Question about Freezing of account

[palle11]

That's it, cause bo legitimate exchange will ask for a deposit for verification purpose, they can go for extensive KYC processing if they feel some kind of money laundering or anything that goes against their terms but just smell it as scam when they ask money to release their money and this type of scam isn't new but the scammers are coming with new domains which almost resembles the existing reputed or new exchange.

The story from beginning has ingredients of scam alert. For exchange to ask for a deposit before you withdraw your fund, that means they want to further scam you. We have to raise a doubt within us when something unusual of that nature relating to money start to happen. We have to be careful from the source that we click to register whatever we are doing because that is where the mistake start from. Regarding to exchange, I think we can be better searching through CMC to get the actual domain of an exchange.

[crwth]

I hope that your friend wasn't scammed with this method. Probably her email got leaked and the scammers pretended to be as an exchange and then made it look like she is making transactions with the original site. It's definitely going to be a problem if she deposits or something. I don't know what kind verification that is but it might just be an attempt to get money from leaked emails or something.

I hope no one is going to get scammed anymore with this method.

[tvplus006]

...Can we report this exchange
Its bitrue but ends in [.cm] not [.com]

Yes, indeed, this exchange has nothing to do with honest exchange. This exchange is not even included in the list of registered exchanges on the Coinmarketcap rating. Only this data is enough to claim that the exchange is a scam. The fact that your friend has lost money is a fait accompli. But you can save another 20% that they require for unlocking.

[SamReomo]

I agree with you completely. It's very likely that the trading exchange is involved in fraudulent activity, as such exchanges are often run by scammers who aim to deceive innocent people. The fact that they froze her account without any valid reason is a clear indication of this. Their request for a 20% deposit is also a sign of scamming. Scam platforms often ask for funds or credit card information in the name of verification, only to later empty the user's account.

I too have faced such behavior from an options trading platform, and unfortunately, I wasn't as lucky as I lost all the earnings I made from my trades on that platform. They asked for credit card information and other personal details that I wasn't willing to give, despite completing my KYC on their platform. When I asked them about withdrawing my funds, they gave me excuses that didn't make sense.

I suggest that you advise your friend to contact the customer support of the exchange immediately. If they continue to ask for account or credit card details, it's a clear sign of scamming, and your friend should avoid such exchanges at all costs.

[Unbunplease]

I think it's not about Copytrade. Just maybe the exchange decided to freeze, and then withdraw the funds that were in the account. I would like to understand how much we are talking about. And copytrading is an excuse. By the way, is the account verified or not? If the account is verified, then what difference does it make if there is copyridding or not?

[bettercrypto]

According to my understanding of the topic you made, it is unlikely or there is no guarantee that his account will be unlocked. In fact, I just read about such a strategy used by a scammer.

      It can be said if the person he is talking to is good at blackmail in my opinion. Then where will he get the 20% that is being asked of him? Is it in the total balance in the exchange? because if, for example, there is a 1btc balance entered, it will appear that the scammer will get 0.2btc immediately and that will be immediately deducted from 1btc, then it is not sure if it will be given. It's like a hostage being held for ransom.

[death69]

Hey, bumer about your buddy's pal getting their account put on ice. Sounds like that exchange is pulling some shady moves with their whole "verification cashola" thing. I mean, who's trying to pony up money just to unfreeze their own funds? That's like coughing up a ransom for your very own cash! But for real, it's key to suss out the exchange's claims and wrap your head around the fine print before you start making deposits or wheeling and dealing. Maybe the exchange has some fancy algorithms that sniff out copy trading and flag it as sketchy. Or maybe they're just trying to hustle some quick cash from unsuspecting traders.