eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20

[OmegaStarScream]

can you name the best ones? asking for a friend who is still looking for a good alternative to eXch  

I have been using Swapuz and CCECash.

What's up with their list of restricted countries?:

At this time, restricted locations include the United States of America, Canada, France, North Korea, Sudan, Russian-occcupied regions of Ukraine(Donetsk, Kherson, Luhansk, Zaporizhzhia,Crimea and Sevastopol), Republic of Cuba, Syrian Arab Republic, People’s Republic of China, Japan, Republic of Iraq, Republic of Yemen, Federal Republic of Somalia, Republic of Congo, State of Libya, Republic of Liberia, State of Eritrea, Republic of Mali, Republic of Zimbabwe, Republic of Côte d’Ivoire, Mainland China, Singapore, Germany, Hong Kong, Malaysia, Malta, Spain, Netherlands, Bolivia, UK, Myanmar, Venezuela, Uzbekistan, Austria, India, Indonesia, the Islamic Republic of Iran and any state, country or other jurisdiction that is embargoed by England and Wales

This is probably the longest list of unsupported countries I have seen on an exchange. It includes a lot of european countries, and even other ones that don't have any sanctions.

[s8n]

A few weeks ago, I sent a few bucks to a known exchanger, the funds got frozen, a refund was not possible. No big deal, that is on me. If I had exchanged them P2P instead, some innocent crypto enthusiast from across the Pacific or from the Middle East would have received them. And it would have been his problem. And I seriously doubt any of the high-level operating con artists would send them to a KYC-enforcing exchanger. Among the actual crypto users, there are simply no winners in this.

KYC, AML, and SoF checks should work the following way, if applicable: The exchange asks you to provide the address that you will pay from. When you do, they do their background checks with their third-party blockchain analysis providers. You receive feedback that states that your coins are either ok or additional information will be needed from you. If it's the latter, the exchange should inform you what documents you will need to provide and why to go ahead and exchange the funds from the address you submitted. It's then up to each individual user to decide how to proceed. Give up on using that service or submit all the data and hope for the best.

But this isn't going to happen. Why? In many cases, the exchanges don't even know why certain coins are deemed dirty and unwanted and they don't care. They just get the green or red light from their partner services and forward the information to users. They also won't implement this because it's a great opportunity to steal crypto from users and direct it towards their pools for other customers to swap with, while giving the original owner a hard time.

Exactly... "Hell is empty and all the devils are here."

I also came across a nice comment accurately summarizing all of this the other day: "This sounds something like a bank being like 'oh sorry, we can't take this $20 bill because it was used to buy drugs 5 years ago, so it's tainted...but wait, we're going to keep this $20 until you can explain how you got it.'"

[Pmalek]

I also came across a nice comment accurately summarizing all of this the other day: "This sounds something like a bank being like 'oh sorry, we can't take this $20 bill because it was used to buy drugs 5 years ago, so it's tainted...but wait, we're going to keep this $20 until you can explain how you got it.'"

It's worse than that. They take your money without saying what's wrong with it and ask you to submit all private information about yourself and the source(s) of the money. Then they tell you to wait while they investigate. During that time, you are blocked from accessing your funds but the "tainted" and "questionable" money that got you in trouble was already sent out to another client of theirs as "clean" money with no bad history to it. 

[Forsyth Jones]

I have been using Swapuz and CCECash.

I believe ccecash is better, however the fees are terrible high... swapuz has much lower  fees.

I always ask in the support about my addresses before seeing coins. Never had problems and I always send in batches of small amounts

Thanks for the recommendation, it seems like a good service. I'll add it to my list in case I need to swap again.

It's worse than that. They take your money without saying what's wrong with it and ask you to submit all private information about yourself and the source(s) of the money. Then they tell you to wait while they investigate. During that time, you are blocked from accessing your funds but the "tainted" and "questionable" money that got you in trouble was already sent out to another client of theirs as "clean" money with no bad history to it. 

This alone proves that governments and their right-hand men (banks, exhanges) don't care about your privacy, they just want to tax and monitor us. Not only that, they use tax money to reinvest it in more monitoring tools to tax the population.

[NotATether]

Not only that, they use tax money to reinvest it in more monitoring tools to tax the population.

I wouldn't go that far. Only the European Central Bank really wants its governments to do that apparently. The rest are only interested in enriching themselves and their friends as far as they're concerned.

