paxfull.com - scam site / "BIG" company makes a mockery of your privileges

[TeslaMotors]

I just log on to my account after long break where I had some funds. What is my surprise when they changed the rules completely and you can't withdraw funds from your account! They changed their limits and forced KYC and your data. This is typical fraudulent behavior. And here's paxfull.
 
You won't give them your data - you won't recover the money. Is this what real big companies do? this is a robbery in broad daylight

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[AdolfinWolf]

Yeah, this wouldn't be at all unique to Paxful.

I don't think this is really tag-worthy behaviour anymore (Polo/Bittrex and a whole bunch of other exchanges were sort-of let off scott-free after doing similar stuff.) - although I really do think it should be.

I haven't followed paxful for a while, but if they did retroactively block old customers' funds without giving them a chance, well really, even if they gave several warnings beforehand... - that's indeed scummy, and entirely in line with their site's policy and userbase.

The amount of trust-circles which pad one's reputation might just make up 90% of their total trades, at least it did when i briefly used them.

The funny thing is: Only legit people are really affected by this; It would be trivial to photoshop a document / selfie to pass KYC, heck, you can buy a set for < 100$.

Especially for a lot of unbanked/underdeveloped countries (the unbanking they claim to support: (E: large portions of African/South American/South-East Asian countries)), it is actually impossible to verify their ID's beyond checking for photoshop. (There'd be simply no way to verify these ID's with something like equifax, although i sincerely question whether paxful even has access to something like that for her U.S customers.)

So it's either just window-dressing, or actual nefarious behaviour. (Although a strong case for the latter could be made regardless.)

Anyway, long story short, these P2P exchanges suck and are full of scammers.

[TeslaMotors]

Yeah, this wouldn't be at all unique to Paxful.

I don't think this is really tag-worthy behaviour anymore (Polo/Bittrex and a whole bunch of other exchanges were sort-of let off scott-free after doing similar stuff.) - although I really do think it should be.

I haven't followed paxful for a while, but if they did retroactively block old customers' funds without giving them a chance, well really, even if they gave several warnings beforehand... - that's indeed scummy, and entirely in line with their site's policy and userbase.

The amount of trust-circles which pad one's reputation might just make up 90% of their total trades, at least it did when i briefly used them.

The funny thing is: Only legit people are really affected by this; It would be trivial to photoshop a document / selfie to pass KYC, heck, you can buy a set for < 100$.

Especially for a lot of unbanked/underdeveloped countries (the unbanking they claim to support: (E: large portions of African/South American/South-East Asian countries)), it is actually impossible to verify their ID's beyond checking for photoshop. (There'd be simply no way to verify these ID's with something like equifax, although i sincerely question whether paxful even has access to something like that for her U.S customers.)

So it's either just window-dressing, or actual nefarious behaviour. (Although a strong case for the latter could be made regardless.)

Anyway, long story short, these P2P exchanges suck and are full of scammers.

After all, there was an entry here that KYC makes no sense at all and even helps criminals to act at the expense of innocent victims. This is all one big absurdity!

[hulla]

After all, there was an entry here that KYC makes no sense at all and even helps criminals to act at the expense of innocent victims. This is all one big absurdity!

Firstly, I believe this is not the first time paxful will ask their user to go through some KYC before he/she can access his/her fund and if you search through this forum you will understand that youre the first victim but I believe they usually do that when they notice something fishy account the account or some report the account accordly to their rules/regualtions.

Meanwhile, KYC make no sense within the crypto community but to P2P and centralized exchange site it a real deal. However, KYC help criminals at the expense innocent victim if a data breach occur. I will advise you not to use p2p and centralized exchange you dont trust or understand their rules and regulations in future.

[nutildah]

I looked at an old version of their Terms of Service page and found that they've said they may request KYC from customers since at least March 2020:

The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, social security number, taxpayer identification number, and a government identification.

It looks like they made the change around that time. Even though they should, I don't think they will release the funds to you without ID at this point; it might have been a different story in April or May.

[TeslaMotors]

After all, there was an entry here that KYC makes no sense at all and even helps criminals to act at the expense of innocent victims. This is all one big absurdity!

Firstly, I believe this is not the first time paxful will ask their user to go through some KYC before he/she can access his/her fund and if you search through this forum you will understand that youre the first victim but I believe they usually do that when they notice something fishy account the account or some report the account accordly to their rules/regualtions.

Meanwhile, KYC make no sense within the crypto community but to P2P and centralized exchange site it a real deal. However, KYC help criminals at the expense innocent victim if a data breach occur. I will advise you not to use p2p and centralized exchange you dont trust or understand their rules and regulations in future.

I looked at an old version of their Terms of Service page and found that they've said they may request KYC from customers since at least March 2020:

The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, social security number, taxpayer identification number, and a government identification.

It looks like they made the change around that time. Even though they should, I don't think they will release the funds to you without ID at this point; it might have been a different story in April or May.

My account has only the positives and apart from this small number of transactions, just a month ago I had a limit of about 300 usd to work and now they have reduced it to zero. I think it is a deliberate misleading and also a deception. You know that you have a limit and here suddenly this limit is reduced to zero. This is the action for all accounts i think

I think it should be publicized.

Let's assume another case.

You have money on BINANCE and you know you don't have to do KYC.
Suddenly they force it on you or you lose money ?

Would BINANCE still be the number 1 exchange? NO
They would lose a lot MORE

I think the same should be done with paxfull - that is, completely WARNING FROM PAXFULL !

[hulla]

After all, there was an entry here that KYC makes no sense at all and even helps criminals to act at the expense of innocent victims. This is all one big absurdity!

Firstly, I believe this is not the first time paxful will ask their user to go through some KYC before he/she can access his/her fund and if you search through this forum you will understand that youre the first victim but I believe they usually do that when they notice something fishy account the account or some report the account accordly to their rules/regualtions.

Meanwhile, KYC make no sense within the crypto community but to P2P and centralized exchange site it a real deal. However, KYC help criminals at the expense innocent victim if a data breach occur. I will advise you not to use p2p and centralized exchange you dont trust or understand their rules and regulations in future.

My account has only the positives and apart from this small number of transactions, just a month ago I had a limit of about 300 usd to work and now they have reduced it to zero. I think it is a deliberate misleading and also a deception. You know that you have a limit and here suddenly this limit is reduced to zero. This is the action for all accounts i think

I think it should be publicized.

Let's assume another case.

You have money on BINANCE and you know you don't have to do KYC.
Suddenly they force it on you or you lose money ?

Would BINANCE still be the number 1 exchange? NO
They would lose a lot MORE

I think the same should be done with paxfull - that is, completely WARNING FROM PAXFULL !

I understand your message but you seems not to understand that every exchange site have there own rules and regulations which they must follow. However, paxful cant be compare to Binance because paxful is a peer to peer crypto marketplace and every peer to peer crypto site usually force KYC procedure on their user whenever they see something which seems to violation rules and regulations.

[TeslaMotors]

(..>) is a peer to peer crypto marketplace and every peer to peer crypto site usually force KYC procedure on their user whenever they see something which seems to violation rules and regulations.

Generally, when I read such posts, I wonder where do you get this range from? You only get a counter in a signature campaign?
What has gingerbread in the windmill.

Since when do you accept this kind of approach on this forum? You are talking about regulations. Do you know any ? I bet you don't even know what the rules of this forum look like.

The law cannot act retroactively. If I could deposit, I must have the right to withdraw the same measures !