Bestchange keeps scammer exchangers and probably collaborates with them

[fixedfloat]

In order to continue the exchange or return the money, we must make sure that the funds were received honestly, as well as get all the information about the source of the funds received.

cannot provide us with information
information about the source of the funds
providing the requested data

All the information about the source of the funds received.  Like what?  In an investigation, what kind of information is requested as proof of origin?  You are being too vague.

I will provide you a hypothetical scenario.  I send 0.5 BTC to your Exchange address.  My 0.5 BTC were obtained from Bisq, but I have long since uninstalled Bisq so I have no screenshots or recorded proof of origin.  The transaction before mine was a hit man payment.  You have evidence of this, I have no idea about it.  What exactly would Fixed Float request me to provide as proof of origin?

If the user has nothing to do with the crime and did not know that the funds he received were criminal, then we have no reason to withhold these funds.

So if tomorrow all your customers deposit Coins from illegal sources they did not know about, you are perfectly fine with your company exchanging funds with criminal origin?

If LoyceV receives Bitcoin from a criminal origin, proves to be innocent and forwards the amount to me.  Exchanging funds with criminal history on Fixed Float is now fine?

Of course, we will not publish the blocking list, since we do not cooperate with cryptocurrency scammers and thieves,

Why not publish it?  I want to know who on the Blockchain is a known confirmed criminal with strong evidence so I can avoid them.  How else do you want me to have Bitcoin earned from legitimate origins if I do not even know who are the illegitimates first of all?

-
Regards,
PrivacyG

Different proofs are required for each case, depending on each case

The Bisq example is not entirely correct, but in the mentioned case, in the absence of evidence from the sender, we will act on the instructions of the law enforcement agencies investigating this case. You should not delete evidence of receiving funds from any services, as this may become a problem for confirming the source of funds.

The publication of our blocklist will provide information to criminals that their crime is known, and will help in their laundering. We will not assist criminals in any way. Honest users will be able to provide the necessary data if they have deleted this data purposefully.

[LoyceV]

You should not delete evidence of receiving funds from any services, as this may become a problem for confirming the source of funds.

That's not up to you to decide. When I pay cash in a shop, they don't ask me where I got the money. Exchanges in the Seychelles shouldn't ask for my personal administration either.

Any response to this?

Okay, hypothetical: let's say you've blocked my funds, and I tell you I got it from the Currency Exchange board. A simple, honest p2p trade. Is that enough for you to return my funds?

I take it you don't want to answer it, which is fine, but I'll draw my own conclusion.

we will act on the instructions of the law enforcement agencies investigating this case.

This is another interesting thing: I don't think most law enforcement agencies are very willing to work with an anonymous company in the Seychelles. But apart from that, what makes you think any "local" law enforcement agency holds jurisdiction over international financial crime? Or even better: how do you even know you're really talking to law enforcement, if they're based in a country you know nothing about?

[examplens]

Their silence is starting to say more than they said in all their 5 posts on this thread.

regardless of whether they read or write a post here, it is much more interesting how they completely avoid giving specific answers, and they were asked a lot of essentially very important questions. I believe that they can answer endlessly in general, without giving a concrete answer.

[PrivacyG]

Different proofs are required for each case, depending on each case

You have been avoiding answers for days, this only makes it look worse.  How many times did we ask you the same thing and you only found ways to avoid the answer?  You are digging your own grave at this point.

List a few documents you may request.

but in the mentioned case, in the absence of evidence from the sender, we will act on the instructions of the law enforcement agencies investigating this case.

Many countries do not have the best relationship with Russia overall.  If we are talking about a Russian crime that only Russian law enforcement is investigating, do I have to obey to Russian law enforcement instructions in order to gain my funds back?

You should not delete evidence of receiving funds from any services, as this may become a problem for confirming the source of funds.

Who are you to tell me what I should do with my software really?  If I made a Bisq trade and do not use the Bitcoin I received for 10 years, am I supposed to keep my Bisq installed just in case FixedFloat decides to arbitrarily seize my funds?