[figcapital]

I deposited some coins that are linked to eXch (I didn't even use it myself, it's like 2 people back) to an exchange and my account was frozen as a result. What can be done to lower the risk score of coins from eXch? My coins are not from illegal activity and I don't want to do anything illegal.

[examplens]

I deposited some coins that are linked to eXch (I didn't even use it myself, it's like 2 people back) to an exchange and my account was frozen as a result. What can be done to lower the risk score of coins from eXch? My coins are not from illegal activity and I don't want to do anything illegal.

First, swap them on another no-KYC exchange, and only after that, send them to CEX, where there is a risk of freezing funds.
There are several instant exchangers that, before any transaction, will check the AML score of the coins you want to swap and confirm whether it is safe to use their service.
Or use mixer

[bitmover]

I deposited some coins that are linked to eXch (I didn't even use it myself, it's like 2 people back) to an exchange and my account was frozen as a result. What can be done to lower the risk score of coins from eXch? My coins are not from illegal activity and I don't want to do anything illegal.

First, swap them on another no-KYC exchange, and only after that, send them to CEX, where there is a risk of freezing funds.
There are several instant exchangers that, before any transaction, will check the AML score of the coins you want to swap and confirm whether it is safe to use their service.
Or use mixer

I have used my coins exch in those exchanges . I always send money in small batches

Swapuz.com (they accepeted some coins, then refunded me without kyc agter a few batches)
Cce.cash (no problems)
Hyperliquid.(no problems)

[LoyceV]

I deposited some coins that are linked to eXch (I didn't even use it myself, it's like 2 people back) to an exchange and my account was frozen as a result.

Which exchange was this?

[figcapital]

I deposited some coins that are linked to eXch (I didn't even use it myself, it's like 2 people back) to an exchange and my account was frozen as a result.

Which exchange was this?

MEXC.

Deposited a small amount of BTC, account instantly frozen.

"Your account has been involved in high risk activities. In order to comply with applicable laws and our anti-money laundering obligations, your account will be restricted until further notice."

They won't let me withdraw my coins. Who knows what "until further notice" means, as far as I can tell, I got robbed.

[apogio]

MEXC.

Deposited a small amount of BTC, account instantly frozen.

"Your account has been involved in high risk activities. In order to comply with applicable laws and our anti-money laundering obligations, your account will be restricted until further notice."

They won't let me withdraw my coins. Who knows what "until further notice" means, as far as I can tell, I got robbed.

It looks like something that happened to me with Godex and I got refunded yesterday after 4 months of being constantly pressuring them: https://bitcointalk.org/index.php?topic=5540023.0

The difference is that MEXC according to COINGECKO, is the 5th largest centralized exchange, based in the Seychelles though.

It's a sad situation and I wasn't expecting it from a fully KYCd exchange. The fact that it's a highly-known full-KYC exchange gives you a better support level, so start applying pressure and ask for what happened to your coins today!

[Trêvoid]

I deposited some coins that are linked to eXch (I didn't even use it myself, it's like 2 people back) to an exchange and my account was frozen as a result.

Which exchange was this?

MEXC.

Deposited a small amount of BTC, account instantly frozen.

"Your account has been involved in high risk activities. In order to comply with applicable laws and our anti-money laundering obligations, your account will be restricted until further notice."

They won't let me withdraw my coins. Who knows what "until further notice" means, as far as I can tell, I got robbed.

The first step is to avoid using centralized exchanges (CEX) for crypto exchanges, as they will definitely record valuable user information. Even instant exchange services that support XMR usually keep logs.

[examplens]

MEXC.

Deposited a small amount of BTC, account instantly frozen.

"Your account has been involved in high risk activities. In order to comply with applicable laws and our anti-money laundering obligations, your account will be restricted until further notice."

They won't let me withdraw my coins. Who knows what "until further notice" means, as far as I can tell, I got robbed.

It's strange that they didn't provide you with any other request, additional KYC, or proof of source of funds.

Due to one "minor" transaction, all eXch addresses and coins that left there were marked tainted. After the hack, Bybit offered a reward for every frozen coin, apparently, MEXC strictly adheres to this and appropriates everything that once passed through eXch.

I have used my coins exch in those exchanges . I always send money in small batches

Swapuz.com (they accepeted some coins, then refunded me without kyc agter a few batches)
Cce.cash (no problems)
Hyperliquid.(no problems)

Add Splash.tf to the list, maybe even to the top of the list, considering that they offer the best conditions and are closest to the standard we are used to from eXch. It is only necessary that they increase the reserves.

