EagleSwap $80K SCAM / Froze user funds despite claiming zero freezes

[AnonChangeCom]

This was posted in another forum and sums up this thread, just thought I would share it here aswell will give you my input later on.

" I'm writing this deal dispute on behalf of an off-site anon & out of concern about
Eagleswap and their morality when it comes to their self proclaimed 'Non-KYC' and 'never freezing' swapping site https://eagleswap.net/

My client sent approx. $80K USD to his website under the impression his site doesn't freeze transactions. Ever since this has gone down there hasn't been any concrete word about the situation other than him / his support saying that 'its under investigation' and 'he can't speak about it'.
Ever since it was sent a few days ago the funds have remained in the same wallet and haven't moved.

I can privately share blockchain evidence that the funds sent to his exchange had a little to none risk score, and backup the fact that the funds are sitting still on EagleSwaps end if necessary

I would like to propose EagleSwap the following;

Either complete the swap and release the funds owed to my client, or return the funds to the original sending address. Alongside this, provide a clear explanation of the situation and a concrete timeline for resolving it.

My client sent these funds in good faith based on the claims made about the service. I'm giving EagleSwap the opportunity to resolve this fairly before taking this any further.

https://ibb.co/1Yx5rgZh
https://ibb.co/XrCVMn75
"
This is the issue with most self proclaimed " non kyc " & " we never freeze your crypto " exchanges. They use third party providers for liquidity, so they are never able to fully ensure that the funds will not be frozen. If you use a liquidity provider you should not be able to claim yourself as a non kyc exchange. You are no different to ChangeNOW and FixedFloat.

[noorman0]

Currently, I cannot access the site due to a server error. Do they also provide information regarding their liquidity before the exchange process begins? I see that they offer two exchange modes, normal and private; which one did your client choose?

Edit: Well, they were misleading from the start about "no KYC."

[Bitcoin_Arena]

It looks like we have yet another case of a swap service claiming to be a no-KYC exchange, but then they go ahead and freeze a user's funds, especially when the amount deposited is sizable.

https://ibb.co/1Yx5rgZh
https://ibb.co/XrCVMn75

Can we also have a look at the screenshots of the chat with the support as directed?

Currently, I cannot access the site due to a server error.

The site is accessible from my side.

[EagleSwap]

This was posted in another forum and sums up this thread, just thought I would share it here aswell will give you my input later on.

" I'm writing this deal dispute on behalf of an off-site anon & out of concern about
Eagleswap and their morality when it comes to their self proclaimed 'Non-KYC' and 'never freezing' swapping site https://eagleswap.net/

My client sent approx. $80K USD to his website under the impression his site doesn't freeze transactions. Ever since this has gone down there hasn't been any concrete word about the situation other than him / his support saying that 'its under investigation' and 'he can't speak about it'.
Ever since it was sent a few days ago the funds have remained in the same wallet and haven't moved.

I can privately share blockchain evidence that the funds sent to his exchange had a little to none risk score, and backup the fact that the funds are sitting still on EagleSwaps end if necessary

I would like to propose EagleSwap the following;

Either complete the swap and release the funds owed to my client, or return the funds to the original sending address. Alongside this, provide a clear explanation of the situation and a concrete timeline for resolving it.

My client sent these funds in good faith based on the claims made about the service. I'm giving EagleSwap the opportunity to resolve this fairly before taking this any further.

https://ibb.co/1Yx5rgZh
https://ibb.co/XrCVMn75
"
This is the issue with most self proclaimed " non kyc " & " we never freeze your crypto " exchanges. They use third party providers for liquidity, so they are never able to fully ensure that the funds will not be frozen. If you use a liquidity provider you should not be able to claim yourself as a non kyc exchange. You are no different to ChangeNOW and FixedFloat.

We understand why a frozen transaction raises concern, and we want to explain what happened.


Now let's address the issue properly:

This is not how we normally operate. We’ve processed over 15,000 swaps, and this is the first time we’ve frozen one. That’s about 0.0067% of all swaps. Our providers don’t run KYC on our users, nor hold funds over risk scores. Normal swaps are simply processed. When a swap is flagged by an AML check, we refund it to the sender. A freeze that happens once in 15,000 swaps is a deliberate decision for an exceptional case, not a routine practice. Here, the funds were directly connected to a reported theft.