Do you sign a contract when giving your children or nieces a bill of $10 just in case some body asks them where they got the money from?  In my country people often to go to a random shop and politely ask them to exchange large bank notes into smaller ones for change.  Am I supposed to keep a record of this just in case some body asks for the source of funds?

Honest users will be able to provide the necessary data if they have deleted this data purposefully.

What kind of data can I provide you to prove the coins I received were in fact from a legitimate and fair trade made on a software I deleted?

-
Regards,
PrivacyG

[fixedfloat]

In order to continue the exchange or return the money, we must make sure that the funds were received honestly, as well as get all the information about the source of the funds received.

Okay, hypothetical: let's say you've blocked my funds, and I tell you I got it from the Currency Exchange board. A simple, honest p2p trade. Is that enough for you to return my funds?

If the funds were received from a p2p exchange, then we will request details of this exchange, when and under what conditions it was made, where the user who wants to make this exchange was found and all correspondence with him.

If it turns out that the client initially knew that the funds were stolen and went to the exchange due to the low exchange rate of coins, then this is equated by law enforcement agencies to complicity in a crime, namely, assistance in money laundering. If the transaction was absolutely transparent and the client has all the data about the completed exchange, then we will have no reason to further withhold these funds.

[PrivacyG]

If it turns out that the client initially knew that the funds were stolen

Wait a second.  Do you actually think if I go and make a Peer to Peer trade with some body they will message me privately saying Hey dude, look we will do this trade but just so you know the money you'll receive was stolen?  I never spoke to my Bisq traders.  Ever.

If the transaction was absolutely transparent and the client has all the data about the completed exchange, then we will have no reason to further withhold these funds.

Or do you actually think that before completing a trade I will request the trader to provide me information about their source of funds?

Go try to make a face to face transaction with some body and ask them where they got the money from.  They will laugh in your face and leave.  I am convinced more than 90% of the Peer to Peer trades are very straight forward with zero of minimum communication between the seller and the buyer.  Speaking from own experience.  If you ask me right now to provide you any communication with any one I traded with, I have none nor did I ever have any.  I just send my part and they send theirs in exchange.  Why would I care about the person I am trading with on Bisq.  It is their problems to solve if they are doing the crime, not mine.  What I am doing is an Exchange.

-
Regards,
PrivacyG

[fixedfloat]

Can you please tell us what magical tools are you using that proves some coins are coming from hacks and stolen funds??

We use our own block sheets, and our own transaction verification systems. For some currencies, systems offered by specialized services are used, for example, for XRP we use a checker from xrplorer.com

So is this customer limitless_777 also being refunded to other address or not?

The user limitless_777 did not indicate whether his funds were frozen in our service and what order is in question, so we have nothing to answer this question.

[fixedfloat]

But, I'm also aware and understand that different country applies different rules. Maybe IRS staff may asked what the tax staff in my country aren't allowed to. So, since you're stating that you're based in Sechyelles, could you point us to the regulation article specifically mentioning this matter? I'm sure we're one google away to verify that if you can help with the article number.

Seychelles does not regulate these issues. However, we work as an international company and are obliged to respond to requests from law enforcement agencies for information, as well as the freezing of funds. Otherwise, sanctions may be imposed on our service, as a result of which the existence of the service will be impossible.

You mean as in morally obligated? As in you're not actually required by Sechyelles, but you want to be a law abiding citizen and friendly neighborhood err... exchange, so you choose to be nosy and ask for the sources? Or is it legally obligated by some international law? I can understand that maybe there's a global law that applied against AML-ATF that we are somehow didn't aware of its existence. But rest assured, you can just state the article number and we're back on track. The question, simplified, is: are you just being nosy or can you point us to the regulation that made you authorized to ask people to provide proof of source of fund.

It'll be quite a different story if by asking to provide, you were meaning to say that your clients just needed to state where it came from without actually providing the proof of transaction, written contract, etc. just like my illustration with the bank staff and my goldfish. For this, though, you'll then intersect with and have to answer LoyceV's question above. And if I may jump in and broaden the hypothetical scenario, the fund is actually came from harmful source and will actually be used for terrorism funding. Is simply saying someone got it from p2p board enough?

