Bestchange keeps scammer exchangers and probably collaborates with them

[limitless_777]

Hi everyone!

Recently I have noticed one problem on Bestchange and I want to share it with you because I think it's important. I was shocked when noticed this. First I created a topic on the Russian forum, so now I'll translate it here. Sorry for my English, it's not my native language.

So I noticed many exchangers started to have KYC / AML that is completely inappropriate when dealing with crypto. When you start an exchange after sending your coins to an exchanger it may say "your coins are dirty, you must pass KYC". Before if a client refused to pass KYC exchangers returned his coins to a wallet they were sent from. But now exchangers became completely impudent. In many of them appeared a new rule saying they can block your coins for indefinite term. So according to their new rules now they have a right to scam you and just take your coins if they want to. They even don't put this rule about blocking on pages where you make an exchange, you can see it only if you open their rules page and read it carefully.

Also please pay attention to the fact exchangers don't have any authority to perform any KYC procedures, collect client's personal info and ask for it. And of course they don't have any authority to block coins. Because exchangers aren't any kind of legal businesses. They are anonymous persons, not registered financial companies. But they don't want you to be anonymous. So according to them you must send your pesonal info to some noname who don't guarantee you anything and may sell your info everywhere. They think it's ok but it's not.

Also there are exchangers that don't have any AML policy on their website but they block your coins despite of that. For example, https://fixedfloat.com. Look at this:

https://i.postimg.cc/Y986X6qc/1.png

There are 2 reviews on the screenshot. You can read the English one. The Russian one says they stole coins saying they are "blocked because of AML". They refuse to return the coins. During the conversation FixedFloat's admin was repeating the same thing about AML and in the end Bestchange's admin just closed the dispute and made it gray despite Alex didn't receive his coins and kept asking Bestchange's admin to keep the dispute opened and of red color. You can find both reviews here: https://www.bestchange.ru/fixedfloat-exchanger.html. You can read full conversations, you can use Google Translate to translate the Russian one. The English one already became gray and there isn't any reply saying the dispute starter received his coins. And also there are  many other reviews like these 2 on the FixedFloat's page at Bestchange. So this kind of scam is something permanent there and Bestchange's admin keeps FixedFloat and just closes disputes while people don't get any refunds.

Here is another example, EasyBit exchanger:

https://i.postimg.cc/6QT0TzNj/2.png

This exchanger makes a refund if you refuse to pass KYC. But anyway, they tell you about KYC after you send your coins, not before. So it's a time wasting and hassle. You send your coins without knowing about KYC, EasyBit doesn't have chat so you must reach their support, you may start a dispute on Bestchange etc.  It takes hours to return your own money back. EasyBit has only positive reviews on Bestchange but if you open their page at the rating https://www.bestchange.ru/easybit-exchanger.html you'll see how many gray ones it has. And all the gray ones are about KYC.

Also EasyBit's rules state they can 1. scam you (have right to block crypto you sent them), 2. ask you for a verification as many times as they want without any reason.

There are many exchangers like these 2 on Bestchange. I just provided 2 examples here. All the exchangers like these 2 don't have icons showing they may ask for your personal info if you find them in the exchanger's list on Bestchange. Bestchange shows they don't ask for any verification so people believe it and use exchangers like this. Look at this, no icons:

https://i.postimg.cc/5NSdm9Fc/6.png

And here is the example of such icons near exchanger's names when you see the list of exchangers who make exchanges from bank cards:

https://i.postimg.cc/0QP7Dfg1/7.png

So why is that? When you want to exchange money from your card you can see in the list an exchanger will ask for your personal info. But when you want to exchange your crypto you don't see this.

People start to exchange crypto without having in mind there is a probability of being asked for KYC and without knowing the exchanger has AML. Many people just don't expect this when dealing with crypto (like it should be). And as I said in the start of this topic many exchangers have link to this info at the bottom part of their websites. Nobody looks there so nobody reads it.

