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?

[hugeblack]

This is purely to avoid these cases from happening again.

If you name your liquidity provider (provided they are well-known and legitimate) I will only add a neutral trust regarding their exchange service; otherwise, you are misleading users.

[Slow death]

It is incredible that someone could have the audacity or perhaps they simply don’t care about their own money to deposit $80,000 into a newly created site, one whose announcement thread on this forum is less than two months old. The site has no significant reputation here, and I haven’t seen any notable discussion about it anywhere else online; yet, someone still chose to deposit $80,000 all at once. It’s as if this person places no value on their money and was practically begging to be robbed no rational person would entrust such a large sum, $80,000, to a site like this. Honestly, this individual needs to educate themselves more about the dangers that exist on the internet.

Most new exchange websites can go months without having many clients and, consequently, without generating significant profit such as $80,000. When someone comes along blindly, it seems and deposits $80,000 into such a new site, it’s obvious that the site will simply steal the funds. They might offer various excuses alleging money laundering or suspicious criminal activity but they never actually provide any proof. Even if we leave negative feedback for the site’s representative on this forum, it won’t bring the $80,000 back.

The person behind the site certainly won’t return the money, knowing it’s a massive windfall the kind they might never see again. They might even decide it’s worth sacrificing their reputation here and simply abandoning the forum. After all, there will always be another unsuspecting person online who might use the site though perhaps they’ll deposit a smaller amount rather than $80,000.

This is purely to avoid these cases from happening again.

If you name your liquidity provider (provided they are well-known and legitimate) I will only add a neutral trust regarding their exchange service; otherwise, you are misleading users.

He stated that his liquidity provider received an urgent request from a trusted blockchain investigation agency to freeze the funds for the purpose of an investigation. he could provide us with proof that his liquidity provider received this urgent request from such an agency, as well as the name of that blockchain investigation agency

[EagleSwap]

Hello users and sorry for taking this long to reply.

Following up on this case with the evidence, the Terms that applied, and corrections. The points below can be checked without trusting us.

1. What our "no freeze" policy means
We worded that as an absolute guarantee without stating the exception, which we should have done. What we meant, and how we actually run:

• EagleSwap or its partners do not hold swaps over risk scores. If a deposit fails an AML check, it is refunded.
• EagleSwap or its partners don't asks for KYC over risk scores, and we have not asked anyone involved in this case for documents.

These promises were written for normal use, and for normal users it still holds: no risk-score holds, and refunds when an AML check fails. What it did not cover, and should have said, is the one case no legitimate service can promise to process: funds sent straight from a reported theft or so, where an investigation agency or LE asks for a freeze. Our Terms have always prohibited exchanging stolen or fraudulent assets. Our mistake was leaving that exception out of the marketing.

2. The Terms that applied to this swap
This swap was made under the Terms in force before October 15. We rely only on that version. Archived copy: web.archive.org/web/20260923051611/https://eagleswap.to/terms

You must not use or attempt to use the Service to: [...] launder money, finance terrorism, evade tax, or exchange stolen or fraudulent assets; [...] We may be unable to explain a decision if doing so would reveal a security control, interfere with an investigation, or violate law.

An execution provider may receive and temporarily control a deposit for the limited purpose of completing or refunding the swap.

Those Terms also said "If your deposit fails an AML check, we will refund it." That is still how we handle AML fails. This deposit was not blocked simply due to AML score. It was frozen because an investigation agency sent a freeze request about funds that came directly from a reported theft. Section 8 covers that case.

3. The Terms change, with correct dates
The freeze section was added on October 15, not October 19. The October 19 change only added a governing-law clause. We added the freeze section after this incident so the situation is written down clearly in future.

4. Who holds the funds
Our execution provider for this swap is Swapuz. The deposit went to a Swapuz deposit address, and Swapuz applied the freeze after receiving the request. EagleSwap has never had control of these funds. Previously we called it "our liquidity provider's wallet". To be precise: it belongs to Swapuz, not to us. Also just to avoid confusion, different terms are indeed applied to our swaps than if you were to use Swapuz directly.

