BYBIT SHADY

[lotfiuser]

On July 28th, I withdrew 132.6596 USDT from my Bitpapa account. They asked for my relation to Bitpapa tron address and job details, which I provided. However, since then, my account has been frozen—no withdrawals, no trades. I have a coin that keeps dropping in price, and I've already lost around 5,000 USDT because I can't take any action. I even requested that they delete the coin from my account just to regain access to trading.

Is there anything I can do to recover my lost money or file a complaint? My account is still locked, and I'm unable to trade.

WHATS IF SOME IS TRADING FUTURE ? HIS MONEY WILL BE BURNED

https://i.imgur.com/hovqr8l.jpeg

[Oshosondy]

I am using Bybit but no complain from me since I have been using the exchange. But I still know that Bybit is a centralized exchange and I take it like that by not using it for too much money. Any coin that I believe is tainted are not sent there.

Is there anything I can do to recover my lost money or file a complaint? My account is still locked, and I'm unable to trade.

If you know that you did not nothing wrong contact your lawyer about it if they do not give you your coins after some days or weeks.

[OmegaStarScream]

There is really nothing much you can do. You just have to wait for their reply.

If I had to guess, I would say the problem is indeed coming from Bitpapa's side because of this:

https://www.chainalysis.com/blog/ofac-sanctions-russia-blockchain-companies-netex24-bitpapa/

The exchange also seems to be faking reviews according to Trustpilot:

https://www.trustpilot.com/review/bitpapa.com

So I wouldn't be surprised if there is something else going on.

[GreatArkansas]

Why not comply with what Bybit is asking of you?

Let's be clear, before your account is locked, you have an open trade position and you can't close it? This is my first time hearing that frozen accounts don't auto-close the trade positions or you can close it by yourself.

They also have good customer support that can help you.
I have been a user of Bybit for years, and so far, it's all good.

[Potato Chips]

Typical KYC/AML scenario but it doesn't necessarily mean you've lost the money. Give it some more time though I do admit the whole process can be one hell of a nightmare.

Aside from waiting, my other suggestion would be to have your case escalated through their other official handles as well esp if it has dragged on for weeks. I know on their discord server this is possible though make sure you're talking to an actual staff -- always check the roles and don't give out sensitive information. at best, they will only ask for your case ID.

[BitMaxz]

Bybit is legit tested them with no problem there might be another reason why they keep locking your account for now the only reason we can see is the OFAC sanctions posted above.

Why not try to contact them on social media accounts to speed up the process of your case?

You can try to contact them on https://www.reddit.com/r/Bybit/ or discord channel https://discord.com/invite/CeGhhS95fQ
And follow up your case and ask them why your account still locked.

[tabas]

Bybit is a good one based on my experience and you should be prepared to kyc there based on the withdrawal message that you have, the appeal is in progress and it's waiting for the answer that they've asked you about the relation of your fund from your bitpapa account. I feel bad as well if my situation is like that when the value of my assets goes down when I can't withdraw but it's a case of KYC that you have to comply. Well, as for USDT it can trace whom the sender was by having a connection of exchanges to Tether so, there's something shady from the roots of your funds. We can only hope that they expedite the process but you also have to do your part of complying and giving more clear reasons about your funds.

[Darker45]

Reviews on accounts and transactions, manual reviews in particular, take time. It's just a couple of weeks that passed. Your case is probably still in the queue. This isn't just basic and automated KYC that you're undergoing. This is advanced KYC that could only be evaluated manually. Add to it the fact that almost all exchanges are understaffed.

Although centralized exchanges can't be trusted, Bybit is one of those that have a better reputation. Your compliance is a must. After which, you just have to wait.

But, as always, it's unfair for centralized exchanges to suddenly require a user to undergo this and that, submit this and that, freeze withdrawals, lock functions, and so on without specifying why. But this is one of the prices to pay for using them.

[bbc.reporter]

@lotfiuser. I am a user of Bybit and I have never encountered one problem from this exchange. Also, it is very headshaking that no one in this thread has noticed the scam accusations on you and one of these accusers has called you a liar. How can we know that you are not spreading fud on Bybit and the users of Bybit, how can we also trust your words? If you say that Bybit froze your account because the exchange is scamming you, I would be very skeptical.

[lotfiuser]

im not talking about me only it was spot trade what if someone is trading future ? HE WILL LOSE HIS MONEY

[OmegaStarScream]

im not talking about me only it was spot trade what if someone is trading future ? HE WILL LOSE HIS MONEY

The way exchanges see it is that you're a "risk" whenever they detect suspicious activity like this. I doubt they care about people's orders.

As I have mentioned above, this is most likely related to the fact that BitPapa is sanctioned. And if my guess is correct, you should probably stop using the exchange alltogether, otherwise you're risking having similar issues with other CEXes.

[bbc.reporter]

im not talking about me only it was spot trade what if someone is trading future ? HE WILL LOSE HIS MONEY

If that is you argument, the only action you can do is make a request in the exchange support to cancel your trade and convert back to stablecoin while your case is being processed by the exchange. If they allow this, you are lucky hehehe. However, you cannot force them to do something for you if they speculate that you have done something suspicious.

@OmegaStarScream. I reckon someone should create a thread for the forum where there is a list of sanctioned services to avoid.

[NotATether]

Very poor handling of the situation by ByBit. If I were them I'd at least give the user an option to withdraw their other coins and liquidate their positions, instead of letting them lose money (which is what normally happens) or gain more (happens rarely).

[JeromeTash]

I have a very bad experience with Bybit in the past, so I am not surprised ----> Bybit now forcing users to carry out Facial recognition when withdrawing.

Why not comply with what Bybit is asking of you?

I think he did all that was asked of him, but those chaps just decided to go silent with no solution or internation.

[BitMaxz]

I have a very bad experience with Bybit in the past, so I am not surprised ----> Bybit now forcing users to carry out Facial recognition when withdrawing.

Never heard of that news but in my experienced, it doesn't ask for facial verification or any related except for a KYC selfie.

I searched a bit the facial recognition will only be triggered if you have a big amount maybe this is the reason why I didn't experience the facial recognition because I usually deposit a small amount and only use it for promo/discount and airdrops.

According to them, it's an extra security layer just to protect your funds from unauthorized access.

[bbc.reporter]

Very poor handling of the situation by ByBit. If I were them I'd at least give the user an option to withdraw their other coins and liquidate their positions, instead of letting them lose money (which is what normally happens) or gain more (happens rarely).

Allowing him to withdraw his stablecoins from a sanctioned service would be a very headshaking decision from the exchange heheheh. If they allow this, what would the regulators speculate they were doing? They were helping someone move his stablecoins from a sanctioned service and laundering his money through Bybit? This would certainly be a cause for the regulators to suspend Bybit's license heheheeheh.