I sent an email to Bestchange's admin and said he must put the icons near crypto exchanger's names and he must remove scammer exchangers which "block" client's crypto. Because if an exchanger doesn't want someone's coins and thinks they are dirty it must return the coins to the client and that's all. All the "blocks" are just scam. But Bestchange's admin refused to put icons saying "AML is everywhere anyway and if some exchangers don't have it they just work bad because they should have it". Well, it's a very weak excuse. Because then why do exchangers who deal with bank cards have such icons? Also AML is not everywhere, that's a lie, especially when dealing with crypto. Also he didn't delete scammer exchangers. So Bestchange's admin knows very well what is happening, he keeps scammer exchangers. He closes disputes when coins are stolen "because of AML". And he doesn't inform people an exchager has any KYC knowingly. If people knew that they wouldn't choose that exchanger, so the exchanger couldn't "block" their coins. The only reason Bestchange's admin misinform people is that he has profit share from scammer exchangers. I think he collaborates with them because I just don't see any other reason not to inform people about KYC by putting "exchanger asks for personal info" icon. I have emails from him and can forward to prove I didn't invent anything. Here are some screenshots from my mailbox, so you can see my email and if I forward the emails you can compare text:

https://i.postimg.cc/LskhjgFc/8.png
https://i.postimg.cc/G27Ljk75/9.png

Instead of passing an inappropriate KYC / AML I propose to share this info everywhere. Let's inform people. And let's report to Bestchange's hoster, domain registrator, maybe to antiviruses. Same thing for exchangers who ask for personal data and steal coins. Also I think we must help exchangers to comply with laws. They want it so badly. So let's report to the tax department and authorities (the pay taxex and work legally if they want clients to comply with laws, aren't they?). Because in fact what are we having here is illegal personal data collection (and maybe selling) and illegal coins "blocking". So, they love police, they say they can report clients to the police in their rules, let's help them meet with police loved so much by them. I'll post links to Russian authorities soon.

I think community should act. We can't just ignore such things. If we just keep observing and being passive about that in a few years having crypto will become just like having money in your bank account - when your money in fact isn't yours and any official or clerk can block it anytime. We shouldn't accept and allow practices like KYC and AML with crypto. Or we'll find ourselves in this situation soon:

https://i.postimg.cc/ryJb3ng3/1519768859.jpg

Yes, we already are in this situation but partially. Especially when we choose crypto instead of banks. So let's don't lose this piece of liberty.

[LoyceV]

Quoting for images (updated):

Hi everyone!

Recently I have noticed one problem on Bestchange and I want to share it with you because I think it's important. I was shocked when noticed this. First I created a topic on the Russian forum, so now I'll translate it here. Sorry for my English, it's not my native language.

So I noticed many exchangers started to have KYC / AML that is completely inappropriate when dealing with crypto. When you start an exchange after sending your coins to an exchanger it may say "your coins are dirty, you must pass KYC". Before if a client refused to pass KYC exchangers returned his coins to a wallet they were sent from. But now exchangers became completely impudent. In many of them appeared a new rule saying they can block your coins for indefinite term. So according to their new rules now they have a right to scam you and just take your coins if they want to. They even don't put this rule about blocking on pages where you make an exchange, you can see it only if you open their rules page and read it carefully.

Also please pay attention to the fact exchangers don't have any authority to perform any KYC procedures, collect client's personal info and ask for it. And of course they don't have any authority to block coins. Because exchangers aren't any kind of legal businesses. They are anonymous persons, not registered financial companies. But they don't want you to be anonymous. So according to them you must send your pesonal info to some noname who don't guarantee you anything and may sell your info everywhere. They think it's ok but it's not.