The swap in question (~$80,000) was routed through us directly from the wallet involved in the reported theft, shortly after it happened. Within that same window, our liquidity provider received an urgent request from a trusted blockchain investigation agency to freeze the funds for investigation. Blockchain risk databases such as AMLBot often take days to update after confirmed incident, which explains the funds being detected as "low risk".

To be clear about a few things:

• The funds have not been used or kept by us. They remain untouched in our liquidity provider’s wallet until the case is resolved.

• We have not asked for any identity documents. This freeze is not a way to pressure anyone into KYC.

• Orders are not frozen for fun. Holding a disputed transaction creates work and risk for us. But any service that wants to keep operating has to follow the law, and knowingly processing funds linked to a reported theft is not something a legitimate business can do.

What happens next: The case is now with law enforcement agencies, and the funds will stay frozen until they reach a decision. We don’t control that timeline, and we know waiting is frustrating. We’ll post an update here as soon as the case is resolved.

— EagleSwap Team

[Arhad]

As @Bitcoin_Arena pointed out, this is a classic case of a supposedly no-KYC exchange freezing a large transaction and demanding KYC. For most exchanges, "no KYC" is just window dressing—a marketing gimmick. Before making an exchange, every user should check the service's Terms of Service and KYC/AML policies to avoid surprises, though even that is no guarantee of an honest exchange.

My client sent approx. $80K USD to his website under the impression his site doesn't freeze transactions. Ever since this has gone down there hasn't been any concrete word about the situation other than him / his support saying that 'its under investigation' and 'he can't speak about it'.
Ever since it was sent a few days ago the funds have remained in the same wallet and haven't moved.

I can privately share blockchain evidence that the funds sent to his exchange had a little to none risk score, and backup the fact that the funds are sitting still on EagleSwaps end if necessary

You could have posted all the evidence publicly instead of sharing it privately with a select few. You're accusing another exchange of being a scam, but the only evidence you’ve provided is a screenshot of a conversation that’s hard to make sense of.

I'm not defending EagleSwap, but right now, it looks like one no-KYC exchange (AnonChangeCom), has simply made an unsupported complaint against a competitor (EagleSwap).

[Trêvoid]

This was posted in another forum and sums up this thread, just thought I would share it here aswell will give you my input later on.

" I'm writing this deal dispute on behalf of an off-site anon & out of concern about
Eagleswap and their morality when it comes to their self proclaimed 'Non-KYC' and 'never freezing' swapping site https://eagleswap.net/

My client sent approx. $80K USD to his website under the impression his site doesn't freeze transactions. Ever since this has gone down there hasn't been any concrete word about the situation other than him / his support saying that 'its under investigation' and 'he can't speak about it'.
Ever since it was sent a few days ago the funds have remained in the same wallet and haven't moved.

I can privately share blockchain evidence that the funds sent to his exchange had a little to none risk score, and backup the fact that the funds are sitting still on EagleSwaps end if necessary

I would like to propose EagleSwap the following;

Either complete the swap and release the funds owed to my client, or return the funds to the original sending address. Alongside this, provide a clear explanation of the situation and a concrete timeline for resolving it.

My client sent these funds in good faith based on the claims made about the service. I'm giving EagleSwap the opportunity to resolve this fairly before taking this any further.

https://ibb.co/1Yx5rgZh
https://ibb.co/XrCVMn75
"
This is the issue with most self proclaimed " non kyc " & " we never freeze your crypto " exchanges. They use third party providers for liquidity, so they are never able to fully ensure that the funds will not be frozen. If you use a liquidity provider you should not be able to claim yourself as a non kyc exchange. You are no different to ChangeNOW and FixedFloat.

We understand why a frozen transaction raises concern, and we want to explain what happened.


Now let's address the issue properly:

This is not how we normally operate. We’ve processed over 15,000 swaps, and this is the first time we’ve frozen one. That’s about 0.0067% of all swaps. Our providers don’t run KYC on our users, nor hold funds over risk scores. Normal swaps are simply processed. When a swap is flagged by an AML check, we refund it to the sender. A freeze that happens once in 15,000 swaps is a deliberate decision for an exceptional case, not a routine practice. Here, the funds were directly connected to a reported theft.

