Bank account suspended as a result of Bybit transaction

[7juju]

I wish Bybit could have a complaint option for vendors who transact with questionable funds.

Do you have any evidence that the vendor sent you questionable funds? You can't just go and complain that someone sent you a questionable funds. The platform will ask you for proof to show that the funds are questionable and at that time how do you go about providing the evidence?  There has to be a legal publication that such person is involved in illegal dealings with proofs that he generated money from there and because of this accounts traced with his recent transactions are frozen. But if you can't provide this, the exchange platform won't listen to your complaints.

[Y3shot]

There have been so many reports about Bybit for some time, and all these complaints about Bitcoin are not nice at all because it just seems as if the exchange is one that customers will always come across problems with.

It doesn't make sense for people to continue using an exchange with different complaints from time to time; it is high time people need to do their research to get a reputable exchange where there are not many problems and that is safe for customers to trade without having any complications.

[Princess Leah]

There have been so many reports about Bybit for some time, and all these complaints about Bitcoin are not nice at all because it just seems as if the exchange is one that customers will always come across problems with.

It doesn't make sense for people to continue using an exchange with different complaints from time to time; it is high time people need to do their research to get a reputable exchange where there are not many problems and that is safe for customers to trade without having any complications.

I believe that one or more customers that's been affected by this situation would've complained to Bybit and if they don't do anything to handle the situation it could ruin their reputation cause people in our region would begin to see that as an exchange that harbours scam vendors which is not good for their business.

 If people here in this forum especially in our board would be complaining this way, you could imagine how it would be for non forum members, they better handle the situation before it gets out of hand and ruin their business,vendors in the NGN P2P should be scrutinised before being allowed to operate on the platform.

[Marykeller]

This is a very bad happening, for people with questionable funds to begin to act as one of Bybit's peer-to-peer merchants. I don't think there's any of us who have had the idea that this kind of thing has been going on, if not now that you're bringing it up to our notice through this post.

However, let me think of it this way that Joropay is the only merchant that operates in the way of using questionable funds to buy tokens. If it is to be, Joropay is not the one involved in this, that means we Nigerians using Bybit peer to peer are in a big mess because there's no way Bybit would scrutinize every one of its peer to peer merchants one after the other to know the one that doesn't use questionable funds.

[Cryptoprincess101]

This shows how powerful banks are over one's funds. In this like these even if the cause is genuine
Innocents are still hurt.  

That is the problem with banks, they would just like to involve people that are not even part of a financial crime. If banks finds out that someone is using ''questionable funds'' as the OP called it, what they should do is to report to BYBIT to restrict such account while they perform their investigation instead of blocking other people's account. The height of unprofessionalism in banks in really alarming, this is the reason why i stopped using banks for a very long time now because their 'modus operandi' is just so tiring.

[Africolo]

OP have you heard of dirty Naira? This is similar to it.

I would've  posted about the dirty Naira which is probably the reason why the accused account was frozen. Many folks are now selling dirty Naira on Bybit. And these Naira are called dirty because one or more fraudulent activity is connected to the money.

Yeah, what they do is that they buy Bybit account of one Aboki, they go steal the money, then use the account to sell the Naira and take USDT which will be sent later to their main account.

So why do banks allowed so called dirty money to be sent out? Wouldn't it be better if the accounts linked to these dirty money are frozen and investigated ?

I know so well that accounts linked to fraudulent deposit are usually flagged debit-no-bil; this way you can't make transactions on the account unless the source of the deposit is confirmed to be legitimate.

It doesn't make sense for people to continue using an exchange with different complaints from time to time; it is high time people need to do their research to get a reputable exchange where there are not many problems and that is safe for customers to trade without having any complications.

It's normal as they're the most used P2P marketplace now unlike when we have more than 5 other exchanges now we have all the scammers in one place.

[Agbamoni]

So why do banks allowed so called dirty money to be sent out? Wouldn't it be better if the accounts linked to these dirty money are frozen and investigated ?

I know so well that accounts linked to fraudulent deposit are usually flagged debit-no-bil; this way you can't make transactions on the account unless the source of the deposit is confirmed to be legitimate.

Perhaps the thieves are sending it directly from the real owners account straight to P2P recipient. The only possible way the banks can trace it, is by tracing the money down to the person that receives it. So yeah, many P2P users are falling victims of this.

