they targeted were holding BTCP (another scam riddled coin but that is another post all together) and they either don't have them or want to steal them...it's easier. Plus they can steal the rest of your coins using KYC as a reason.

(Don't believe me, they locked accounts then delisted BTCP- I see complaints that withdraws on working accounts were 1 BTCP, a day or two later, all of a sudden it costs 50 BTCP to withdraw funds.. that is if they did not lock your account).



STAY AWAY from TRADESATOSHI

[nutildah]

Tradesatoshi Ltd is incorporated in Hong Kong according to its terms:

OK it looks like I missed this earlier, but I still don't think its good business for an exchange to suddenly impose KYC on everybody and then lock customers out of their accounts for refusing to comply. Every other exchange that has done this:

1. gives the customers the chance to withdrawal their funds, or
2. allows the customers to change the information they entered to match the supporting documents they are uploading

Their terms and conditions are largely plagiarized from another exchange, Bitexlive, but even after their March 12 update, nowhere does it say anything about KYC or users having their accounts frozen for failing to comply with KYC.

I've been a customer of Bittrex since 2014 and they've never asked for my KYC. I used them as recently as today.

Regardless of their legal status, Binance is the #1 exchange for good reason: they are considered trustworthy and they value the business of their customers. Yes, this could all chance tomorrow, but in this industry the only thing exchanges really have is reputation. Binance has a lot, Trade Satoshi has none.

Even well-regulated exchanges like Gemini or Coinbase could get hacked tomorrow -- its just a risk inherent in the business.

But to screw customers over like Trade Satoshi does by raising withdrawal fees to ridiculous amounts and then mock them for not wanting to comply with suddenly-imposed KYC shows how much respect for them, which is not much.

[g1itch]

Tradesatoshi Ltd is incorporated in Hong Kong according to its terms:

OK it looks like I missed this earlier, but I still don't think its good business for an exchange to suddenly impose KYC on everybody and then lock customers out of their accounts for refusing to comply. Every other exchange that has done this:

1. gives the customers the chance to withdrawal their funds, or
2. allows the customers to change the information they entered to match the supporting documents they are uploading

...

Not every. See bittrex thread for example.

[nutildah]

Tradesatoshi Ltd is incorporated in Hong Kong according to its terms:

OK it looks like I missed this earlier, but I still don't think its good business for an exchange to suddenly impose KYC on everybody and then lock customers out of their accounts for refusing to comply. Every other exchange that has done this:

1. gives the customers the chance to withdrawal their funds, or
2. allows the customers to change the information they entered to match the supporting documents they are uploading

...

Not every. See bittrex thread for example.

Like I said, I've never once had a problem with Bittrex in the 5 years I've been using them. This was OP's last post about Bittrex:

I was wrong totally and the issue was self inflicted and resolved.

[g1itch]

Tradesatoshi Ltd is incorporated in Hong Kong according to its terms:

OK it looks like I missed this earlier, but I still don't think its good business for an exchange to suddenly impose KYC on everybody and then lock customers out of their accounts for refusing to comply. Every other exchange that has done this:

1. gives the customers the chance to withdrawal their funds, or
2. allows the customers to change the information they entered to match the supporting documents they are uploading

...

Not every. See bittrex thread for example.

Like I said, I've never once had a problem with Bittrex in the 5 years I've been using them. This was OP's last post about Bittrex:

I was wrong totally and the issue was self inflicted and resolved.

OK, let me clarify. There was no chance to withdraw before KYC. I experienced it the hard way. Have no info about point 2 because I had proper account info.

[nutildah]

OK, let me clarify. There was no chance to withdraw before KYC. I experienced it the hard way. Have no info about point 2 because I had proper account info.

Well, we're getting pretty far off topic, but they've never asked me for KYC, so I don't know what to tell you.

[DiHunter]

TradeSatoshi has been sending payment for withrawals of  BTC with absolute minimum possible transaction fee. making sure that the transaction goes unconfirmed and better yet they even double spend on those transactions.
they have been sending trxid with  
0.25 sat/WU - 1 sat/B


just one of the proofs of them is here... you can follow the trail and find they have been doing this for almost a week now!



https://www.blockchain.com/btc/address/1APuKMiXr89n5rb9iUKqcrAZ5jiQ6SFmoo
https://www.blockchain.com/btc/address/1A5FjoJzYpY674bZtENAg4Sy5ae7MGrEMr
https://www.blockchain.com/btc/tx/7976eb6ac462d751d7495c64f2c2f5950d80fa662304630d1b6ac28e8356ae9d
https://btc.com/7976eb6ac462d751d7495c64f2c2f5950d80fa662304630d1b6ac28e8356ae9d

Outright disrespect for their own customers. In such a busy network, people will not receive their funds or will have to spend extra on transaction acceleration services.