The swap in question (~$80,000) was routed through us directly from the wallet involved in the reported theft, shortly after it happened. Within that same window, our liquidity provider received an urgent request from a trusted blockchain investigation agency to freeze the funds for investigation. Blockchain risk databases such as AMLBot often take days to update after confirmed incident, which explains the funds being detected as "low risk".

To be clear about a few things:

• The funds have not been used or kept by us. They remain untouched in our liquidity provider’s wallet until the case is resolved.

• We have not asked for any identity documents. This freeze is not a way to pressure anyone into KYC.

• Orders are not frozen for fun. Holding a disputed transaction creates work and risk for us. But any service that wants to keep operating has to follow the law, and knowingly processing funds linked to a reported theft is not something a legitimate business can do.

What happens next: The case is now with law enforcement agencies, and the funds will stay frozen until they reach a decision. We don’t control that timeline, and we know waiting is frustrating. We’ll post an update here as soon as the case is resolved.

— EagleSwap Team

What happens if the 3rd party says: "Hey, the coins you sent us to exchange are dirty so we are blocking them. Please ask your customer to send their documents and proof of funds"?

TryNinja predicted this exact scenario on day one, and EagleSwap gave a written guarantee that is now broken.

Our providers don’t run KYC on our users, nor hold funds over risk scores.

? ? ?  Provider is literally holding the funds now.


1. "We never freeze" until you do.

Your own marketing says funds are never frozen. Now you admit you froze $80K. You don't get to claim "0.0067% of swaps" as a defense the percentage is irrelevant. Your selling point was an absolute guarantee, and it was false. One broken guarantee is enough.

2. You claim "No KYC" but you don't control your own pipeline.

You just admitted the freeze came from YOUR liquidity provider following an AML request. So the truth is: you have no idea whether any swap will be frozen, because the decision isn't yours. That is the exact definition of a false "no KYC / never freeze" claim. You are marketing guarantees you cannot deliver same business model as ChangeNOW and FixedFloat, just smaller.

3. Convenient double standard on custody.

When it's time to say "the funds are safe with us," you present yourselves as the custodian. When it's time to explain a freeze, suddenly it's "our liquidity provider's wallet, we don't control it." You can't hold both positions. Which entity actually holds the user's $80K right now? Name the provider or stop hiding behind them.

4. Zero verifiable evidence provided.

- No law enforcement case number
- No ticket/reference the user can verify
- No proof of any "reported theft"
- No proof the "investigation agency" even exists
- No documentation of the claim that the funds came "directly from the wallet involved in a reported theft"

The case is now with law enforcement agencies, and the funds will stay frozen until they reach a decision. We don’t control that timeline.

is the exact script every freezing exchange uses including the ones that end up keeping the funds. If this is legitimate, produce something verifiable or a timeline. "We'll update when it's resolved" is not a timeline.

5. "15,000 swaps processed" is an unverifiable marketing number.

Newbie account, brand new to the forum, first public dispute, and we're supposed to take your internal statistics on faith. No independent proof any of that happened.

6. The funds sitting still is not a virtue.

Untouched funds in your provider's wallet doesn't mean they'll be returned. It means they haven't been seized YET, or that releasing them would prove you could have done so all along.

The bar here is simple and reasonable:

- Complete the swap, OR
- Return the funds to the sending address, OR
- Provide verifiable evidence: case number, the agency involved, the legal basis, and a written commitment to return funds if the allegation doesn't hold

Until one of those happens, the "non-KYC, never-freeze" branding is demonstrably false advertising, and users should treat this service as a service that freezes large deposits and provides no recourse.

https://kycnone.com/threads/eagleswap-net-no-kyc-claim-exposed-80k-frozen.78/

[AnonChangeCom]

This was posted in another forum and sums up this thread, just thought I would share it here aswell will give you my input later on.