Formally, we must act in accordance with FATF (probably it is not necessary to explain that this involves the introduction of KYC for most exchanges), however, we want to provide our users with greater convenience of using our service without taking away the anonymity of exchanges, for this reason we chose the way of requesting data only in exceptional cases, such as the explicit presence of evidence that the funds were obtained by criminal means. In particular, we also feel morally obliged to help the victims who turn to us, as well as our partners. The frozen funds are returned to the victims from whom the funds were stolen.

Requesting information about the source of funds is also practiced on all major exchanges, even on those where KYC has already been passed, if information is received that the funds were obtained by criminal means.

Each case of data request is different. In the vast majority of cases, the provision of data is possible without any deanonymization. If the funds were received by the user from an obvious criminal, then in this case, of course, we will need all the data that can help law enforcement agencies identify the criminal.

[fixedfloat]

You should not delete evidence of receiving funds from any services, as this may become a problem for confirming the source of funds.

That's not up to you to decide. When I pay cash in a shop, they don't ask me where I got the money. Exchanges in the Seychelles shouldn't ask for my personal administration either.

In no case do we force you to follow this recommendation, but if you need to provide the source of origin of funds, it will help to resolve this issue faster.

Any response to this?

Okay, hypothetical: let's say you've blocked my funds, and I tell you I got it from the Currency Exchange board. A simple, honest p2p trade. Is that enough for you to return my funds?

I take it you don't want to answer it, which is fine, but I'll draw my own conclusion.

We have the answer to your question ready, we will duplicate it again.

If the funds were received from a p2p exchange, then we will request details of this exchange, when and under what conditions it was made, where the user who wants to make this exchange was found and all correspondence with him.

If it turns out that the client initially knew that the funds were stolen and went to the exchange due to the low exchange rate of coins, then this is equated by law enforcement agencies to complicity in a crime, namely, assistance in money laundering. If the transaction was absolutely transparent and the client has all the data about the completed exchange, then we will have no reason to further withhold these funds.

we will act on the instructions of the law enforcement agencies investigating this case.

This is another interesting thing: I don't think most law enforcement agencies are very willing to work with an anonymous company in the Seychelles. But apart from that, what makes you think any "local" law enforcement agency holds jurisdiction over international financial crime? Or even better: how do you even know you're really talking to law enforcement, if they're based in a country you know nothing about?

We receive dozens of requests a day from law enforcement agencies of a huge number of countries. All requests are sent from official email addresses (which of course are checked) by law enforcement agencies, contain signatures and seals. In the future, we are going to provide a transparency report on the number of requests processed.

[fixedfloat]

Different proofs are required for each case, depending on each case

You have been avoiding answers for days, this only makes it look worse.  How many times did we ask you the same thing and you only found ways to avoid the answer?  You are digging your own grave at this point.

List a few documents you may request.

As we answered earlier, in each specific case, the set of requested data may be different depending on the information provided from the client, but below we have listed some list of possible requests

but in the mentioned case, in the absence of evidence from the sender, we will act on the instructions of the law enforcement agencies investigating this case.

Many countries do not have the best relationship with Russia overall.  If we are talking about a Russian crime that only Russian law enforcement is investigating, do I have to obey to Russian law enforcement instructions in order to gain my funds back?

In order to speed up the process of reviewing the incident, it is necessary to cooperate with the law enforcement agencies of the country in which the crime is being investigated, in this case with the law enforcement agencies of Russia.

You should not delete evidence of receiving funds from any services, as this may become a problem for confirming the source of funds.

Who are you to tell me what I should do with my software really?  If I made a Bisq trade and do not use the Bitcoin I received for 10 years, am I supposed to keep my Bisq installed just in case FixedFloat decides to arbitrarily seize my funds?

Do you sign a contract when giving your children or nieces a bill of $10 just in case some body asks them where they got the money from?  In my country people often to go to a random shop and politely ask them to exchange large bank notes into smaller ones for change.  Am I supposed to keep a record of this just in case some body asks for the source of funds?

In no case do we force you to follow this recommendation, but if you need to provide the source of origin of funds, it will help to resolve this issue faster.