5. Evidence
On-chain (check these yourself):

• Reported theft transaction (the biggest one in this case): 0xe3eff58f5b1b5603031e54285a23a0bcea4fbba0dd90bf80ab9581b2047e2620
• Deposit into the Swapuz address, sent directly from the wallet involved in the theft with no hops in between: 0xb5e2112e2ad59f275e11bb3d6f78f673c063d7594b48b0d69911ccfe8065aaf2
• Swapuz deposit address. The funds have not moved: 0x4b04E7318782ec55b22397a4081852c25334D58c

Documents (personal data of the parties removed; the agency's details are as published on its website, www.cryptoforensic.com):

• Freeze request sent to Swapuz by cryptoforensic (the original freeze request was sent over via telegram, this email is a copy because its easier to verify): FreezeRequest.jpg
• Misttrack report on the senders address showing direct transfer: AMLReport.pdf
• Additional AML report: BonusAMLReport.jpg

You can view the files here: https://www.filemail.com/d/ritbewlaubqpmjt
(Will be replacing the link when expired. If someone has file hosting site suggestions let us know)

6. KYC
Neither EagleSwap nor Swapuz has asked anyone involved in this case for identity documents. This freeze is not a way to push anyone into KYC.

To be clear about what we do not control: a dispute over funds that are part of a theft investigation is handled by the investigating parties and law enforcement, not by us. If the sender wants to contest the theft report, those parties may ask for proof of ownership or other information. That would be their process under their own rules, not an EagleSwap requirement, and we can't speak for what they will ask. Sender of funds has not made any reports regarding this case himself due to "privacy concerns" as far as we know. All reports are made by third parties including competing services and people not linked to the case.

7. What happens next

The decision is now in the hands of law enforcement. Neither EagleSwap nor Swapuz can release, refund or speed up the freeze. The funds stay where they are until law enforcement decides whether they are released, returned to their rightful owner, or seized.

We will post a status update in this thread every week, even when nothing has changed.

8. Context
For readers: the OP runs a competing exchange. The sender has not come forward in this thread themselves. We are not asking anyone to take our word for any of the above; the evidence is listed in section 5.

Regards,
— EagleSwap Team

[KYCLESS]

Hello users and sorry for taking this long to reply.
........
— EagleSwap Team

Hello everyone!

We at KYCLESS.cc have carefully reviewed the allegations, EagleSwap's previous public statements, the available evidence, and the team's latest official response.

First of all, we appreciate that EagleSwap has provided specific transaction hashes, identified Swapuz as its execution provider, and published additional supporting documents. This is a constructive step toward transparency, and we believe it deserves acknowledgment.

However, several important questions remain.

1. Original guarantees and public statements

On September 7, EagleSwap publicly confirmed that they perform AML checks and refund deposits flagged as high-risk.

On September 8, when questioned about the possibility of funds being blocked by a third-party execution provider, EagleSwap stated:

...in the worst-case scenario, the user will receive their funds back

These statements understandably created expectations regarding refunds, including situations involving third-party providers.

At the same time, we want to emphasize an important distinction: EagleSwap never claimed to operate without AML checks. Their no-KYC policy and their AML screening procedures are separate matters. Suggesting otherwise would misrepresent their previous statements.

2. The freeze and supporting evidence

According to EagleSwap, the approximately $80,000 transaction was frozen because the funds were allegedly linked directly to a reported theft, rather than simply receiving a high AML risk score.

The team has provided the alleged theft transaction, the subsequent deposit transaction, and the receiving address.

These are useful pieces of evidence. However, blockchain transaction history alone cannot establish that a theft occurred, determine rightful ownership, or independently verify the authority behind the freeze request.

We would therefore welcome independent confirmation from Swapuz and the investigating organization, to the extent possible without disclosing sensitive information.

3. Responsibility and changes to the Terms of Service

Using third-party liquidity providers is common practice and does not, by itself, make an exchange unreliable.

However, customers initiate their swaps through EagleSwap and rely on EagleSwap's own representations. The involvement of an external provider does not eliminate the need for clear communication and accountability toward those customers.

We also compared the archived Terms of Service with the current version.

