Phemex

[Billybear185]

I recently made a short sell in Phemex. I used 1100 and made 900 using 10x leverage. Unfortunately my 2FA is messed up apparently because I couldn't transfer funds, so I had to reset my 2FA. Now I got this email...


Dear user,
 
Thank you for contacting Phemex Support Team.
 
We are sorry to hear you are experiencing issues on the 2fa. Unfortunately the documentation via photo and video is required to pass KYC.
 
In order for us to safely reset your Google 2FA, we kindly ask you to provide all of the following information:
 
Your overall account balance (meaning the total sum of the assets in the spot wallet, trade accounts, margin account, and investment account).
Commonly used IPv4 (you can Google "What's My IP" to find it).
Time and quantity of any deposit/withdrawal (Provide deposit or withdrawal transaction hash records if any. You can find this information in your email inbox).
A scan or picture of the front and back of your passport/driver's license/ID.
Please take a video by holding your ID card/passport/driver's license and speak out loudly and clearly "Today is dd/mm/yyyy, please reset 2FA for my Phemex account xxxxxx@xxxxx.com". Please make sure your face and the ID card/passport/driver's license are visually recognizable in the video.
 
Notice: In the event that your attachments exceed the maximum size of 20 MB, you may want to use a cloud-based storage service like Google Drive to share your files. In this case, please make sure to grant us access.







I realize Phemex is a bit sketchy. I've used it in the past and transferred over even larger funds, but I realize there is a risk. Does anyone have any suggestions on how to resolve this? I've though about doing what they ask, but using a fake Irish Id (my vpn was always connected to Ireland). Please help!

[JeromeTash]

Lol, they want to prove if you are the right owner to the account. Someone else could also claim that they want to reset 2FA of any random account and without such verification, A scammer can bypass 2FA and get in people's accounts. Who will you blame?

Once you signed up and deposited your funds there, you accepted to be subjected to KYC verification at any time. Nothing sketchy there.

If you want your money back, just do what they have asked you to do, and I don't think forgery is a good idea unless if of course you are saying you are from a banned country, and you were using VPN to trade there.

[albon]

I realize Phemex is a bit sketchy. I've used it in the past and transferred over even larger funds, but I realize there is a risk. Does anyone have any suggestions on how to resolve this? I've though about doing what they ask, but using a fake Irish Id (my vpn was always connected to Ireland). Please help!

If you can provide all the requirements they asked for, they can help you reset Google 2FA to ensure that you are the original account owner. If you reside in one of the restricted states and regions and use a VPN, this will undoubtedly violate Phemex's terms of use. Refer to the screenshot I provided for the specific terms.

^[SOURCE]

Also, using a fake Irish ID will not help you solve the issue or succeed in submitting the rest of the requirements, such as taking a video while holding the ID card and so on. Without a doubt, when you do this, they will close your account because using these suspicious methods will prove to them that you have actually hacked this account. You should have adhered to and complied with their rules and regulations before registering an account on their platform if you were the real account owner. Unfortunately, there are no other suggestions that will benefit you.

[Potato Chips]

Yeah, it's a pretty normal process in exchanges if you wanna reset your 2fa but loss access to OTPs. You never backed up your secret key or you lost it? if you've used google authenticator, did you login at some point? Next time, try to use an authenticator with easier and safe backup schemes like aegis.

But I can't comment on how safe your data will be on phemex. You'd need to weigh things down on which is more of value to you.

Not that I support it, I'm not sure you'd have a good chance at faking kyc documents in this case since you'd have to submit a video as well which their support will most likely check and not a software. Last I heard, deepfake tech of today may be able to fool the automated softwares but it is said, they'd have a hard time on human checks.

If a real person will do it for you, there's a risk their information has been heavily flagged in exchanges already and in CEX, kyc info is equal to ownership which they have more than you.

[BitcoinGirl.Club]

I've though about doing what they ask, but using a fake Irish Id (my vpn was always connected to Ireland). Please help!

Why would you use a fake ID, don't you think if you are caught then you will loss everything that have in the exchange, you may also be charged for faking identification. If you are honest and legal owner of the fund then I suggest you ID yourself to avoid losing the fund.

[tabas]

They simply want to verify that you are the rightful owner of that account and balance. It doesn't matter if you've been depositing on them with millions of money when they were not strict yet. Just provide them with your actual IDs and if you're going to use fake ID, you're going to make your situation even worse.

[Billybear185]

I've though about doing what they ask, but using a fake Irish Id (my vpn was always connected to Ireland). Please help!

Why would you use a fake ID, don't you think if you are caught then you will loss everything that have in the exchange, you may also be charged for faking identification. If you are honest and legal owner of the fund then I suggest you ID yourself to avoid losing the fund.

So you don't think the fact that I am going to show them a New York State license, won't get my account flagged? I mean this as a genuine question, it isn't rhetorical. Phemex is not allowed in the U.S.

[Bitcoin_Arena]

I've though about doing what they ask, but using a fake Irish Id (my vpn was always connected to Ireland). Please help!

Why would you use a fake ID, don't you think if you are caught then you will loss everything that have in the exchange, you may also be charged for faking identification. If you are honest and legal owner of the fund then I suggest you ID yourself to avoid losing the fund.

So you don't think the fact that I am going to show them a New York State license, won't get my account flagged? I mean this as a genuine question, it isn't rhetorical. Phemex is not allowed in the U.S.

Don't you see that you are the problem?
Why are you using a platform that does not want anybody from the US from registering and trading in it?

I think they are pretty much clear about this in the Terms, yet you ignored them. If you are lucky, they will just block your account and let you withdraw your balance, but the odds are against you.

[Plaguedeath]

I realize Phemex is a bit sketchy. I've used it in the past and transferred over even larger funds, but I realize there is a risk. Does anyone have any suggestions on how to resolve this? I've though about doing what they ask, but using a fake Irish Id (my vpn was always connected to Ireland). Please help!

Do you think after you completed KYC verification and didn't transfer larger than in the past will make the exchange not asking to submit KYC in the future? there's no such thing. Any centralized exchanges can ask you to re-submit or ask more KYC at any time, that's why you must be ready if you're using centralized exchanges.

Take this as a lesson, next time just use P2P in kycnot.me