Also there are exchangers that don't have any AML policy on their website but they block your coins despite of that. For example, https://fixedfloat.com. Look at this:



There are 2 reviews on the screenshot. You can read the English one. The Russian one says they stole coins saying they are "blocked because of AML". They refuse to return the coins. During the conversation FixedFloat's admin was repeating the same thing about AML and in the end Bestchange's admin just closed the dispute and made it gray despite Alex didn't receive his coins and kept asking Bestchange's admin to keep the dispute opened and of red color. You can find both reviews here: https://www.bestchange.ru/fixedfloat-exchanger.html. You can read full conversations, you can use Google Translate to translate the Russian one. The English one already became gray and there isn't any reply saying the dispute starter received his coins. And also there are  many other reviews like these 2 on the FixedFloat's page at Bestchange. So this kind of scam is something permanent there and Bestchange's admin keeps FixedFloat and just closes disputes while people don't get any refunds.

Here is another example, EasyBit exchanger:



This exchanger makes a refund if you refuse to pass KYC. But anyway, they tell you about KYC after you send your coins, not before. So it's a time wasting and hassle. You send your coins without knowing about KYC, EasyBit doesn't have chat so you must reach their support, you may start a dispute on Bestchange etc.  It takes hours to return your own money back. EasyBit has only positive reviews on Bestchange but if you open their page at the rating https://www.bestchange.ru/easybit-exchanger.html you'll see how many gray ones it has. And all the gray ones are about KYC.

Also EasyBit's rules state they can 1. scam you (have right to block crypto you sent them), 2. ask you for a verification as many times as they want without any reason.

There are many exchangers like these 2 on Bestchange. I just provided 2 examples here. All the exchangers like these 2 don't have icons showing they may ask for your personal info if you find them in the exchanger's list on Bestchange. Bestchange shows they don't ask for any verification so people believe it and use exchangers like this. Look at this, no icons:



And here is the example of such icons near exchanger's names when you see the list of exchangers who make exchanges from bank cards:



So why is that? When you want to exchange money from your card you can see in the list an exchanger will ask for your personal info. But when you want to exchange your crypto you don't see this.

People start to exchange crypto without having in mind there is a probability of being asked for KYC and without knowing the exchanger has AML. Many people just don't expect this when dealing with crypto (like it should be). And as I said in the start of this topic many exchangers have link to this info at the bottom part of their websites. Nobody looks there so nobody reads it.

I sent an email to Bestchange's admin and said he must put the icons near crypto exchanger's names and he must remove scammer exchangers which "block" client's crypto. Because if an exchanger doesn't want someone's coins and thinks they are dirty it must return the coins to the client and that's all. All the "blocks" are just scam. But Bestchange's admin refused to put icons saying "AML is everywhere anyway and if some exchangers don't have it they just work bad because they should have it". Well, it's a very weak excuse. Because then why do exchangers who deal with bank cards have such icons? Also AML is not everywhere, that's a lie, especially when dealing with crypto. Also he didn't delete scammer exchangers. So Bestchange's admin knows very well what is happening, he keeps scammer exchangers. He closes disputes when coins are stolen "because of AML". And he doesn't inform people an exchager has any KYC knowingly. If people knew that they wouldn't choose that exchanger, so the exchanger couldn't "block" their coins. The only reason Bestchange's admin misinform people is that he has profit share from scammer exchangers. I think he collaborates with them because I just don't see any other reason not to inform people about KYC by putting "exchanger asks for personal info" icon. I have emails from him and can forward to prove I didn't invent anything. Here are some screenshots from my mailbox, so you can see my email and if I forward the emails you can compare text:




Instead of passing an inappropriate KYC / AML I propose to share this info everywhere. Let's inform people. And let's report to Bestchange's hoster, domain registrator, maybe to antiviruses. Same thing for exchangers who ask for personal data and steal coins. Also I think we must help exchangers to comply with laws. They want it so badly. So let's report to the tax department and authorities (the pay taxex and work legally if they want clients to comply with laws, aren't they?). Because in fact what are we having here is illegal personal data collection (and maybe selling) and illegal coins "blocking". So, they love police, they say they can report clients to the police in their rules, let's help them meet with police loved so much by them. I'll post links to Russian authorities soon.