The earlier Terms already prohibited exchanging stolen or fraudulent assets and included limitations concerning refunds. However, the explicit provisions addressing freezes requested by investigation organizations were introduced after the incident.

This distinction matters. Subsequent clarifications may improve transparency for future customers, but they do not automatically resolve questions about the commitments made when this particular swap was created.

4. Fair assessment of both sides

We also recognize that some allegations have been raised by representatives of competing exchange services, while the actual sender has not personally presented their position in this discussion.

That does not invalidate the complaint. However, it reinforces the importance of evaluating verifiable evidence rather than relying on accusations, speculation, or the reputation of either party.

Likewise, we do not believe it would be fair to disregard EagleSwap's explanation simply because the funds remain frozen.

5. KYCLESS's position

At this stage, we do not believe there is sufficient independently verified evidence to conclude that EagleSwap deliberately misappropriated the approximately $80,000 or committed fraud.

Nevertheless, the unresolved freeze, the discrepancy between earlier public guarantees and the current situation, and the absence of independent confirmation of the investigation raise legitimate concerns.

Our position is that users should be clearly informed about this unresolved dispute, without automatically assigning a definitive SCAM label based solely on allegations.

We would appreciate further clarification from EagleSwap and Swapuz regarding the circumstances of the freeze, the authority responsible for it, and the possible conditions for releasing the funds.

We will continue monitoring the situation and consider any new, independently verifiable information.

Our priority at KYCLESS is not to defend EagleSwap or its accusers, but to provide our community with accurate, transparent, and objective information.

[icopress]

These promises were written for normal use, and for normal users it still holds: no risk-score holds, and refunds when an AML check fails.

An execution provider may receive and temporarily control a deposit for the limited purpose of completing or refunding the swap.

You are mistaken; any given set of terms either applies to everyone equally or to no one at all.

This is not the kind of field where one can afford to throw words around carelessly.

[examplens]

• EagleSwap or its partners don't asks for KYC over risk scores, and we have not asked anyone involved in this case for documents.

The decision is now in the hands of law enforcement. Neither EagleSwap nor Swapuz can release, refund or speed up the freeze. The funds stay where they are until law enforcement decides whether they are released, returned to their rightful owner, or seized.

You must be kidding yourself, right? You claim that you are no-KYC (together with Swapuz) and in the end it seems that the funds will be seized. If the funds are with Swapuz, why can't I refund them? This is practically a robbery.
Did you share the request of the authorities to handle user funds in this way?
If I remember correctly, Swapuz offered the option of AML checking (manual) and always promised a refund if AML was too risky. What has changed here?

[strunberg]

Wow, I’ve used this service before. Maybe the reason I didn’t encounter any issues is that my transactions were for small amounts?
I’m curious is it possible for funds to be frozen for instance, due to a request from law enforcement or an indication of theft on any swap or exchange platform?
An for EagleSwap, the problem here isn’t the 0.0067% failure rate. It’s the size of the amount involved, 80,000 dollars. Besides, that claim of 15,000 successful swaps is still open to debate.

[hugeblack]

Documents (personal data of the parties removed; the agency's details are as published on its website, www.cryptoforensic.com):

• Freeze request sent to Swapuz by cryptoforensic (the original freeze request was sent over via telegram, this email is a copy because its easier to verify): FreezeRequest.jpg
• Misttrack report on the senders address showing direct transfer: AMLReport.pdf
• Additional AML report: BonusAMLReport.jpg

You can view the files here: https://wormhole.app/dLoBEK#7gcb4V_bzRod6E7pjon5UA
(Will be replacing the link when expired. If someone has file hosting site suggestions let us know)

Could you update the link? And why do you persist in claiming that you do not require KYC, when Swapuz is known to potentially request KYC from normal users (such as cases involving high AML risk)?

[alani123]

This thread should serve as an example that marketing is dogshit when it comes to what each exchange really does.
A supposed no-KYC exchange flaunting privacy as part of their marketing have zero liquidity of their own and just hands your coins to a fully centralised KYC-full service that will just freeze your coins over the absolute dogshit excuse of "urgent request by Blockchain info provider".

What the hell is that even supposed to mean? How does a Blockchain explorer have authority over anyone's funds?