Honest users will be able to provide the necessary data if they have deleted this data purposefully.

What kind of data can I provide you to prove the coins I received were in fact from a legitimate and fair trade made on a software I deleted?
-
Regards,
PrivacyG

Correspondence, transactions may be requested; confirmation of ownership of the address by sending any transaction; links and contact details of the user who sent funds from an address explicitly related to the crime; if the funds were received from a mixer that directly sent funds related to the crime, then simply providing information to confirm receipt of funds from the mixer.

[PrivacyG]

Correspondence, transactions may be requested; confirmation of ownership of the address by sending any transaction; links and contact details of the user who sent funds from an address explicitly related to the crime; if the funds were received from a mixer that directly sent funds related to the crime, then simply providing information to confirm receipt of funds from the mixer.

So.  If I provide correspondence, all TXID's, confirm the address is mine and provide a screenshot of the seller's Bisq profile then I am good to go?

-
Regards,
PrivacyG

[limitless_777]

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

I don't know what origin of funds exactly means, but I am sure it includes some kind of customer personal information.
If this is so easy, can you also prove origin of all coins you own as a business, I am sure it's much easier for you to do this?
Can you please tell us what magical tools are you using that proves some coins are coming from hacks and stolen funds??

We cannot make a refund to the same address because the address is compromised. We are starting the refund procedure for the victim.

So is this customer limitless_777 also being refunded to other address or not?

They didn't seize my funds, I just saw they scam many people so I reported.

Like yes, we will seize your funds if our friends say your address is bad.  Who decides my address is bad and how?  Is it not just very easy to use this reason to seize a few dozen thousands just because someone told us it comes from bad origin?

As I stated in my other answer.  Seizing for 'bad origins' is mostly used to legally selectively scam customers.

-
Regards,
PrivacyG

That's what I'm trying to say in all my posts in this thread. Some anonymous guy says "well, I think your funds are from bad origins so I'll seize them and will keep them, bye, thanks". The reason of seizing is "our partners said" or something like that. And more than that, you don't know anything about this guy that wants to check you and your funds origins, he keeps staying anonymous but in the same time he demands all info he wants from you. Is it fair? And it's not only FixedFloat. All exchangers at Bestchange that have KYC do so. That's the point. And Bestchange keeps them there, disputes become gray and admin says everything is ok. And doesn't want to put at least KYC icon near exchanger's name if the exchanger has KYC. It looks like Bestchange wants to hide this info from users.

Speaking for my own country --which will remain unspecified-- even centralized financial institutions are not allowed to ask for their customers to provide proof of funds origin. Asking where from and what for? Sure, they asked that, but their customer may just said whatever crossed their mind. "My goldfish died yesterday and inherited me 1 trillion dollars, which currently you're seeing right now. For what does the funds for? Well, I'd like to build shelters for homeless koi fish" and the bank would accepted that answer without asking their customer to provide the proof of... will... by the goldfish. The authority to ask for proof of fund's origin fall into the hand of the govt. themselves, specifically their tax and financial dept. upon investigation.

Recently I even learned that during a preliminary investigation of tax evasion and/or money laundering, the tax dept. --similar to IRS, I think-- staffs are not allowed to ask for the source of money too, let alone to ask the "suspect" to provide proof of source. They only allowed to ask for confirmation if the said person owned certain value and assets that they flagged and where from. It's until further investigation of AML and tax evasion that the person are obligated to provide the proof of sources and other articles asked. And I'm talking about the govt. themselves here, the one who held kinda "absolute" power. So how does a decentralized org. in your country required and given an authority to ask for the same is... beyond me.

This is what I'm trying to tell! Even banks and government must have proofs of crime committed or a proof there is an investigation to seize funds. So why the hell some anonymous guy in internet who doesn't even provide customers his legal info (so he isn't a legit company since there isn't any legal info about his business) seize funds? I think that guy overestimates himself. And the only real reason of this is that customers send their coins to that anonymous guy first. So when you have sent your funds and don't have control of them an exchanger demands anything it wants from you and do with your money anything it wants too. This is the only reason, not government requirements or laws.