As this user did:

[smyslov]

TradeSatoshi has been sending payment for withrawals of  BTC with absolute minimum possible transaction fee. making sure that the transaction goes unconfirmed and better yet they even double spend on those transactions.
they have been sending trxid with  
0.25 sat/WU - 1 sat/B


just one of the proofs of them is here... you can follow the trail and find they have been doing this for almost a week now!



https://www.blockchain.com/btc/address/1APuKMiXr89n5rb9iUKqcrAZ5jiQ6SFmoo
https://www.blockchain.com/btc/address/1A5FjoJzYpY674bZtENAg4Sy5ae7MGrEMr
https://www.blockchain.com/btc/tx/7976eb6ac462d751d7495c64f2c2f5950d80fa662304630d1b6ac28e8356ae9d
https://btc.com/7976eb6ac462d751d7495c64f2c2f5950d80fa662304630d1b6ac28e8356ae9d

Outright disrespect for their own customers. In such a busy network, people will not receive their funds or will have to spend extra on transaction acceleration services.


As this user did:

I agree they should have sent withdrawals when there is less traffic in the network, and not when in it's highest or better get the best transaction fee so they will get their funds, I don't know if this is the only exchange that does this, but this is not a good practice.

[Vazan25]

They're freaks!I've encountered them before!Moderators every one of you stupid bastards!We have to do something!It's time to punish such exchanges and such people!And they are here on the forum?That they silent?They have nothing to say.

[JollyGood]

TradeSatoshi has been sending payment for withrawals of  BTC with absolute minimum possible transaction fee. making sure that the transaction goes unconfirmed and better yet they even double spend on those transactions.
they have been sending trxid with  
0.25 sat/WU - 1 sat/B


just one of the proofs of them is here... you can follow the trail and find they have been doing this for almost a week now!



https://www.blockchain.com/btc/address/1APuKMiXr89n5rb9iUKqcrAZ5jiQ6SFmoo
https://www.blockchain.com/btc/address/1A5FjoJzYpY674bZtENAg4Sy5ae7MGrEMr
https://www.blockchain.com/btc/tx/7976eb6ac462d751d7495c64f2c2f5950d80fa662304630d1b6ac28e8356ae9d
https://btc.com/7976eb6ac462d751d7495c64f2c2f5950d80fa662304630d1b6ac28e8356ae9d

Outright disrespect for their own customers. In such a busy network, people will not receive their funds or will have to spend extra on transaction acceleration services.


As this user did:

Thank you for posting this because it is another very interesting aspect to the manner in which Tradesatoshi conducts its business.

They have the hallmarks and behaviour of a company about to pull an exit scam.... let us see what happens in the coming days.

BEWARE - must avoid Tradesatoshi

[nutildah]

They posted this sob story in their official thread. Looks like they are gone. That's about all we can do.

bye bye bitcointalk  

Unfortunately this thread was taken over a group of scammer who keep spamming with the intention of blackmail not only Tradesatoshi but anyone who disagree with the them.
Without success we tried to get those post deleted and bring some moderation to the thread but instead Bitcointalk moderators delete our posts from users: zyrenth and trade-sa-to-shi.
Those post that where deleted had valuable information for our users. Users who come to Bitcointalk to get this news.

"Spamming with the intention of blackmail"? How does that work? By the way, their posts were being deleted because they kept bumping their thread within a 24 hour period.

Remember to be careful and avoid to post your personal information on the internet.

Yeah like uploading ID documents to dodgy exchanges.

[CryptoCracker]

https://t.me/tradesatoshigroup  
Funny, every now and again, some new user finds this SCAM TRADESATOSHI cheerleading telegram group complaining about their lost coins and locked out accounts. DO NOT USE TRADESATOSHI and if you have access to your account...get your coins off now.

[DiHunter]

Tradesatoshi scam-machine keeps stealing users money:

[JollyGood]

https://t.me/tradesatoshigroup  
Funny, every now and again, some new user finds this SCAM TRADESATOSHI cheerleading telegram group complaining about their lost coins and locked out accounts. DO NOT USE TRADESATOSHI and if you have access to your account...get your coins off now.

I suppose this is the best advice any user of tradesatoshi can adhere to.

Take your crypto out of there and move it another exchange or to your desktop before they selective scam you too !

[xtraelv]

An attempt to present Binance as unreliable exchange through the citation of controversial media content looks very unconvincing. The shift of emphasis from the fact that a respectable exchange, on the example of Binance, in a case of blocking users' funds follow a transparent legal and reasonable procedure, to an irrelevant controversial statement about the danger of this exchange for the market, is not only unconvincing, but also intellectually dishonest.

Lets just archive this and revisit my comments in 2 years time and see what has developed and see if Binance is still the poster child you claim it to be.

Looks like my warnings about Binance were right....

Any exchange can get hacked but the volume and legal structure of Binance make it risky.

Deposits and withdrawals are currently frozen.

According to Binance they control 350000 BTC and 20% of the BTC trading volume.

I'm not saying Binance is deliberately malicious. I admire what Changpeng Zhao’ has accomplished and I believe his intentions are good. He is super clever and has
done some incredible things.

It is just that centralized trading and lack of independent oversight carries huge risks. Sometimes good intentions can still result in disaster. Crypto works best when it is decentralized. Too much in on location becomes a risk from both hackers and government action.

Even companies with complete legislative oversight can go bust so legislation or licensing is not a guarantee of safeguarding. (e.g Barings Bank)

It comes back to: Keeping funds on any exchange is risky.

[four3200]

I am saying Tradesatoshi is deliberately malicious.
AML as excuse to steal.
Delist as excuse to steal.
And bullshit artist to post excuses on behalf of the Craptopia crime syndicate.