etz-swap.com A fraudulent platform misappropriated $12,000 USD of mine.

[a3863806]

Here are the details of my exchange. I initiated an exchange of $12,000 USD with them; they claim to offer no-KYC, no-review service with their own liquidity. However, a full day has passed, and customer service has informed me that the transaction requires review and my funds have been frozen—which completely contradicts their stated terms of service.

[tabas]

First of all, follow this format:

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[b][color=black]What happened:: [/color][/b]

[b][color=black]Scammers Profile Link: [/color][/b]

[b][color=black]Reference Link: [/color][/b]
[b][color=black]Amount Scammed: [/color][/b]
[b][color=black]Payment Method: [/color][/b]
[b][color=black]Proof of Payment: [/color][/b]
[b][color=black]PM/Chat Logs: [/color][/b]
[b][color=black]Additional Notes: [/color][/b]

And how did you got into this swap? Because this is the first time that I have heard about them. We've got a lot of swaps which are more trusted in the Exchanges section.

they claim to offer no-KYC, no-review service with their own liquidity. However, a full day has passed, and customer service has informed me that the transaction requires review and my funds have been frozen—which completely contradicts their stated terms of service.

I've read the AML/KYC policy and they really have said that but I think that in most of the swaps, they are making it clear that any transaction can be subjected to compliance if they happen to see some red flag. So for this policy, they didn't indicated it and probably made it hidden just to attract users who like this rule.

[RGBTC]

Their terms are somewhat ambiguous; they only have a regular swaps clause that doesn't explain the thresholds that could trigger a confiscation:

No. ETZ-Swap does not require KYC for regular swaps. We respect user privacy and minimize unnecessary data collection.

https://etz-swap.com/faq
While they explicitly aim to minimizee user data collection, that doesn't mean such requests never happen.

My questions are:

• Did you also provide an ALGO return address? I don't see that in your swap details.
• Is it true that you performed the swap without logging in and sent the ALGO from a custodial wallet? I mean this wallet: QFWNQCRJRHLE63EGNHVE7EM45ONCWYG56IV3HVI725FPI2NHVT6UYMITXI

[a3863806]

SURE ，The exchange has not yet been completed, and a refund remains nowhere in sight.

[examplens]

However, a full day has passed, and customer service has informed me that the transaction requires review and my funds have been frozen—which completely contradicts their stated terms of service.

Ok, the transaction requires a review, but they still haven't asked you for KYC, SoF or anything similar?
Can you check the address you sent the funds to, whether it was newly created just for your order or if it was reused, as well as whether the coins you sent are still there?

No. ETZ-Swap does not require KYC for regular swaps. We respect user privacy and minimize unnecessary data collection.

https://etz-swap.com/faq
While they explicitly aim to minimizee user data collection, that doesn't mean such requests never happen.

This test showed that they collect information during the entire swap order, ETZ-Swap review

[JeromeTash]

OP I advise you to make a complaint on their page if you haven't done it yet - https://kycnot.me/service/etz-swap

Can you check the address you sent the funds to, whether it was newly created just for your order or if it was reused, as well as whether the coins you sent are still there?

I checked the address, and it seems to have been newly created just for his deposit. The funds were also moved out within 30 minutes. I wonder what kind of excuse they will come up with.

[robelneo]

OP I advise you to make a complaint on their page if you haven't done it yet - https://kycnot.me/service/etz-swap

OP, I guess, did, and because of the report, they issued a warning against this platform. The returning client should be aware of this ongoing issue before making a new swap, or better yet, go for a new and trusted one

[Zwei]

Can you check the address you sent the funds to, whether it was newly created just for your order or if it was reused, as well as whether the coins you sent are still there?

I checked the address, and it seems to have been newly created just for his deposit. The funds were also moved out within 30 minutes. I wonder what kind of excuse they will come up with.

if i checked this correctly, the 100k ALGO ended on kucoin:



so is this again one of those cases where kucoin is holding the funds for whatever reason?

[JeromeTash]

I just checked the transaction ID, and it appears the swap is no longer stuck on verification and has successfully been completed with the receiving address receiving the USDT TRC20 according to the transaction status page

Maybe @a3863806 might want to come here and confirm to us if this is indeed true. I don't want to say anything much, but with OP's recent trend of accusations that he has been creating, he is up to something.

[examplens]

I just checked the transaction ID, and it appears the swap is no longer stuck on verification and has successfully been completed with the receiving address receiving the USDT TRC20 according to the transaction status page

Maybe @a3863806 might want to come here and confirm to us if this is indeed true. I don't want to say anything much, but with OP's recent trend of accusations that he has been creating, he is up to something.

OrangeFren also confirmed that the case was resolved, without the user having to pass KYC.
Unfortunately, we probably won't get confirmation from the affected user himself, nor will we get information about what exactly happened here.

ETZ-Swap warning

One of our users was conducting a swap using ETZ-Swap yesterday and his swap is now stuck. ETA to resolve is 5 days. Contrary to initial reports no KYC has been demanded. As a standard precaution ETZ-Swap has been delisted from OrangeFren.com

I see the service is now listed again, I don't know how long ago it got relisted but I suppose the other issue was resolved?
It's like i saw the complaint somewhere (kycnot.me) but I don't see it anymore so it's hard to tell how or when it was resolved.

Yes, the issue was resolved and no KYC was required from the user