" I'm writing this deal dispute on behalf of an off-site anon & out of concern about
Eagleswap and their morality when it comes to their self proclaimed 'Non-KYC' and 'never freezing' swapping site https://eagleswap.net/

My client sent approx. $80K USD to his website under the impression his site doesn't freeze transactions. Ever since this has gone down there hasn't been any concrete word about the situation other than him / his support saying that 'its under investigation' and 'he can't speak about it'.
Ever since it was sent a few days ago the funds have remained in the same wallet and haven't moved.

I can privately share blockchain evidence that the funds sent to his exchange had a little to none risk score, and backup the fact that the funds are sitting still on EagleSwaps end if necessary

I would like to propose EagleSwap the following;

Either complete the swap and release the funds owed to my client, or return the funds to the original sending address. Alongside this, provide a clear explanation of the situation and a concrete timeline for resolving it.

My client sent these funds in good faith based on the claims made about the service. I'm giving EagleSwap the opportunity to resolve this fairly before taking this any further.

https://ibb.co/1Yx5rgZh
https://ibb.co/XrCVMn75
"
This is the issue with most self proclaimed " non kyc " & " we never freeze your crypto " exchanges. They use third party providers for liquidity, so they are never able to fully ensure that the funds will not be frozen. If you use a liquidity provider you should not be able to claim yourself as a non kyc exchange. You are no different to ChangeNOW and FixedFloat.

We understand why a frozen transaction raises concern, and we want to explain what happened.


Now let's address the issue properly:

This is not how we normally operate. We’ve processed over 15,000 swaps, and this is the first time we’ve frozen one. That’s about 0.0067% of all swaps. Our providers don’t run KYC on our users, nor hold funds over risk scores. Normal swaps are simply processed. When a swap is flagged by an AML check, we refund it to the sender. A freeze that happens once in 15,000 swaps is a deliberate decision for an exceptional case, not a routine practice. Here, the funds were directly connected to a reported theft.

The swap in question (~$80,000) was routed through us directly from the wallet involved in the reported theft, shortly after it happened. Within that same window, our liquidity provider received an urgent request from a trusted blockchain investigation agency to freeze the funds for investigation. Blockchain risk databases such as AMLBot often take days to update after confirmed incident, which explains the funds being detected as "low risk".

To be clear about a few things:

• The funds have not been used or kept by us. They remain untouched in our liquidity provider’s wallet until the case is resolved.

• We have not asked for any identity documents. This freeze is not a way to pressure anyone into KYC.

• Orders are not frozen for fun. Holding a disputed transaction creates work and risk for us. But any service that wants to keep operating has to follow the law, and knowingly processing funds linked to a reported theft is not something a legitimate business can do.

What happens next: The case is now with law enforcement agencies, and the funds will stay frozen until they reach a decision. We don’t control that timeline, and we know waiting is frustrating. We’ll post an update here as soon as the case is resolved.

— EagleSwap Team

What happens if the 3rd party says: "Hey, the coins you sent us to exchange are dirty so we are blocking them. Please ask your customer to send their documents and proof of funds"?

TryNinja predicted this exact scenario on day one, and EagleSwap gave a written guarantee that is now broken.

Our providers don’t run KYC on our users, nor hold funds over risk scores.

? ? ?  Provider is literally holding the funds now.


1. "We never freeze" until you do.

Your own marketing says funds are never frozen. Now you admit you froze $80K. You don't get to claim "0.0067% of swaps" as a defense the percentage is irrelevant. Your selling point was an absolute guarantee, and it was false. One broken guarantee is enough.

2. You claim "No KYC" but you don't control your own pipeline.

You just admitted the freeze came from YOUR liquidity provider following an AML request. So the truth is: you have no idea whether any swap will be frozen, because the decision isn't yours. That is the exact definition of a false "no KYC / never freeze" claim. You are marketing guarantees you cannot deliver same business model as ChangeNOW and FixedFloat, just smaller.

3. Convenient double standard on custody.

When it's time to say "the funds are safe with us," you present yourselves as the custodian. When it's time to explain a freeze, suddenly it's "our liquidity provider's wallet, we don't control it." You can't hold both positions. Which entity actually holds the user's $80K right now? Name the provider or stop hiding behind them.