[bitmover]

Add Splash.tf to the list, maybe even to the top of the list, considering that they offer the best conditions and are closest to the standard we are used to from eXch. It is only necessary that they increase the reserves.

Sure  , I haven't tested this service yet. Certainly looks a good option

You can also ask for Trêvoid, he has a  p2p service  which will accept coins from eXch.
https://bitcointalk.org/index.php?topic=5539912.0

[Trêvoid]

Add Splash.tf to the list, maybe even to the top of the list, considering that they offer the best conditions and are closest to the standard we are used to from eXch. It is only necessary that they increase the reserves.

Sure  , I haven't tested this service yet. Certainly looks a good option

You can also ask for Trêvoid, he has a  p2p service  which will accept coins from eXch.
https://bitcointalk.org/index.php?topic=5539912.0

Thanks for mentioning us @bitmover.

Previously, we did swap coins from eXch (ETH and BTC) without any issues.

User is welcome to contact us via private message or SimpleX

[JeromeTash]

MEXC.

Deposited a small amount of BTC, account instantly frozen.

"Your account has been involved in high risk activities. In order to comply with applicable laws and our anti-money laundering obligations, your account will be restricted until further notice."

They won't let me withdraw my coins. Who knows what "until further notice" means, as far as I can tell, I got robbed.

Damn, we are in for some really tough times!

Imagine your account gets frozen for some 4 - 5 transactions back which you even have no idea about. And from the look of things, these exchanges are going to normalize this kind of behavior, making it so hard to transact outside their exchange (making deposits into and withdrawals out of… I know they will glad welcome only "internal transfers")

[examplens]

Damn, we are in for some really tough times!

Imagine your account gets frozen for some 4 - 5 transactions back which you even have no idea about. And from the look of things, these exchanges are going to normalize this kind of behavior, making it so hard to transact outside their exchange (making deposits into and withdrawals out of… I know they will glad welcome only "internal transfers")

I had a problem with funds from eXch at a local exchange, but after a short communication, I got a refund. Yes, the reason for closing the order and freezing the funds is that part of the coins in my address are linked to the 'hack'. I think I also warned here about the potential risk.

[nutildah]

I had a problem with funds from eXch at a local exchange, but after a short communication, I got a refund. Yes, the reason for closing the order and freezing the funds is that part of the coins in my address are linked to the 'hack'. I think I also warned here about the potential risk.

This happened to me as well, not too long ago. The exchange had no problem accepting funds from eXch before the Bybit incident but afterward its a whole nother story. There were 2 silly things about this:

1) I received the funds from eXch before the Bybit hack, they just sat there for over a year, but since the eXch Ethereum address is marked/blacklisted, any funds sent at any time from them are considered "illicit."

2) The exchange accepted the deposit and immediately moved the funds to their hot wallet, all the while accusing me of having tainted funds. I pointed out to them that now their address was tainted as well. But it doesn't work like that I guess, as illicit funds received by a regulated exchange are now clean again (so long as they didn't come from a hacked exchange).

So they did end up issuing me a refund as well. They told me to be more cautious in the future, and I just accept it -- what's the point of arguing with them.

[NotATether]

1) I received the funds from eXch before the Bybit hack, they just sat there for over a year, but since the eXch Ethereum address is marked/blacklisted, any funds sent at any time from them are considered "illicit."

In the crypto industry, blacklisting is handled very poorly, which is quite pathetic considering that all transactions have timestamps and "From" addresses on them, meaning this type of ambiguity should not occur. It is either laziness in the design of the screening tools, or regulatory overreach requiring every transaction coming form an entity be blacklisted (which implies that regulators do not understand how AML in crypto works). By the way, I think the problem with requiring that is very clear.

2) The exchange accepted the deposit and immediately moved the funds to their hot wallet, all the while accusing me of having tainted funds. I pointed out to them that now their address was tainted as well. But it doesn't work like that I guess, as illicit funds received by a regulated exchange are now clean again (so long as they didn't come from a hacked exchange).

It is strange because exchanges themselves are usually threatened to be banned and fined in countries unless they send some data to said governments, but I think they are aware that most governments do not actually enforce the letter of the law for exchanges unless they get too big, which is why we hear about Binance getting banned every other month while smaller exchanges like FixedFloat fly under the radar.

[Pmalek]

Has anyone tried swapping eXch-connected and "tainted" (what a ridiculous concept) coins for ether or a stablecoin on an instant exchange, like Splash for instance, and then depositing those coins into one of these exchanges that have been known to freeze user accounts? Will that also cause issues with these centralized scumbags?