Stake.com does not deem crypto earnings as legal

[seleme]

This is simply unacceptable, they need to be more specific about required documents of this verification level. Telling users anything related crypto except mining illegal can not be tolerated, they have to accept any form of documents that prove user earns his money this way in crypto industry since stake is also crypto casino. If they refuse permanently block account and go gamble somewhere else.

[1714619833]

1714619833

[1714619833]

1714619833

[1714619833]

1714619833

[DoublerHunter]

Stake asked the OP to provide his source of funds statement. They have suspended his account and requested for those documents. OP will be able to access his account again if he can successfully go through the verification process.

If it is so, they're stealing from OP. They have no right to keep his money regardless of whether he can prove it was earned by him through mining or whatever else.
Imagine that he was given this money for free and cannot prove that it's legit, it's still his money. No company has the right to act like a judge and jury and steal that.
I don't know how Stake will approach this but there's only 2 legal ways. Either they accept the money, or return it back to OP.

^Since then I did not play Stake when I saw more complaints against them even though they have a lot of promotions.
You are definitely right, they have no right to freeze an account that has money not unless this was on the ToS which is OP there is nothing to do because upon opening the account he agreed with the terms. Stakes should not do this because it is ruining their reputation, a warning could be the right approach to this and if OP can not do the requirements at least withdrawing the fund is much better. So my question is, if they are doing this to other users, what will they do to the banned account that has money? That money does not belong to them.

[RILWAN]

Whats the reason for suspending the account, what did they say?

Just the sae question i was abiut to ask, what i can deduce from the op's statement is the fact that he may have been involved in some money laundering activities that have led to the stake asking him for such legal documents as proof of funds.

[lionheart78]

I have somewhat the same issue though with my local crypto wallet that asked my source of funds, they don't accept earnings from online employment agreement which they prefer to look into a salary record with my IDs on it. Maybe they are just complying what government told them. I uninstalled that wallet after it.

I also have the same experience, my local crypto wallet also asked me for proof of funds twice, the first time they asked me, they acknowledged my proof but the second time (after 2 years) they invalidate it.  They refuse to recognize any crypto earnings coming from online crypto freelancing.  I also think it has something to do with government guidelines.  I just abandon their service after capping my monthly transaction to $500.

The way I see it, Platinum 4 is a high rank with a high amount of wager requirement. With that amount of money for gambling, it should be pretty easy to prove your source of funds (for most whales) since you are expected to have six+ figures job, legitimate businesses, etc. Without that proof, there are only drug dealers and the like. Trading should be fine though if you have the record, should be treated fairly similar to this:

Sales of shared or other investments / liquidation of investment portfolio / bonds

Source: ToS

@OP mu_enrico had stated, you can use your trading history as source of income.  Just prepare a proper documentation of your trading profit.  Since you stated that you had your fund from tradings and services, I am sure there are records of those transactions.

Whats the reason for suspending the account, what did they say?

Just the sae question i was abiut to ask, what i can deduce from the op's statement is the fact that he may have been involved in some money laundering activities that have led to the stake asking him for such legal documents as proof of funds.

Just curious here too, maybe he deposited big and Stake finance team tracked it back to shady original crypto adress. Maybe OP has deposited big in short timeframes or used prepaid debit card on MoonPay that is main cashier partner of Stake.

It is also possible that the stake.com had seen irregularities on OP's fund movement.

[PX-Z]

...

I have asked support and they have confirmed that they do not deem any crypto earnings as legal and valid source of income apart from income made through mining. ...


I earn my money from trading, selling some services and sometimes airdrops and stake tells me I am invalid

This is the shittiest statement i read from a reputed platform today if they are following some regulation then it is stupid too how come it was approved.

So now, they only see miners as legal crypto jobs/works others are all illegal, what kind of brain they have.
The assumed money laundering isnt the case, he probably will got a reply about that

[BitDane]

...

I have asked support and they have confirmed that they do not deem any crypto earnings as legal and valid source of income apart from income made through mining. ...


I earn my money from trading, selling some services and sometimes airdrops and stake tells me I am invalid

This is the shittiest statement i read from a reputed platform today if they are following some regulation then it is stupid too how come it was approved.

I agree, this term should be revised.  Mining isn't the only way to acquire cryptocurrency.  Anyone can acquire cryptocurrency through freelancing and offering services which can be properly documented through the agreement of both parties.

So now, they only see miners as legal crypto jobs/works others are all illegal, what kind of brain they have.
The assumed money laundering isnt the case, he probably will got a reply about that

This is so dumb.

