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Author Topic: looking for recovery/unlock service for the scam company localbitcoins.com  (Read 252 times)
Bug_Fixer (OP)
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March 07, 2021, 09:45:22 PM
 #21

^ That is the thing,,, I do not think Localbitcoins will just delete and confiscate bitcoins. In no world can a regulated exchange do this. The worst that happens to you if you cannot pass KYC or whatever process they put you through is to close your account, and return to you what you deposit.

But how I can proof that I have Bitcoins in my wallet?
And LBC deletes inactive accounts.
And delete account functionality is deactivated, while your account is frozen. - Another trick/scam?
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Son_of_Karry_Mullis
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March 07, 2022, 06:34:27 AM
 #22

Hello, can you tell the details, are they just blocking or taking funds of inactive users?

Thanks
LocalBitcoins is a custodial p2p exchange therefore they have the ability to block people's funds for various reason such as Bitcoins from suspicious transactions, incompletely KYC verification etc

About a year ago, localbitcoins started blocking unverified accounts of users from certain countries, but there was an option for one to delete their account with them in order to withdraw the funds

Thanks for info

For me i was not able to withdrawal my funds. You can not delete or withdrawal you funds if you are on forced holiday.
If you don't want to loose your bitcoins, I would stay away from the defraud company Localbitcoins.
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March 08, 2022, 02:35:02 PM
 #23

But how I can proof that I have Bitcoins in my wallet?
And LBC deletes inactive accounts.
And delete account functionality is deactivated, while your account is frozen. - Another trick/scam?

Best to check with them if your account fits their inactive category. But imo I don't think it is since your account is frozen which means you are forced to be inactive and inactivity is something voluntary...

Their statement also says there's a possibility they will lift the suspension, so they will most likely keep your account.

This is was LBC answered to me, sounds like they scam me without metnioning any reason:
Quote
We will lift the suspension as soon as possible once the reasons for the suspension no longer exist.
---
Best regards,
LocalBitcoins

They can however terminate it and claim the bitcoins for other reason/s in case the situation changes.

As a result of limitation, suspension or termination your access to and the withdrawal of bitcoins that you have in your LocalBitcoins wallet may be delayed or denied. If there are bitcoin transactions made to the wallet addresses associated with your terminated or deleted account after the termination or the deletion, LocalBitcoins has no obligation to return the bitcoins and you agree that the bitcoins become the property of LocalBitcoins.

Note that by terminate, it doesn't mean that your account data will be wiped off their system.

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