But, I'm also aware and understand that different country applies different rules. Maybe IRS staff may asked what the tax staff in my country aren't allowed to. So, since you're stating that you're based in Sechyelles, could you point us to the regulation article specifically mentioning this matter? I'm sure we're one google away to verify that if you can help with the article number.

Does he have any proofs his exchanger is a company based in Seychelles? Why should customers think this is true, because he says so? I mean, any company must provide it's legal info on it's website. With it's legal registration number or so, it's legal name etc. So where is it? Why doesn't he put this info on the website? Why doesn't he provide this info here and just ignors this question? It's because he isn't any kind of a company, just an anonymous guy seizing funds

We cannot make a refund to the same address because the address is compromised. We are starting the refund procedure for the victim.

so besides being an exchanger, you are also the police, prosecutor and judge. I wonder who gave you the licence for that.

can you present a successful example here where you confiscated dirty money and returned it to the victim? I mean example with all evidence.

We work all over the world, based in the Seychelles.

 
this information is certainly reassuring and instils confidence in all your clients. at some point, you ask for all KYC information from the user, while we know nothing about you. it's a bit excessive for someone who presents himself as a judge, prosecutor, or exchanger...

This is the point I'm so happy I'm not the only person who undertands this.

[LoyceV]

All exchangers at Bestchange that have KYC do so. That's the point. And Bestchange keeps them there, disputes become gray and admin says everything is ok.

BestChange needs competition. There's KYC? Not me!, but it still lists several of the same exchangers and doesn't have the marketing budget to promote it.

Some anonymous guy says "well, I think your funds are from bad origins so I'll seize them and will keep them, bye, thanks"

It was suggested before that someone creates their own "Taint detection service", that just labels every address as clean. After all, that's how Bitcoin and fungibility works.

[limitless_777]

BestChange needs competition. There's KYC? Not me!, but it still lists several of the same exchangers and doesn't have the marketing budget to promote it.

I'm thinking about creating an exchangers rating. But it would rather be an antirating. So I want it to be a people's rating where users could add exchangers and could edit info of exchangers. Like in Wikipedia. There won't be an admin who will have all the power and decide everything. All the bad reviews will be posted without proofs and all the good reviews must have proofs the exchange was actually made. And exchangers will have the following icons: kyc, can scam you (seize funds), has legal info, has history of scam from other ratings, has rules on the website (some exchangers don't have links to rules to hide them from users), exchanger collaborates with police and can provide the police all your data. So users will edit exchanger's info on the rating and for example make some icons gray or red. And also there will be "report" buttons. I don't think we should just passively observe the horrible behavior of some exchangers. I think we should report them to hosters, domain registrators, police (why not? they collect our info and tell they report customers, so it would be fair if customers report them first and exchangers almost always run their business illegally).

What do you think? Does community need a rating like this?

[LoyceV]

I'm thinking about creating an exchangers rating.
~
What do you think? Does community need a rating like this?

Go for it! Only one way to find out if it will be popular. And if it becomes popular, you'll add referral links to the exchangers, after which you'll have a financial interest in keeping them on your website.

[limitless_777]

I'm thinking about creating an exchangers rating.
~
What do you think? Does community need a rating like this?

Go for it! Only one way to find out if it will be popular. And if it becomes popular, you'll add referral links to the exchangers, after which you'll have a financial interest in keeping them on your website.

Actually I'd like to receive donations if it becomes popular  I don't want to have any money from exchangers because in this case I won't be independent and I want to stay neutral and protect interests of customers, not exchangers Also a website like this doesn't need an expensive server and the content will be generated mostly by the community so I'll spend much time only in the beginning when I'll create it.

[holydarkness]

[speechless]

I'd like to firstly congratulate you, your jumbled explanation on this page only actually managed to make me stare at my screen for I'm not sure how long, it' a long minutes, re-read the entire page and found myself stared at my screen again because I'm not sure what's the best way to approach your situation. I even finally slept on it. So, I think this is the best way to address you and your sea of explanation, and trust me, I've wrote a very-very long post, but then decided to wrote a very simplified version. It's there in my draft, if you'd like to read.