I think community should act. We can't just ignore such things. If we just keep observing and being passive about that in a few years having crypto will become just like having money in your bank account - when your money in fact isn't yours and any official or clerk can block it anytime. We shouldn't accept and allow practices like KYC and AML with crypto. Or we'll find ourselves in this situation soon:



Yes, we already are in this situation but partially. Especially when we choose crypto instead of banks. So let's don't lose this piece of liberty.

[limitless_777]

Quoting for images:

Thanks I corrected horrible errors in the start post. So now this one has images and the start one has less errors  

[Poker Player]

Best Change defended the business practices quite well the last time there was a similar thread, let's see what he says this time.

Also please pay attention to the fact exchangers don't have any authority to perform any KYC procedures, collect client's personal info and ask for it. And of course they don't have any authority to block coins. Because exchangers aren't any kind of legal businesses. They are anonymous persons, not registered financial companies.

That will be in Russia. You're not going to tell me that Binance or Coinbase are not legal are you?

As far as I remember in the other thread what you are describing already happened. A Russian exchange of which it is difficult to find data or any license, demanding KYC, or else they block coins. At the very least it seems morally questionable, and would not be legal in the EU or USA.

[limitless_777]

That will be in Russia. You're not going to tell me that Binance or Coinbase are not legal are you?

As far as I remember in the other thread what you are describing already happened. A Russian exchange of which it is difficult to find data or any license, demanding KYC, or else they block coins. At the very least it seems morally questionable, and would not be legal in the EU or USA.

Why are you comparing Binance with exchangers from Bestchange? Binance is a legal registered company. Please show me legal info from at least one of the exchangers. You won't find it on their websites. So it's completely different. They aren't legal registered companies, they work anonymously. So they don't have authority to ask for KYC. And Binance has authority to do this. I don't like what Binance is doing and I think it's inappropriate but they have authority. And what exchangers are doing is illegal in Russia too, not only in the EU and USA.

[LoyceV]

Please show me legal info from at least one of the exchangers. You won't find it on their websites. So it's completely different. They aren't legal registered companies, they work anonymously. So they don't have authority to ask for KYC.

From what I've seen in similar cases, many of those exchangers don't own any funds. They use third parties (such as Binance) to process transactions, and if that third party freezes funds, they do the same. The use of third parties isn't explained on their website, they pretend to have their own funds.

I'm okay with fully registered exchanges that require full KYC. I'm also okay with completely anonymous exchanges that don't ask anything.
What's not okay, is anonymous exchanges that ask for personal documents. They can easily use it for identity theft, and you have no idea who they are.

Also: there is no such thing as "dirty" Bitcoin. See [Blacklist] of unreliable, 'taint proclaiming' Bitcoin services / exchanges:

I've seen several posts lately from people willing to treat Bitcoin as non-fungible because they believe some coins are "tainted".
I'd say this is a severe threat to Bitcoin, and I wouldn't be surprised if governments use this because they can't stop Bitcoin in any other way. If people believe Bitcoin is "tainted", they won't accept it anymore. "We" should really inform people not to fall for this.
Nobody would reject a dollar bill because it has previously been used in a crime, despite the fact that 85 to 90% contains traces of cocaine. Claiming Bitcoin isn't fungible is just plain stupid.

Here's a few examples:

Today netex24 exchanger sent me tainted btc.

What's that? Are you saying Bitcoin isn't fungible?

service which i wanted to top up blocked my account.

The solution is simple: don't use services that tell you your Bitcoin is different than another Bitcoin.

I don’t tell that i will return btc. We can trace it. We can mark it.

Bitcoin is fungible. Stop trying to convince people it's not, and stop using services that treat Bitcoin as if it's not fungible.

Lmao you have no glue what are you talking about. Please stop spam in my tread if you don’t know anything about chainanalys, thx

BestChange.com should be added to this list. Even though they're not an exchange, and even though I've used them, they seem to think not all Bitcoins are equal:

Don’t you think exchangers that do not follow AML should be excluded from your site? Or at least marked as untrustworthy.
Today netex24 exchanger sent me tainted btc. And obviously service which i wanted to top up blocked my account.
I checked transaction via AML bot:
 
Risk Score: 50% Medium risk transaction
Medium risk
Exchange ML Risk Veryhigh - 100%

@rokuen
Thank you for the signal, we will certainly investigate the matter to find out all the details and if necessary, will take measures to prevent this in the future. The exchanger you named is one of the largest on over-the-counter and such appeals are the matter of exception.