Another pattern they use, is to tell their close friends or relatives to help them receive stablecoins if they have any crypto wallet.  These days you dont need to trust anyone even if its help.

[Africolo]

Perhaps the thieves are sending it directly from the real owners account straight to P2P recipient. The only possible way the banks can trace it, is by tracing the money down to the person that receives it. So yeah, many P2P users are falling victims of this.

This is not different from the question I was asking; are the so called dirty not in the bank? Why flag the receiver accounts and not the sender? Dirty and fraudulent deposit usually get flagged

It's either the vendor in question is EFCC or CBN agent tracking and blocking crypto traders accounts or the money was reported as wrong transaction by the sender.

[Yablee0]

Alot has really gone wrong lately on bybit P2P trading platform, scammers has taking over the whole place leaving us with fear while carrying out our daily transactions. I don't think this case stated by the op is been related to any cryptocurrency related transactions indicated at the remark aspect of the transaction but I think the funds in which the buyer used in purchasing the coin is been investigated due to fraud related activities or whatever, so it obvious that luck and God's protection is also needed in our daily transactions because being careful alone can't save the situation because you never can tell were the whole saga will  pop out from.

[EluguHcman]

Since there had not been update to what prompt the rest of the users whose accounts are said to be suspended, whatever thing discussed on that in emergence of them being associated with the precised vendor should be said to be allegedly, but my own intake is that justice should be served as possible so that those who are affected at the cause of haven deal with a questionable traders funds in the platform can restore their normalcy.

I am also not satisfied to jump into conclusion that the accusations of that vendor is true. Let us also be reminded that Bybit is a Centralized platform that is being regulated by the authorities and we can all agree that we hails Decentralized financial networks due to its privileges that abides to individuals financial freedoms where our rights and Privacies is observed afterwards the authorities has not been so transparent to the public.

With how much the authorities has also tend to have dominion over individuals funds and privacies, I fear if that accused vendor would be guilty to that accusation if not as the usual way of the governments being self centered about individuals funds and Privacies.

[Ojinga]

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

Very soon, bybit will lose a lot of customers and it might be too late for them to take so much actions by then or they would have to spend more to gain back the clients they already lost.
I understand that, bybit already have our all the warnings and cautions needed for every trade, but at some point, I do feel that, they are not doing enough for the safety of their traders because there have been time where there were several complains about their p2p traders and it seems they did absolutely nothing nothing about it and now, their exchange is becoming very vulnerable for anyone to buy tokens with black money there by affecting the accounts of their customers which is a wrong note for them.

[Nwada001]

You have a good point and examples but kidnappers in Nigeria are very wise, they prefer the money to be in cash. But some people can put a tracker inside the money so that it can be used to track the kidnappers. Most people prefer not to involve the police but give the kidnappers the money they want after negotiations.

Haven't you read or heard about how kidnappers now use other means to accept bank transfers from victims? They go as far as using a POS agent's account to receive money in exchange for cash, and the agent might not know where the money comes from. At the end, they turn out to be a victim and the suspect escapes, just like some major car dealers, where the kidnappers can pretend to try to have a car dealer receive ransom money directly into their account, cook up stories later, and make the person send money to another account or, better still, use it to buy an affordable car at that range and later sell it off to another. Those dudes don't just request cash only.

[Roseline492]

On this case whom do we say they are the cause of this suspension?, however if those that has this issues of suspension got it at the moment they transacted with the name Joropay could possibly be that he might be the one reporting those people bank account because there was a time I heard people saying that there are people in bybit who are only there as a spy to no those who are using the P2P and also report them, so this might also be the case of this because having a big amount to buy tokens doesn't have any limited and besides there are people who buys with a lot of money, exchange can only be unsatisfied with there users funds when the money came from an unknown source.

[Rockson1]

There have been so many reports about Bybit for some time, and all these complaints about Bitcoin are not nice at all because it just seems as if the exchange is one that customers will always come across problems with.

It doesn't make sense for people to continue using an exchange with different complaints from time to time; it is high time people need to do their research to get a reputable exchange where there are not many problems and that is safe for customers to trade without having any complications.

