On March 20, 2023, I woke up to a nightmare on OKX exchange.
They
disabled my withdrawals/deposit without notice, claiming there was a change in their terms of service (TOS).
To make matters worse, they hold my funds hostage and refused to provide me with the updated TOS, which they claimed was the reason for the withdrawal freeze.
I reached out to their customer service, but they offered no solution except to perform identity verification, which was not the issue at hand.
I reminded them that their actions were illegal and requested them to release my funds or
provide me with the updated TOS. However, they kept giving me the runaround, and to this day, I am yet to receive any satisfactory response.
" Due to the adherence of compliance policies, we hereby regretfully inform that unverified users are unable to perform any withdrawals for the time being, and we are no longer supporting one-off / temporary withdrawal requests. "
Previously, OKX always allowed unverified accounts to trade and even had a specific KYC0 level account type with a 10BTC daily withdrawal limit.
Beware of OKX exchange's unethical practices. They can hold your funds hostage, disable withdrawals without notice, and even change their TOS without notifying you.
I urge other users to be cautious when using OKX, as they have shown a disregard for their users' rights and wellbeing.
Another friend of mine is in the same situation, so I assume this affects all unverified accounts.
It is astonishing how exchanges of this size are treating their clients in such a manner.
edit: they removed me from their telegram and delete my messages for bringing this up without saying anything, effectively acting like scammers.