In any case, your situation requires our involvement. We will certainly get in touch with the service representatives to find out the technical details of your transaction and offer them to change the counterparty, if necessary, if they use some compromised custodial service to store bitcoin.

In line with this, I am interested to know if the BestChange company subscribes to the idea that there are clean and dirty Bitcoins. I mean, yes, there are probably a lot of crimes in which Bitcoins are involved as there are countless others which involve fiat, but do you think that Bitcoins involved in these crimes are tainted and are therefore dirty and shouldn't be accepted by different Bitcoin platforms?

This is not so much our moral position, but the forced adherence to generally accepted norms. Regardless of our or anyone else's opinion, AML purity for cryptocurrency transactions has become as important a property as it is for fiat currencies. Most crypto transactions end up in centralized custodial services that adhere to standard rules for the entire global market, in particular, the fifth AML directive of the European Union (5AMLD). Therefore, in a sense, the widespread introduction of AML made BTC an analogue of NFT of the ERC-1155 standard

This site explains very well what it's all about:

Coin validation proposed to offer as a service to trace coins and try to give you a rating about how the history of the coin from your point of view and to offer that as a service to businesses. I think this could be quite dangerous because it goes back to that 17th century court case where now you could receive a coin that is perfectly valid at the time that you receive it, but a few weeks later a crime is uncovered and now your coin is tainted. So if this coin validation service is advicing many of the merchants where you would want to spend your coin at, it's tainted and now the merchant would refuse to accept your coin. That's a strange experience for you; you're holding a coin that you might have to sell at a discount to get rid of it. The aggregate effect of this might create a run on the bitcoin price. So it reopens this long-set legal principle that currency or currency units are all equal.

I can't stress enough how important this is!

[limitless_777]

I'm okay with fully registered exchanges that require full KYC. I'm also okay with completely anonymous exchanges that don't ask anything.
What's not okay, is anonymous exchanges that ask for personal documents. They can easily use it for identity theft, and you have no idea who they are.

You speak my mind. Unfortunately the majority of people don't pay attention to this and don't think about how unfair it is when someone who is anonymous asks you for your documents.

Also: there is no such thing as "dirty" Bitcoin. See

Many people don't understand this. They think if Binance said there is such thing as "dirty" bitcoin this is so. But Binance isn't some kind of bitcoin god and it doesn't determine what we should concider our bitcoins to be.

[dkbit98]

I wouldn't blame everything on BestChange, but I wrote about their terrible review system multiple times and I demanded improvement and update.
It's interesting that not long ago before you created this topic I asked BestChange about this KYC icons and if they can guarantee that exchange won't ask for verification, they replied NO, they can't guarantee that information is correct.
If exchange is using third party exchange they need to publicly show this and say they can freeze your coins at any time, otherwise I wouldn't use this exchange at all.

What's not okay, is anonymous exchanges that ask for personal documents. They can easily use it for identity theft, and you have no idea who they are.

I totally agree with you, and I would rather use exchanges from list provided by kycnot.me website.
I heard nice things about eXch (they don't use any third party, and they claim to have their own reserves of coins and can prove that), but I never used it so I can't claim how good or bad it is.

[limitless_777]

I wouldn't blame everything on BestChange, but I wrote about their terrible review system multiple times and I demanded improvement and update.

They don't update it because they don't want to. I know people who use Bestchange for years without knowing if there is only a green number showing good reviews it doesn't mean there aren't bad ones, you just don't see it. Many people believe if only the number of good reviews is shown so there aren't any other. The update of the review system isn't difficult to implement. It's a few database queries and can take 30 mins maximum to develop.

If exchange is using third party exchange they need to publicly show this and say they can freeze your coins at any time, otherwise I wouldn't use this exchange at all.