Whats the reason for suspending the account, what did they say?

Just the sae question i was abiut to ask, what i can deduce from the op's statement is the fact that he may have been involved in some money laundering activities that have led to the stake asking him for such legal documents as proof of funds.

It is very possible, stake is probably suspecting OP to have some shady transactions and used stake as platform to wash that transaction.

[Blawpaw]

Hello friends, I am a platinum 4 player at stake.

Today my account was suspended and I was asked to submit proof of funds as I am already verified upto level 3 and proof of funds comes in as level 4

I have asked support and they have confirmed that they do not deem any crypto earnings as legal and valid source of income apart from income made through mining. This means if you are a service provider, a seller or simply a trade you cannot provide proof of funds at stake as they only deem mining earnings as legal and everything else is illegal and invalid.

So if you have money at stake.com and you don't have any of these ready (https://help.stake.com/en/articles/5328395-acceptable-documents-for-source-of-funds) , please withdraw your money right now.

It is really confusing why stake is disrespecting people who work hard and earn their money from small crypto tasks



I earn my money from trading, and selling some services and sometimes airdrops and stake tells me I am invalid

Well, if they are asking you to clarify the origin of the deposited funds they must have found something suspicious. Always remember that you can have in your possession "Tainted coins" and this can generate red flags to be raised. For instance, if someone sent you some coins to pay you for a service and these coins were coming from a mixer they can possibly raise an alert. Given that the coins you have deposited may have been identified as already being used for illicit purposes, Stake's Compliance team may be compelled to act.

[Darker45]

2 consecutive days of stake attacking threads, doesn't that sound coordinated?

Or doesn't that sound that there's indeed a problem with Stake?

Stake asked the OP to provide his source of funds statement. They have suspended his account and requested for those documents. OP will be able to access his account again if he can successfully go through the verification process.

If it is so, they're stealing from OP. They have no right to keep his money regardless of whether he can prove it was earned by him through mining or whatever else.
Imagine that he was given this money for free and cannot prove that it's legit, it's still his money. No company has the right to act like a judge and jury and steal that.
I don't know how Stake will approach this but there's only 2 legal ways. Either they accept the money, or return it back to OP.

I agree. And this is really a bad precedent among gambling platforms, especially considering that Stake is a whale in this industry.

Stake is acting as if its players are guilty of having dirty money until proven otherwise. This is a very familiar behavior as this is the behavior of banks and many custodial services and centralized platforms.

But the worst thing in the case of Stake is that the money is held hostage. It's not only unfair, it's indeed stealing.

[Haunebu]

Nope, Stake didn’t mention that only mining is acceptable as source fund in crypto. They just do site an example for this case but anything that can have valid proof is ok with them for example trading. He can request for notarized document for his trading history as source of his fund his trading volume is sufficient to tally on the original deposit that he made on the casino account. OP is just making this issue worst by assuming that Stakes on accepts mining as source of income in crypto.

What the heck are you talking about? Op clearly mentioned that they deemed mining earnings as the only acceptable form of crypto earnings and even shared a screenshot to prove his statement.

It's pretty evident that Stake is in the wrong here which is why they should rectify this issue asap in my opinion.

[Porfirii]

Nope, Stake didn’t mention that only mining is acceptable as source fund in crypto. They just do site an example for this case but anything that can have valid proof is ok with them for example trading. He can request for notarized document for his trading history as source of his fund his trading volume is sufficient to tally on the original deposit that he made on the casino account. OP is just making this issue worst by assuming that Stakes on accepts mining as source of income in crypto.

What the heck are you talking about? Op clearly mentioned that they deemed mining earnings as the only acceptable form of crypto earnings and even shared a screenshot to prove his statement.

It's pretty evident that Stake is in the wrong here which is why they should rectify this issue asap in my opinion.

When I read the OP and the first posts I thought this could be a particular case, or even an attempt to tarnish the name of Stake.com. But it seems that it is their policy. Although it is legitimate that they want to prove the origin of the funds, and the most provable origin is through mining, they should improve their policy and accept different origins, as there must be many people depositing their lawfully earned funds in the platform, and they may be unprotected if they eventually win big.

Not to blame only Stake, it keeps being one of the trustworthiest platforms in the crypto sphere. As other members stated before, this is a critical point in many custodial platforms, and many people are not aware of it, because almost nobody reads the T&Cs.

Remember that, not your keys, not your coins.

