Lizex.io – Your Gateway to Safe and Fast Swaps

[Lizex.io]

Lizex.io – Your Gateway to Safe and Fast Swaps

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Escrow deposit 4,997.4151 USDT – AB de Royse777

[God Of Thunder]

Welcome to the forum Lizex.io

Good to see another exchange came to the best forum. The UI looks good. However, I was interested in checking if there is any AML or KYC-related information on the website. But I didn't find anything except for this one from the FAQ page "No, KYC verification is not mandatory. We value user privacy and do not request personal data for standard transactions.". This statement actually reserves the right for the exchange to request a KYC if the transaction is not standard. Now the customer needs to know which transaction is not standard.

I tried to reach the support using the live chat. I have been there for nearly 10 minutes after knocking them on live chat, but no one responded, even though the website says the support team covers 24/7.

Also, do you plan to stick with the forum and run some kind of promotional campaigns? Judging from your annoucement thread and the copper membership, I assume either you know about the forum well, or you are already in contact with a campaign manager. If you are not in contact with a manager, please expect a private message from me. But if you are already in contact with someone, please ignore my message.

[un_rank]

...However, I was interested in checking if there is any AML or KYC-related information on the website. But I didn't find anything except for this one from the FAQ page "No, KYC verification is not mandatory.

They have a dedicated page for that here - https://lizex.io/en/policy

It is good that in most cases they claim they will return the amount to the sending address and not withhold it entirely.

- Jay -

[examplens]

...However, I was interested in checking if there is any AML or KYC-related information on the website. But I didn't find anything except for this one from the FAQ page "No, KYC verification is not mandatory.

They have a dedicated page for that here - https://lizex.io/en/policy

It is good that in most cases they claim they will return the amount to the sending address and not withhold it entirely.

- Jay -

I see that Whitebit is listed among their partners, and they are the most frequent liquidity partner of instant exchangers. If Lizex is an intermediary between the user and Whitebit, this means that there are great chances for coin retention and KYC requirements.
Maybe Lizex himself won't ask for any verification, but their partner might. (Whitebit does not have a great reputation when it comes to unfounded freezing of funds.)

[hugeblack]

If Lizex is an intermediary between the user and Whitebit, this means that there are great chances for coin retention and KYC requirements.
Maybe Lizex himself won't ask for any verification, but their partner might. (Whitebit does not have a great reputation when it comes to unfounded freezing of funds.)

According to this, they use an intermediary wallet to receive the transaction before sending it to their partners, In this case, they may avoid any claims from their partners.

If a user refuses to provide requested information during an AML/KYC review, Lizex.io may suspend or cancel the transaction. In most cases, funds will be returned to the original sending address, except where prevented by legal, technical, or compliance restrictions.

@OP Since you will be responding to official authorities^[1], can you provide your registration details?


[1]

Any personal or transactional data collected during AML/KYC procedures will be processed securely and disclosed only when required by law or risk management obligations

[Trêvoid]

Hi,

At the moment, your service appears to be operating anonymously in Seychelles, without a verified business registration,

Since you operate anonymously, how come might ask AML/KYC review?



I kindly ask you to provide your business registration certificate and details.

Further, for transparency, customers should know which company will receive their data if KYC is required.

Whitebit? Binance?

[julerz12]

Welcome to the forum Lizex team!
Cool looking site (could use a dark mode though).
I see that you guys ran a $300 giveaway in X (Twitter), any chance of bringing such raffles/contests here in the forum? I might help in bringing more attention to your platform.
Your Reddit page seems inactive and could use a little love.  I suggest creating an entire subreddit instead of a Reddit profile for this exchange.

[Lizex.io]

Hi,

At the moment, your service appears to be operating anonymously in Seychelles, without a verified business registration,

Since you operate anonymously, how come might ask AML/KYC review?



I kindly ask you to provide your business registration certificate and details.

Further, for transparency, customers should know which company will receive their data if KYC is required.

Whitebit? Binance?

Hi,
We use an intermediary address to verify deposits and to ensure a secure exchange process for the user.
We only request KYC if funds are frozen by our liquidity provider (such as an exchange). However, our processes are designed to minimize the likelihood of such situations to near zero. In practice, we do not request users’ personal data.
To provide liquidity, we cooperate with WhiteBIT and several other platforms, selecting the most favorable rates for our users.
In addition, we maintain our own reserves of tokens that may potentially be subject to blocking risks. Such assets are identified in advance and are taken into account in our operations.
Our primary goal is to provide users with a secure and reliable service while delivering the best possible customer experience.

[hugeblack]

We only request KYC if funds are frozen by our liquidity provider (such as an exchange). However, our processes are designed to minimize the likelihood of such situations to near zero. In practice, we do not request users’ personal data.

Since it's not zero, what legal entity receives customer data, verifies identity, cooperates with authorities, or are you not a registered company?
The rule is simple: Either you are registered and request user data, or there is a refund without requesting any KYC.

[Lizex.io]

We only request KYC if funds are frozen by our liquidity provider (such as an exchange). However, our processes are designed to minimize the likelihood of such situations to near zero. In practice, we do not request users’ personal data.

Since it's not zero, what legal entity receives customer data, verifies identity, cooperates with authorities, or are you not a registered company?
The rule is simple: Either you are registered and request user data, or there is a refund without requesting any KYC.