I think the same, exchangers must publicly show they use third party.
But even in this case an exchanger can't demand your personal data and can't freeze your coins. In this case an exchanger should give you contacts of that third party and that third party must be a legal company with an authority to check documents and freeze coins. I mean, anyway an exchanger can't freeze you funds by itself. And now some of them freeze your funds despite their third party didn't freeze anything. Sometimes they do it "just in case" because their third party exchanger may freeze coins received from you a few days later. At least this is the reason they give you. I read about it on other forum.

[examplens]

Please show me legal info from at least one of the exchangers. You won't find it on their websites. So it's completely different. They aren't legal registered companies, they work anonymously. So they don't have authority to ask for KYC.

From what I've seen in similar cases, many of those exchangers don't own any funds. They use third parties (such as Binance) to process transactions, and if that third party freezes funds, they do the same. The use of third parties isn't explained on their website, they pretend to have their own funds.

I'm okay with fully registered exchanges that require full KYC. I'm also okay with completely anonymous exchanges that don't ask anything.
What's not okay, is anonymous exchanges that ask for personal documents. They can easily use it for identity theft, and you have no idea who they are.

I wonder if it is even possible to provide this type of exchanger service without registering a company (of any kind, even if it was offshore).
for every fiat exchange, a bank is required. can the whole business be done as a physical person (no company) and do banks tolerate such things?

[BitcoinGirl.Club]

I wonder if it is even possible to provide this type of exchanger service without registering a company (of any kind, even if it was offshore).

To receive and send money you will need a merchant account and to get a merchant account you will need to be fully KYCed. In most cases (I have not seen any merchant yet) merchant requires company information to open an account with them.

for every fiat exchange, a bank is required. can the whole business be done as a physical person (no company) and do banks tolerate such things?

It's only possible when dealing with cash in person which is of course inconvenient considering the time we are in. No one is okay with cash in hand.

[dkbit98]

They don't update it because they don't want to.

I don't think so, and even if they wanted to keep everything perfect it would be impossible to make everyone happy in crazy world we live today, including kyc regulations.
They probably have financial benefit and percentage earning from listing all exchanges on their website, but they said in public that they can't guarantee anything, so there is always a risk using this exchanges.
I think you still have a chance to provide some documents (one way or another) and send them to this exchange, yes I know this sucks.

[limitless_777]

They don't update it because they don't want to.

They probably have financial benefit and percentage earning from listing all exchanges on their website, but they said in public that they can't guarantee anything, so there is always a risk using this exchanges.
I think you still have a chance to provide some documents (one way or another) and send them to this exchange, yes I know this sucks.

I wouldn't call it "sucks". Some anonymous guy demands your documents otherwise he keeps your money. Do you call this "sucks"? Really? I call it scam. Because these exchangers don't work legally. They are anonymous and work illegally but in the same time they demand docs from you and they freeze your money. They aren't police or any other authority to do this. So, if they can demand your docs, send me your docs too. I'm anonymous too, just like them. And I want to have your docs to sell somewhere (I mean, KYC, I want to know, who you are  ).

They don't update it because they don't want to.

I don't think so, and even if they wanted to keep everything perfect it would be impossible to make everyone happy in crazy world we live today, including kyc regulations.

Why do they put KYC icons near exchangers who deal with bank cards and don't put KYC icons near crypto exchangers? Could it be because crypto is way easier to "freeze" (I mean steal)?

[limitless_777]

I wonder if it is even possible to provide this type of exchanger service without registering a company (of any kind, even if it was offshore).

To receive and send money you will need a merchant account and to get a merchant account you will need to be fully KYCed. In most cases (I have not seen any merchant yet) merchant requires company information to open an account with them.

for every fiat exchange, a bank is required. can the whole business be done as a physical person (no company) and do banks tolerate such things?

It's only possible when dealing with cash in person which is of course inconvenient considering the time we are in. No one is okay with cash in hand.