4. Zero verifiable evidence provided.

- No law enforcement case number
- No ticket/reference the user can verify
- No proof of any "reported theft"
- No proof the "investigation agency" even exists
- No documentation of the claim that the funds came "directly from the wallet involved in a reported theft"

The case is now with law enforcement agencies, and the funds will stay frozen until they reach a decision. We don’t control that timeline.

is the exact script every freezing exchange uses including the ones that end up keeping the funds. If this is legitimate, produce something verifiable or a timeline. "We'll update when it's resolved" is not a timeline.

5. "15,000 swaps processed" is an unverifiable marketing number.

Newbie account, brand new to the forum, first public dispute, and we're supposed to take your internal statistics on faith. No independent proof any of that happened.

6. The funds sitting still is not a virtue.

Untouched funds in your provider's wallet doesn't mean they'll be returned. It means they haven't been seized YET, or that releasing them would prove you could have done so all along.

The bar here is simple and reasonable:

- Complete the swap, OR
- Return the funds to the sending address, OR
- Provide verifiable evidence: case number, the agency involved, the legal basis, and a written commitment to return funds if the allegation doesn't hold

Until one of those happens, the "non-KYC, never-freeze" branding is demonstrably false advertising, and users should treat this service as a service that freezes large deposits and provides no recourse.

https://kycnone.com/threads/eagleswap-net-no-kyc-claim-exposed-80k-frozen.78/

This is why you should not be able to call yourself a " non - kyc " exchange unless you control the liquidity. 99.99% of exchanges do this, it is a shame. Please verify before you make an exchange on a " non - kyc " provider that they control the liquidity otherwise you might aswell just swap at ChangeNOW or SimpleSwap it is ideally the same thing just a different UI.

[hugeblack]

This is not how we normally operate. We’ve processed over 15,000 swaps, and this is the first time we’ve frozen one. That’s about 0.0067% of all swaps. Our providers don’t run KYC on our users, nor hold funds over risk scores. Normal swaps are simply processed. When a swap is flagged by an AML check, we refund it to the sender. A freeze that happens once in 15,000 swaps is a deliberate decision for an exceptional case, not a routine practice. Here, the funds were directly connected to a reported theft.

The swap in question (~$80,000) was routed through us directly from the wallet involved in the reported theft, shortly after it happened. Within that same window, our liquidity provider received an urgent request from a trusted blockchain investigation agency to freeze the funds for investigation. Blockchain risk databases such as AMLBot often take days to update after confirmed incident, which explains the funds being detected as "low risk".

Who is the liquidity provider in this case? Without knowing them and their terms of use, nothing can be done. In this situation, EagleSwap's role would be misleading if that provider requires KYC verification.

A total of 15,000 swaps is useless if $80,000 is frozen? A 0.0067%  is meaningless here.

[AnonChangeCom]

This was posted in another forum and sums up this thread, just thought I would share it here aswell will give you my input later on.

" I'm writing this deal dispute on behalf of an off-site anon & out of concern about
Eagleswap and their morality when it comes to their self proclaimed 'Non-KYC' and 'never freezing' swapping site https://eagleswap.net/

My client sent approx. $80K USD to his website under the impression his site doesn't freeze transactions. Ever since this has gone down there hasn't been any concrete word about the situation other than him / his support saying that 'its under investigation' and 'he can't speak about it'.
Ever since it was sent a few days ago the funds have remained in the same wallet and haven't moved.

I can privately share blockchain evidence that the funds sent to his exchange had a little to none risk score, and backup the fact that the funds are sitting still on EagleSwaps end if necessary

I would like to propose EagleSwap the following;

Either complete the swap and release the funds owed to my client, or return the funds to the original sending address. Alongside this, provide a clear explanation of the situation and a concrete timeline for resolving it.

My client sent these funds in good faith based on the claims made about the service. I'm giving EagleSwap the opportunity to resolve this fairly before taking this any further.

https://ibb.co/1Yx5rgZh
https://ibb.co/XrCVMn75
"
This is the issue with most self proclaimed " non kyc " & " we never freeze your crypto " exchanges. They use third party providers for liquidity, so they are never able to fully ensure that the funds will not be frozen. If you use a liquidity provider you should not be able to claim yourself as a non kyc exchange. You are no different to ChangeNOW and FixedFloat.

We understand why a frozen transaction raises concern, and we want to explain what happened.