So, simplified, if someone can't prove he's not related and didn't know the user he trade with, his account will be banned. If he can't provide proof of transaction, his account will be banned. If he bought a stolen money and can't prove his innocence, his account will be banned. In short, anyone using your platform, although they're free from KYC, they have to know a full details of the people they're about to transact with prior to using ypur platform or they'll be banned? Not sure if that's convenient, or if the info you inquire can be categorized as a legal questions, and not a harrasment, or extortion.

And what's the parameter of innocence? If A and B are friend and A tried to launder the money he stole from C through B who's about to sell it to D, which then put the money on FixedFloat, and they discussed it through a disposable chat platform, or even meeting face to face, or by paper airplane a-la high school students, or whatever, and since you found that D didn't know anything and somewhat can prove that B is not related and "didn't know" that the money is stolen, they'll get out of it? This means you're the ultimate judge of which fund is frozen and which one isn't?

Next, I still can't understand this statement,

The publication of our blocklist will provide information to criminals that their crime is known, and will help in their laundering. We will not assist criminals in any way. Honest users will be able to provide the necessary data if they have deleted this data purposefully.

How?

If any, it'll tighten their wiggle room. By having their address published, anyone is one or two steps away from tracking of the user and the true nature of the fund. No body would want to deal with the address owner and we can say good bye to the ML and TF.

But you choose to withheld this piece of very useful information. Clueless users who came to your platform wouldn't know what's about to hit them. All they know was they're dealing with someone --who probably dealt with someone else before them-- and boom, he went bankrupt in a day because all of his lifesaving is confiscated. The terrorist? Well, they sat calmly in their fortress, they've successfully launder their money, thanks to the cluelessness of the cryptocommunity because one of them didn't know the address they had a transaction with is belong to Gru.

Now, let's address your claim of emails from authorities accross the countries, what's the nature of this request? For you to stop harassing and extorting their citizen? Or to cease and desist?

Talking about FATF, were Seychelles fully FATF compliant? Last I check, Seychelles still arranging their regulations to meet thr standard, and from the evaluation taken in 2020, they're just meet 12 of the 40 guidelines FATF issued. Not sure which from those 12 speciefies what and if your actions were included and justified by those 12 compliantce, or if being nosy --and self appointed judge-- like this make you a progidy or a vigilante or an extortionist.

[...]
There won't be an admin who will have all the power and decide everything. All the bad reviews will be posted without proofs and all the good reviews must have proofs the exchange was actually made.
[...]

Beware of this point, it could backfire. We can only imagine what length a competitor would do to defame their fellow competition. For example, without having to submit a proof for bad review, a company called worstexchange could create hundreds of accounts to wrote bad review about his fellow competition, goodexchange. And without an admin who can moderate or decide the legitimacy of those fake reviews, your system would turn into a battlefield of reviews before ultimately collapsed.

[limitless_777]

Beware of this point, it could backfire. We can only imagine what length a competitor would do to defame their fellow competition. For example, without having to submit a proof for bad review, a company called worstexchange could create hundreds of accounts to wrote bad review about his fellow competition, goodexchange.

Yes, but for the other hand, now we have the opposite situation in which all the positive reviews aren't moderated by admins of ratings. So exchangers write positive reviews for themselves. And I don't see many bad consequences of this. The problem is bad reviews become gray, not good reviews posted without proofs. Also there are sites like WoT and Trustpilot. They don't check if you actually were a customer when you post a bad review of some business. Of course competitors write bad reviews to each other but it doesn't harm WoT and Trustpilot and doesn't turn these websites to battlefields. So, theoretically I agree with you, but practically I don't see the situation described by you on reviews websites.

And without an admin who can moderate or decide the legitimacy of those fake reviews, your system would turn into a battlefield of reviews before ultimately collapsed.

And as for admin's power. Wikipedia is created by community and it's ok. And I'm not saying moderation isn't necessary. For example, if some users say worstexchange asks for kyc I think I should read worstexchange's rules and maybe speak with worstexchange's admin to check if these users tell true. But moderation (in the meaning of checking if some info is true) and power aren't the same thing. I mean, there won't be an admin deciding "I'll make this review gray or delete it because I want to" or "I won't put this icon because I don't want to".