OMG. You don't know how does it work in Russia. And these exchangers are Russian. Have you heard about darks? Have you heard about merchants registered to other person's name you can buy? Have you heard about Qiwi payment system? You can register there using darks and have a merchant (providing only physical person's passport number). Also you can have Qiwi virtual card and receive money from clients to this card. And almost all exchangers that provide exchanges from bank cards accept funds to Qiwi virtual cards.

[BitcoinGirl.Club]

OMG. You don't know how does it work in Russia. And these exchangers are Russian. Have you heard about darks? Have you heard about merchants registered to other person's name you can buy? Have you heard about Qiwi payment system? You can register there using darks and have a merchant (providing only physical person's passport number). Also you can have Qiwi virtual card and receive money from clients to this card. And almost all exchangers that provide exchanges from bank cards accept funds to Qiwi virtual cards.

I do not have any idea how Russian economy works. In a normal state you will need KYC and company registered if you want to run an online business that needs to accept payment and also to send money. The transactions have to be via the authorized bank or you will be convicted for money laundering.

This is one of the many reason most of the crypto users like to stay anonymous. Who give a sh*t to some centralized agency to determine what you should and should not do.

[limitless_777]

I do not have any idea how Russian economy works. In a normal state you will need KYC and company registered if you want to run an online business that needs to accept payment and also to send money. The transactions have to be via the authorized bank or you will be convicted for money laundering.

Well now you know. For a Russian exchanger it's pretty easy to stay anonymous and run it's business. And almost all exchangers at Bestchange are Russian. All of them are gray. I mean, did you see any legal info of at least one of them on their websites? You won't find it if you try. So why do anonymous people demand ID photos, selfies and videos from users? Why do anonymous people block funds? This is unacceptable and unfair. They can't treat customers like that.

This is one of the many reason most of the crypto users like to stay anonymous. Who give a sh*t to some centralized agency to determine what you should and should not do.

I agree with most crypto users, I stay anonymous too. I'm just saying a normal centralized exchanger at least is a legit company and provides it's legal info. So it has a right to ask for KYC, review transactions and block funds. I don't like it and wouldn't use an exchanger like that but what it does is legitimate and fair. And if it's users like to pass KYC it's their decision. But in case of a gray exchanger it's different. Because it runs it's business anonymously so can't ask for KYC.

[holydarkness]

Not trying to defending them or anything, especially since I'm not benefited from anything or related by any degree to them or even tried their platform once, which --I think-- is why my opinion leads leans to a more neutral side, but isn't saying them a scammer just because they failed to mention that an exchange required KYC is a tad bit overstatement?

I mean, sure, yeah, they get some money from users using their platform, and for that they ought to do at least certain degree of DD toward the exchanges they list on their platform, but ultimately it is also the users duty to perform their own DD. And it's not that difficult to get info if this exchange requires KYC or that exchange don't. Their FAQs usually covered this, or a simple reading of reviews from several sites

Don't get me wrong, I do love my anonymity. That's why the first thing I look for before signing up into a new exchange --not that I use a lot-- is their KYC and limitations for non verified users.

You might also want to edit this sentence and add a word "some",

Also please pay attention to the fact exchangers don't have any authority to perform any KYC procedures, collect client's personal info and ask for it. And of course they don't have any authority to block coins. Because exchangers aren't any kind of legal businesses. They are anonymous persons, not registered financial companies.

In many countries that tries to regulate crypto --more to control them, actually, but they choose a good political term-- an exchange needs to comply to their fintech regulations, where one of them mostly includes a compliance to KYC/AML. So yeah, they do have an "authority", they're kinda required by the country's rule. And again, let's say an exchange in R country called EB --these names is obscured by intention-- requested you for  KYC although that's not required by their country and, thus, they're not authorized to ask for it. How's that bestexchange's fault? You're kinda the one agreeing to it, EB is the one that asked you for it, but Bestexchange didn't force you to.

Edit: realizing I used a wrong word that I'm trying to say

[fixedfloat]

We would like to clarify the situation with the accusations against us.