Now let's address the issue properly:

This is not how we normally operate. We’ve processed over 15,000 swaps, and this is the first time we’ve frozen one. That’s about 0.0067% of all swaps. Our providers don’t run KYC on our users, nor hold funds over risk scores. Normal swaps are simply processed. When a swap is flagged by an AML check, we refund it to the sender. A freeze that happens once in 15,000 swaps is a deliberate decision for an exceptional case, not a routine practice. Here, the funds were directly connected to a reported theft.

The swap in question (~$80,000) was routed through us directly from the wallet involved in the reported theft, shortly after it happened. Within that same window, our liquidity provider received an urgent request from a trusted blockchain investigation agency to freeze the funds for investigation. Blockchain risk databases such as AMLBot often take days to update after confirmed incident, which explains the funds being detected as "low risk".

To be clear about a few things:

• The funds have not been used or kept by us. They remain untouched in our liquidity provider’s wallet until the case is resolved.

• We have not asked for any identity documents. This freeze is not a way to pressure anyone into KYC.

• Orders are not frozen for fun. Holding a disputed transaction creates work and risk for us. But any service that wants to keep operating has to follow the law, and knowingly processing funds linked to a reported theft is not something a legitimate business can do.

What happens next: The case is now with law enforcement agencies, and the funds will stay frozen until they reach a decision. We don’t control that timeline, and we know waiting is frustrating. We’ll post an update here as soon as the case is resolved.

— EagleSwap Team

Interesting, you guys just updated your Terms of Use October 19, 2026. After the incident took place. You added this part:

5. No KYC and screening
EagleSwap does not require an account or identity verification for a public swap. We will never ask for your name, government ID, photograph, proof of address, source-of-funds documents, source-of- wealth documents, seed phrase, or private key.

Execution providers automatically screen wallet addresses and transactions for sanctions, fraud, and blockchain risk. This screening does not require personal documents. If your deposit fails an AML check, it will be refunded unless it is frozen as described below.

EagleSwap never holds customer funds. However, an execution provider may freeze a deposit, swap output, or refund in two cases:

a government body, court, law enforcement agency, or recognized blockchain-investigation team asks for it to be blocked; or
the law requires it.
Frozen assets are not swapped or refunded while the freeze is in place. They may later be released, returned to their rightful owner, or handed over to the authorities. EagleSwap cannot release a freeze or speed it up.

A screening decision does not by itself accuse you of unlawful conduct. EagleSwap cannot override an execution provider's screening result or freeze.

[EagleSwap]

Interesting, you guys just updated your Terms of Use October 19, 2026. After the incident took place. You added this part:

5. No KYC and screening
EagleSwap does not require an account or identity verification for a public swap. We will never ask for your name, government ID, photograph, proof of address, source-of-funds documents, source-of- wealth documents, seed phrase, or private key.

Execution providers automatically screen wallet addresses and transactions for sanctions, fraud, and blockchain risk. This screening does not require personal documents. If your deposit fails an AML check, it will be refunded unless it is frozen as described below.

EagleSwap never holds customer funds. However, an execution provider may freeze a deposit, swap output, or refund in two cases:

a government body, court, law enforcement agency, or recognized blockchain-investigation team asks for it to be blocked; or
the law requires it.
Frozen assets are not swapped or refunded while the freeze is in place. They may later be released, returned to their rightful owner, or handed over to the authorities. EagleSwap cannot release a freeze or speed it up.

A screening decision does not by itself accuse you of unlawful conduct. EagleSwap cannot override an execution provider's screening result or freeze.

This is purely to avoid these cases from happening again.

[Bitcoin_Arena]

>>snip<<

You do realize that when the "investigations" are taking place, there is a 99% chance they are going to ask for KYC verification, right? Where does this leave your no KYC claim then? I am totally against theft of funds or any other illegal activities, but when an exchange makes anonymity or no-KYC their selling point, then they better assure their clients that 100% of the time, there will be no KYC verification. Even if it's 1 case out of 15,000. That changes everything.

Anyway, we will be following this case and see the outcome, but unfortunately there is now a dent in your service.

I see you updated your terms of service just yesterday (October 19, 2026). Mind telling us what changed?