Also I think nothing is perfect. If I create the exchanger rating and see it doesn't work the way I expected so I'll change things that don't work as expected.

[PrivacyG]

And what's the parameter of innocence?

I wish FixedFloat answered my previous reply before you posted this, but you beat me to it.  I was ready to paste and publish a pre written answer no matter their reply.

Fixed Float said this.

Correspondence, transactions may be requested; confirmation of ownership of the address by sending any transaction; links and contact details of the user who sent funds from an address explicitly related to the crime; if the funds were received from a mixer that directly sent funds related to the crime, then simply providing information to confirm receipt of funds from the mixer.

So they provided a list of proof they can request.  To which I replied,

So.  If I provide correspondence, all TXID's, confirm the address is mine and provide a screenshot of the seller's Bisq profile then I am good to go?

If the answer is negative, then to me it becomes obvious this is selectively scamming and not about solving crime cases.  Either this or they are going to request information that does affect your privacy, which means they lied.  The other option is continuing to request irrelevant information from the customer until the customer gives up, similar to the way Free Wallet proceeds.

If the answer is positive, then the entire system is useless and a waste of time.  On both ends.

I asked the quoted question above thinking of a setup where a criminal sets up a trade between them and themselves, deposits the funds onto Fixed Float and pretends they never knew their Bitcoins have illegal origin.  They provide correspondence, although they spoke to themselves, all TXID's, confirm the address is theirs, provide a screenshot of the fake seller's Bisq profile.  Then what happens is you are enabling funds with criminal origin to be used onto your service and the criminal becomes innocent.

Which begs the question, of what good is their action to freeze funds if a very simple loop hole can be done within minutes to basically make the money legitimate?

And all of these services have the guts to pretend they are saving the world.  Pretending to be the hero in a super villain movie.  Fixed Float's way of saving the world can be easily exploited by a criminal.  The criminal becomes innocent and the innocent customers like me get selectively scammed by having their funds frozen and seized.  The criminal gets their money back through their simple setup, I get my funds stolen by Fixed Float for not thinking the unthinkable: I uninstalled the Bisq I used a few years ago and have no proof of my trade, therefore I deserve to have my money taken away.

This is B S.  There is no service in the world that can explain they are doing good by imposing Know Your Customer procedures.  If anything, Know Your Customer enables my identity to be stolen and legitimate customers to be robbed off their Bitcoin while criminals continue their job with no barriers.

-----

How?

If any, it'll tighten their wiggle room. By having their address published, anyone is one or two steps away from tracking of the user and the true nature of the fund. No body would want to deal with the address owner and we can say good bye to the ML and TF.

Because according to Fixed Float, if you have a serial killer on the run TV channels better not reveal their face!  This enables the criminal to escape, are they not right?

If they publish addresses of criminals, we know what to avoid, spare time investigators have what to investigate and connections will inevitably be made.  If not today, maybe in an year.  Maybe in five, who cares as long as the criminal is revealed.

Someone will definitely have links bookmarked and monitored.  We have some Bitcoin Talk members stalking even addresses that have not moved coins since 2010.  If they know an address is linked to crime, they will be even more curious to investigate.  One mistake and the criminal's history is revealed from the beginning to the end.  But of course it is easier to avoid the truth and any concrete answer than say out loud that they were and are in the wrong.

Funny in such a sad way that we are living in 2022 and fighting for logic.

-
Regards,
PrivacyG

[dkbit98]

BestChange needs competition. There's KYC? Not me!, but it still lists several of the same exchangers and doesn't have the marketing budget to promote it.

As far as I know Kycnot.me is not taking any percentage earnings from listing any exchanges and services on their website, it's open source project and anyone can contribute and post suggestion.
BestChange is commercially oriented service and I am sure they earn something from every exchange that is listed, even if that was never officially confirmed.
I would also like to see someone stepping up to be real competition for BestChange, that would also make them try to improve and be better.

PS
Kycnot.me does accept donations in BTC and XMR:
https://kycnot.me/about