Warning! CryptoCapital doesn’t pay

[broc99]

What happened:
06.12.18 I asked for withdrawal of 1900 usd.  It wasn’t  carried out.   I applied to the support.
The support answered:
Thanks for reaching out.
Due to intermediary banks withholding funds for an extended amount of time, we have halted all withdrawals at the moment.
We will have more information available regarding the situation on December 12.
We apologize for this inconvenience and appreciate your patience at this time.

Nothing had changed through December. The support just went on referring some problems with banks – intermediaries.  Then they suggested to wait for “after the NY”

Currently outgoing transfer are on hold. It will most likely not be available until after the New Years.
We apologize for the inconvenience.

January and February didn’t bring anything.  The same story about problems with banks – intermediaries.   When I asked for something more detailed about the issue the answer was

Support: We have been alerted that the funds were being held due to the fact that the regulators have placed our account on hold. This is not a usual occurrence, which is why it is taking some time to resolve.

Me: Where can I see an official text of this restriction?

Support: I cannot provide any official documents at this time. The information is business related.
Once we have more updates, you and all of our customers will be notified accordingly.

That’s the end.  Btw, no warnings at their site.   It looks absolutely working.  So, be careful and do not deal with this company!!

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[Lucius]

broc99, you should research better about cryptocapital because there is similar accusations from users in this forum from 2016. Something is definitely wrong with them, and my advice is that you carefully read this thread, and you will see how OP is solved his problem. In short you should use all accessible social networks and post about your problems using the communication you have with them.

Fact that they have no info about any problems with deposit / withdraw on their site, speaks clearly for itself. So first open new thread in Scam Accusations using proper format.

Also write complaint to exchange from which you withdraw money to cryptocapital, it may help to remove this service as withdraw option.

[joniboini]

Cryptocapital is extremely shady, they just deleted the Bitfinex logo from their site after Cryptomedication publish his finding of shady exchanges (Bitfinex, Coinapult, Cex, including the famous QuadrigaCX). OP, I think you can try asking them but don't get your hopes too high because almost all exchanges related to this provider disappeared without any trace, has long and on-going withdrawal problems, and etc.

[jossiel]

you should research better about cryptocapital because there is similar accusations from users in this forum from 2016.

Yep, if he only does he's likely to see this thread too.

is this a Scam or Legit?? transfers - 30 countries Currency Accepted

With a long time of wait and the responses were just the same, you are about to get the idea that they are just reasoning out and doing that for the sake of delaying the withdrawal. Next time, use reputable exchanges and don't risk your money with unpopular ones.

[Zalaster]

I have repeatedly seen the charges against Cryptocapital, their site looks rather dubious, I have not found any detailed information there. I am sorry that this happened to you, I will warn users not to use this service.

[Slow death]

Me: Where can I see an official text of this restriction?

I would also like to know which bank deals with this site?

Registrant Country: PA

http://whois.domaintools.com/cryptocapital.co

Panama

Why did you use this site?

[joniboini]

I would also like to know which bank deals with this site?

It was never disclosed, but probably any banking account that was previously used by Bitfinex. Cryptocapital is the one who provides fiat banking solution to Bitfinex, Quadriga, Cex, Coinapult etc, so most probably all of those exchanges are directly linked to the same bank. It means, if one of them can't process the withdrawal, then the rest of them have a high risk of going bankrupt.

[rolypoly]

I have money locked up in this website? any ideas what to do? Has anyone withdrawn funds with them successfully  in 2019?

[Lucius]

I have money locked up in this website? any ideas what to do? Has anyone withdrawn funds with them successfully  in 2019?

Unfortunately for you, and many others it seems that no one can withdraw anything from that site, it is a one-way flow of money in scammers pockets. I write some things in this thread, with link to other thread related with this site, and it seems that they are operate in same way for years. Internet is full of stories about them, and how customers can not withdraw from that site.

I am not sure how they can still work and why site is not shut down long time ago, but it seems that people not report such cases to the authorities.

[LeGaulois]

Didn't we have members here who created topics to say that Switzerland is a crypto friendly country?

@OP considering what they told you is true, at least your money is still here, the regulator will be soon or later forced to act, either by letting the company operating as it did or refunds each customer himself with the remaining balance.
You're not facing an exit scam at least...

[magneto]

It's quite funny that their entire site's mission is to apparently "merge the fiat and crypto worlds". Seems like that didn't turn out to be much of a success

As you may already know, your only route of recourse is really to continue to contact support, ask them for updates on the situation, and hope for the best. This is always the risk when dealing with a third party which you have to trust to hold your funds and be legit. The chances that you'll be able to somehow contact regulators overseas to get them to act in your favour is very slim.

Since one of their partner exchanges is QuadrigaCX, and with the events that obviously unfolded in recent days regarding that exchange, I do wonder whether or not there is any link there between cryptocapital failing to process your withdrawal and potentially liquidity issues due to QuadrigaCX's own problems.

But still, none of this accounts for the fact that they still haven't provided any clear warning on their site that would suggest their fiat withdrawal systems are now dysfunctional - which is unacceptable.

[Lucius]

Since one of their partner exchanges is QuadrigaCX, and with the events that obviously unfolded in recent days regarding that exchange, I do wonder whether or not there is any link there between cryptocapital failing to process your withdrawal and potentially liquidity issues due to QuadrigaCX's own problems.

I think that QuadrigaCX has nothing to do with the current situation, because problems with withdraw are reported back in 2016, and possibly even earlier. I posted link (post 2) with thread from 2016, nothing is changed since then, they receive money from user exchange account and then refuse to pay them. In the same time they obviously paid for their promotion as a serious company in reviews like this one, but we should definitely read the comments below article that we actually see what it is all about.

Didn't we have members here who created topics to say that Switzerland is a crypto friendly country?

I see that info on their site is say Switzerland, but in review link I posted company headquarters should be in Panama? Also Crypto Capital is owned by Global Trade Solutions AG, which has no good reputation.