The "Terms of service" page in section 6 states that the service is prohibited from being used for any illegal purposes, and also, if fraudulent or stolen funds are sent to our addresses, the funds may be frozen until the source and legality of the funds are known. Freezing of funds is possible only if we have proof that the funds sent to our address were received as a result of fraud or theft.

Each case is considered individually. We rely only on the availability of reliable information from reputable services that are responsible for providing correct and up-to-date data, having strong evidence that can also be provided to an independent third party to participate in resolving the incident.

Regarding your screenshot, where two reviews are displayed, where we allegedly froze user funds for no reason - we all have evidence that user funds were obtained fraudulently. We never block our clients' funds without having a reason to do so. In both cases, an inspection was carried out both on our part and on the part of the monitoring to which we provided all the evidence for each of the incidents. In addition, we repeat once again that we never request the personal data of our customers, in order not to affect their anonymity, we only request information about the origin of funds, which is easy to provide

We are as loyal as possible to our customers, however, if there is information about specific crimes and the processing of orders related to these transactions, our service may be recognized as an accomplice in a crime and, as a result, be closed.

By placing an order on our website, they agreed to the rules of our service, which include a clause prohibiting the use of our service for any illegal purposes.

[PrivacyG]

Keep in mind I wrote all of this before Fixed Float replied.

I am not defending Fixed Float in any way and am strongly against the practice of selectively scamming clients by seizing funds for suspicion of money laundering.  Let us call it for what it is, seizing for this reason is most of the time used as a legal excuse for selective scamming.

On the other hand, if their Terms of Service mentions this then it is the customer's fault.

Interestingly, I moved tons of funds through some of these Exchanges and Fixed Float had the chance of freezing significant amounts from me before.  I successfully completed a few hundred transactions with them, using multiple identities.  They did not selectively scam me, although they had multiple chances.

I remember Fixed Float never had KYC or AML specified in their Terms.  Otherwise I am sure I would have not used it at all.

But truth is, most of these Exchanges have Anti Money Laundering procedures of some sort even if they are not mentioned and many of them seize your funds using the 'prohibited use' part of their Terms.  I have yet to see an Exchange mentioning they are NOT going to seize suspicious funds.

If they did specify an AML policy in their Terms, then I am stupid myself for missing that part and trusting them with significant amounts.  If they did not, then scam (AML excused seizing) it is in my opinion.  But this is Fixed Float with the evil, not Best Change.

I find it weird these two Fixed Float reviews were posted the same day.  Maybe they started seizing funds more often recently, and only now we are starting to find out.  Anyway.  I think Best Change should place a warning on the Fixed Float page about them selectively seizing funds but if they delete Fixed Float from their website, then Best Change can also close their business as it is very true AML and KYC is almost everywhere nowadays.  But I can not go from here to blaming and accusing Best Change for intentionally keeping and collaborating with scam Exchanges.

-----

an inspection was carried out both on our part and on the part of the monitoring to which we provided all the evidence for each of the incidents.

Are you actively working with Blockchain Analysis companies to analyze each and every transaction coming through your wallets?  How do you they work so quickly to give a final answer within a matter of minutes as to whether or not a transaction is related to crime?

-
Regards,
PrivacyG

[examplens]

Regarding your screenshot, where two reviews are displayed, where we allegedly froze user funds for no reason - we all have evidence that user funds were obtained fraudulently. We never block our clients' funds without having a reason to do so. In both cases, an inspection was carried out both on our part and on the part of the monitoring to which we provided all the evidence for each of the incidents.

after you block suspicious funds, what do you do with them?
Do you keep it for yourself, return it to the same address where it came from or something else?

We are as loyal as possible to our customers, however, if there is information about specific crimes and the processing of orders related to these transactions, our service may be recognized as an accomplice in a crime and, as a result, be closed.

By placing an order on our website, they agreed to the rules of our service, which include a clause prohibiting the use of our service for any illegal purposes.

why can't I find any information about your company on your website?
Are you a legally registered exchanger or just use the possible loophole that limitless_777 mentioned here?