[Fivestar4everMVP]

I just started gambling on stake and managed to pass my kyc level 2 verification some few days back, I don't even know if I've made it to platinum one, so I honestly don't know what it takes to be a platinum 4 ranked gambler on stake, but my guess is that, it must require gambling with lots of funds to achieve such rank, and also consider the fact that there is a limit to the amount of money a person can make through trading, and providing crypto services.

So depending on the amount of money involved, it can be understandable why they are not accepting trading, provision of crypto services as a genuine prove of funds.

@OP, If you have businesses or other investments outside crypto, then maybe you should try using that/those as a prove of fund.

[PX-Z]

So depending on the amount of money involved, it can be understandable why they are not accepting trading, provision of crypto services as a genuine prove of funds.

Sounds lame to me, crypto is not just mining, and mining is not for everyone. Stake knows it very well that crypto is a growing industry. Well, their CEO founded primedice too on bitcoin/crypto's earlier years. Many jobs have opened since then due to the growing popularity of cryptocurrency. It's impractical for them to say that most of these crypto jobs are illegal and only mining is legal, mining is even a business not just a job, and not everyone can open a business especially a crypto related business.

They should update that BS policy of them. It's understandable that they just want to follow some certain regulations but that's too much of BS to consider.

[Fivestar4everMVP]

So depending on the amount of money involved, it can be understandable why they are not accepting trading, provision of crypto services as a genuine prove of funds.

Sounds lame to me,

You are right, if what I said be the reason, it sounds absolutely lame to me as well I must admit, but then, the truth remains the truth, they probably have their reason and until one is in their shoes, it is really really hard to understand.

It's understandable that they just want to follow some certain regulations but that's too much of BS to consider.

Thank you, exactly where I was driving to, I trust that stake knows what is wrong and that which is right, and they love and have the interest of their community and users at heart, but some times, due to the fact that they have to follow some regulations if they must continue to run their business with out problems, it becomes a case of ("we wish there was a way to help, but unfortunately, our hands are tied") to some of their customers.

Please don't think I am siding stake.. I am just trying to give them the benefit of doubt.

[Carollzinha]

I just started gambling on stake and managed to pass my kyc level 2 verification some few days back, I don't even know if I've made it to platinum one, so I honestly don't know what it takes to be a platinum 4 ranked gambler on stake, but my guess is that, it must require gambling with lots of funds to achieve such rank, and also consider the fact that there is a limit to the amount of money a person can make through trading, and providing crypto services.

So depending on the amount of money involved, it can be understandable why they are not accepting trading, provision of crypto services as a genuine prove of funds.

@OP, If you have businesses or other investments outside crypto, then maybe you should try using that/those as a prove of fund.

You can find your VIP rank here and see the benefits for all the available ranks here

To reach Platinum 4 VIP rank, you need to wager at least $2,500,000 (you can find more details about VIP Program here)

A full list of the acceptable documents for source of funds can be found here. That list have been in the Help Center for quite a long time.

Also last but not least, can the OP send me his Stake username? It can be in private if he wants to keep his privacity. In order to find out what the real issue is, thats the first info we need

[seleme]

Hello friends, I am a platinum 4 player at stake.

Today my account was suspended and I was asked to submit proof of funds as I am already verified upto level 3 and proof of funds comes in as level 4

I have asked support and they have confirmed that they do not deem any crypto earnings as legal and valid source of income apart from income made through mining. This means if you are a service provider, a seller or simply a trade you cannot provide proof of funds at stake as they only deem mining earnings as legal and everything else is illegal and invalid.

So if you have money at stake.com and you don't have any of these ready (https://help.stake.com/en/articles/5328395-acceptable-documents-for-source-of-funds) , please withdraw your money right now.

It is really confusing why stake is disrespecting people who work hard and earn their money from small crypto tasks



I earn my money from trading, and selling some services and sometimes airdrops and stake tells me I am invalid

Well, if they are asking you to clarify the origin of the deposited funds they must have found something suspicious. Always remember that you can have in your possession "Tainted coins" and this can generate red flags to be raised. For instance, if someone sent you some coins to pay you for a service and these coins were coming from a mixer they can possibly raise an alert. Given that the coins you have deposited may have been identified as already being used for illicit purposes, Stake's Compliance team may be compelled to act.

I agree, if the finance team founds deposit address been funded by shady transactions linked to mixer or Dark Web they will ask the source of funds before processing transaction. Unless user has direct connection with red flagged address, it is up to Stake support to accept deposit or send back to original address in case of user refuses to prove required documents,IMHO.