We provide anonymous cryptocurrency exchange services and do not require KYC for standard transactions, except in cases where it is required by our liquidity provider. The service team also remains anonymous to ensure a high level of user privacy. We value privacy as a fundamental principle of our project.

[Trêvoid]

We only request KYC if funds are frozen by our liquidity provider (such as an exchange). However, our processes are designed to minimize the likelihood of such situations to near zero. In practice, we do not request users’ personal data.

Since it's not zero, what legal entity receives customer data, verifies identity, cooperates with authorities, or are you not a registered company?
The rule is simple: Either you are registered and request user data, or there is a refund without requesting any KYC.

We provide anonymous cryptocurrency exchange services and do not require KYC for standard transactions, except in cases where it is required by our liquidity provider. The service team also remains anonymous to ensure a high level of user privacy. We value privacy as a fundamental principle of our project.

If you operate as an anonymous crypto exchange, you cannot require KYC under any circumstances.

If you do require KYC, you must provide your registered company details.

Easy.

[logfiles]

We provide anonymous cryptocurrency exchange services and do not require KYC for standard transactions, except in cases where it is required by our liquidity provider. The service team also remains anonymous to ensure a high level of user privacy. We value privacy as a fundamental principle of our project.

There is no In-between mate. Either you are an anonymous no KYC exchange or one that will ask for KYC verification at any time, and I suggest you don't front the no KYC narrative. Certain users are going to use your service because they expect no KYC verification and then when you free their funds and ask them for verification, a dispute will arise, and you will be labelled as a scam. I have seen this kind of thing play out before.

[AB de Royse777]

Update
Lizex.io deposited 4,997.4151 USDT as a form of escrow. Read details

[examplens]

We provide anonymous cryptocurrency exchange services and do not require KYC for standard transactions, except in cases where it is required by our liquidity provider. The service team also remains anonymous to ensure a high level of user privacy. We value privacy as a fundamental principle of our project.

Now that you have escrowed funds as a type of security, you would have to define the terms. DaveF already mentioned some
I'm curious, will the user be able to request a refund from escrow if they are required to pass KYC? It doesn't matter whether you or the liquidity provider, user initiated the order on the Lizex.io page.

Update
Lizex.io deposited 4,997.4151 USDT as a form of escrow. Read details

[LoyceV]

Lizex.io deposited 4,997.4151 USDT as a form of escrow.

Why so many decimals? At first glance, this looks like 5 million while in fact it's just 5k.

We provide anonymous cryptocurrency exchange services and do not require KYC for standard transactions, except in cases where it is required by our liquidity provider. The service team also remains anonymous

So the user isn't anonymous but you are. You're hiding your identity while selectively collecting KYC information as you please. You can't have both: you can either be anonymous and NEVER ask for KYC, or you can go full compliant, identify who you yourself are, and collect all the data you can think of.

While I'm at it, care to explain why:

• The Trustpilot rating in your screenshot is 4.6/5 instead of 4.2?
• Your screenshot from weeks ago shows the exact same number of visits "today": 3643+ under "Today's statistics"
• Your screenshot from weeks ago shows the exact same number of Transactions carried out 864+ under "Today's statistics"
• Your screenshot from weeks ago shows the exact same number of Active Users: 615 under "Today's statistics"

[Lizex.io]

Lizex.io deposited 4,997.4151 USDT as a form of escrow.

Why so many decimals? At first glance, this looks like 5 million while in fact it's just 5k.

We provide anonymous cryptocurrency exchange services and do not require KYC for standard transactions, except in cases where it is required by our liquidity provider. The service team also remains anonymous

So the user isn't anonymous but you are. You're hiding your identity while selectively collecting KYC information as you please. You can't have both: you can either be anonymous and NEVER ask for KYC, or you can go full compliant, identify who you yourself are, and collect all the data you can think of.

While I'm at it, care to explain why:

• The Trustpilot rating in your screenshot is 4.6/5 instead of 4.2?
• Your screenshot from weeks ago shows the exact same number of visits "today": 3643+ under "Today's statistics"
• Your screenshot from weeks ago shows the exact same number of Transactions carried out 864+ under "Today's statistics"
• Your screenshot from weeks ago shows the exact same number of Active Users: 615 under "Today's statistics"

1.
Thank you for your question! Trustpilot’s rating has changed from 4.6 to 4.2 because several reviews about our platform were removed by the site itself. This has nothing to do with negative reviews - we don’t have them, all the remaining reviews are positive.

2-4.
We know that the current numbers on the site can be repeated from day to day. This is due to the fact that this section is under development and we are working on a fix. Updated statistics will be displayed correctly in the near future.

[coupable]

We provide anonymous cryptocurrency exchange services and do not require KYC for standard transactions, except in cases where it is required by our liquidity provider. The service team also remains anonymous to ensure a high level of user privacy. We value privacy as a fundamental principle of our project.

Now that you have escrowed funds as a type of security, you would have to define the terms. DaveF already mentioned some

Royse777 has already answer this question in the reference thread of the insurance funds. The escrow provider himself will decide wether to make a refund or to ignore the refund request based on his own judgement with the help from community. Lizex and community both trust Royse777 judgement as long as all the disputes will be made public for the community to contribute.

I'm curious, will the user be able to request a refund from escrow if they are required to pass KYC? It doesn't matter whether you or the liquidity provider, user initiated the order on the Lizex.io page.

Not in that way exactly. The user should be able to ask for a refund from the website support. If the dispute remain unsolved, he could ask the escrow to judge.