Good point, e be like say people go try to the do their home work before dem use any exchange, the Mata don the too much before Matta fir pass garri, people no go the go through dis kind thing all the time na, the complain don pass the good work wet that bybit the do and I believe say this exchange go don the aware of this mata, recently I no think e get any month wet don pass wet we no the hear or read things wet relate to some rubbish wey the happen for that exchange we be bybit, make people begin reason alternative before e dey too late because me I no come understand wetin the sup like this.

[Sammye3]

Comrades, information just reaching me now that bank accounts of Bybit traders are being blocked because of a p2p trader by the name Joropay, who likely buys tokens with questionable funds via the bybit p2p platform. A few account holders have complained of the same issue today, and from the looks, the blockage of accounts occurred today.

An account holder whose microfinance bank account got suspended today said he did a transaction last with the above-mentioned name before he had such an experience, and has not done any p2p transaction for the past few days. This invariably means that the Bybit trader used funds that seem questionable in dealing with vendors on the Bybit platform.

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

This is a very educative thread that would really help a lot of people avoid being scammed or having their accounts suspended without any fault.
I think if there was a pop-up notification before engaging in a p2p transaction about the danger of transferring funds to such trader, it would give people the consciousness of having a rethink before placing such transaction.

Because innocent people are falling victim for this unforseen circumstances which is undoubtedly not their fault as they didn't have the first hand knowledge that the funds could be questionable per say.

[Davidvictorson]

Comrades, information just reaching me now that bank accounts of Bybit traders are being blocked because of a p2p trader by the name Joropay, who likely buys tokens with questionable funds via the bybit p2p platform. A few account holders have complained of the same issue today, and from the looks, the blockage of accounts occurred today.

Very terrible if this is true. Some people are just very heartless. I wonder what will happen then to the people whose accounts where blocked. My thinking now is that the banks will involve EFCC and once it gets to EFCC that is going to be a very long case.

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

How about through email: support@bybit.com? I have never had any reason to send an email to them so I will not know how quick they are to respond and take action.

[Odohu]

Comrades, information just reaching me now that bank accounts of Bybit traders are being blocked because of a p2p trader by the name Joropay, who likely buys tokens with questionable funds via the bybit p2p platform. A few account holders have complained of the same issue today, and from the looks, the blockage of accounts occurred today.

An account holder whose microfinance bank account got suspended today said he did a transaction last with the above-mentioned name before he had such an experience, and has not done any p2p transaction for the past few days. This invariably means that the Bybit trader used funds that seem questionable in dealing with vendors on the Bybit platform.

This post mean that the merchant Joropay is the problem right? They can go after him rather than punish anyone that does business with him. The authorities have his account and biodata, if he is involved in illegal activities, then authorities know how to get him and not punish people who do business with him. I don't think this case has anything to do with crackdown on Bybit users.

[Lida93]

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

I don't know much about bybit but through the countless topics raised on behalf on the p2p scams on bybit I know that there are many scammers on the bybit exchange. If anybody is a victim of this incident they all have to complain to the customer service. If they provide solid informations and proof, the issues will be resolved, even though it may take a while.

But don't we think that bybit ain't do enough to clean this scammers and fraudster off their space hence why this guy's feel very comfortable perpetrating all forms of financial crimes using bybit. I could remember when binance and kucoin we still active in Nigeria we didn't had this sporadic complains from P2P  traders about how merchants in bybit are  doing. They have being ignoring quite many abnormalities happening under their nose and it's not a good review on them.

[Orpichukwu]

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

Maybe you don't just know, but even after you have conducted a trade with a vendor in Bybit, you can still go back to your order history, click on 'report user', and you will see options which you can select, and 'frozen account' is among them there. It's not as if Bybit will help unfreeze the user's bank account, but with multiple reports on a particular user, they can be able to take action and at least prevent him or her from conducting future transactions with that Bybit profile.

[WhoYouCantKill]

This seem like chain reaction is what is happening, when one P2P trader is shifting funds that is questionable, while the other trading with them is risking getting flaged by the bank.
This is my brief opinion: there should be obvious option for complaint and reporting added to Bybit to enable vendors flag suspicious traders. If not, those user who are said to be innocent will continue to be caught between the crossfire. Unless this is done, it will remain more secured to be selective on who you should deal with on P2P and hold tight to well rated and consistent traders