[passwordnow]

Whats the reason for suspending the account, what did they say?

Just the sae question i was abiut to ask, what i can deduce from the op's statement is the fact that he may have been involved in some money laundering activities that have led to the stake asking him for such legal documents as proof of funds.

It could be huge deposits that he can't justify from which source it came and the stake is looking for a legitimate source that's not related to crypto.
And if that's not acceptable to them, OP has got no choice but just to leave it since he has already asked and contested about it. There's no way to change that decision from them. You can still gamble with other casinos if you want to OP but, there might be some really huge thing as to why they've banned your account related to your deposits/withdrawals.

[Xxmodded]

If they start to distrust you, close the account, go somewhere else. I think their rules starting to give you this kind of special attention will lead you to the verification procedure to the next level of complication. Don't mean to go against Stake's policy, to me it's already not very comfortable to bet long term for any casino.

Not easy with closing account have reach platinum 4 and actually I know how much money spent by the OP before reaching almost highest level in Stake. Better what ever incoming fund in stake with huge or little no matter for investigate, maybe stake not safety any more at the future if have problem when huge amount withdraw or deposit need KYC procedure. Maybe OP could try accepted with procedure needed by Stake and hope can get back his account because with platinum 4 have excited bonuses in weekly or monthly.

[serjent05]

So depending on the amount of money involved, it can be understandable why they are not accepting trading, provision of crypto services as a genuine prove of funds.

In my experience, trading can generate more profit than mining.  I have seen lots of people in my stay in the crypto industry gaining millions of dollars in profit from a hundred to thousand dollar investment in just a matter of few months.  I believe as long as there is a ledger to prove the fund is coming from trading profit, it should be recognized as a valid source of income.  Though in a scenario where the initial trading fund is a huge sum of money, the person holding that fund should also give proof of the source of the initial fund.

@OP, If you have businesses or other investments outside crypto, then maybe you should try using that/those as a prove of fund.

I would also suggest this ↑↑↑

The way I see it, Platinum 4 is a high rank with a high amount of wager requirement. With that amount of money for gambling, it should be pretty easy to prove your source of funds (for most whales) since you are expected to have six+ figures job, legitimate businesses, etc. Without that proof, there are only drug dealers and the like. Trading should be fine though if you have the record, should be treated fairly similar to this:

Sales of shared or other investments / liquidation of investment portfolio / bonds

Source: ToS

Anyway, there's nothing to worry about for small-time gamblers since who cares about the origin of $100? It is only applicable to whales.

I wonder if the quoted statement from the TOS is only applicable to fiat currency.

[Haunebu]

The thing is, OP is already at the level 3 and why there’s a sudden change?
Probably OP tried to deposit huge amount of money and that trigger the stake to investigate the account. Maybe Stake can do something about this, they can easily know if OP is a real gambler who already spend a lot of money on the platform. There’s no way for OP to let go of that money, the only option is to negotiate or comply with the requirements, show them your proof of trades and maybe that can work.

I don't understand why some of you are looking for excuses to defend Stake in this case when op already provided sufficient proof to verify his statements against them. Forcing him to provide proof of funds in this manner is odd.

They should provide a reasonable explanation as to why they feel that he should provide more proof in order to justify their stance if you ask me.

[seleme]

If they start to distrust you, close the account, go somewhere else. I think their rules starting to give you this kind of special attention will lead you to the verification procedure to the next level of complication. Don't mean to go against Stake's policy, to me it's already not very comfortable to bet long term for any casino.

Not easy with closing account have reach platinum 4 and actually I know how much money spent by the OP before reaching almost highest level in Stake. Better what ever incoming fund in stake with huge or little no matter for investigate, maybe stake not safety any more at the future if have problem when huge amount withdraw or deposit need KYC procedure. Maybe OP could try accepted with procedure needed by Stake and hope can get back his account because with platinum 4 have excited bonuses in weekly or monthly.

A plat 4 account is hard to achieve within a short timeframe, he deposited lots of cryptos to reach this VIP rank and take advantage of VIP perks. A year ago, for VIP Host having a plat 1 account was enough, nowadays the minimum requirement is plat 4 for being eligible. Hopefully, OP will get back his account and withdrawal but Stake should take into consideration the arguments of OP who has no other legal documents as required by the Stake support team. OP still didn't answer questions regarding flagged transactions or coins coming from mixers, this is the main concern to reach a solution.