The frustration with this is real. Also without going into to much detail of anything specific. I am aware of companies currently trying to shut down a crypto scam where someone will generate a new crypto token and base it off of something more legitimate looking in an attempt to legitimise the token. They then go on to the usual pump and dump scheme, or pump and transfer to a new crypto then pump again.
The whole setup is a scam and the exchange is very reluctant to do anything about it. Legal action is limited due to location, and if the scam can be disrupted sufficiently then the creator dumps the token and disappears off to create a new scam leaving his victims stuck having lost all their money.
The nature of it means thereās nothing to stop them creating as many scams as they want. And the nature of crypto means that you donāt even need cash. They can get you into their new ācoinā via another Bitcoin exchange or directly from your own Bitcoin wallet into their exchange of choice.
As your cash it outside the regulated market, your screwed. But the trail ultimately started with your cash in a bank eventually ended up in the hands of a criminal.
@Mathew@Graham looks like thereās a few posts that could do with moving into the cyrpto thread. Itās now just over nerdy here and a bit off topic from the original focusā¦
For me, the problem is this asymmetrical liability. If exchanges were fixed with at least some of the costs, I think the problem would be a lot smaller overnight.
I reckon youāll get the finger if Iām honest. They will have already come up with a plausible explanation. I feel youāre just wasting your time to be fair, but hey, if you feel that hard done by, why not!
I made the complaint not on the grounds that they have no right to do what they want, as @danw mentioned
I made a complaint that simply asked for acknowledgement that this has inconvenienced legitimate users with money tied up in crypto, as no notice period was provided
I have also just made a transfer to Coinbase, but Binance is blocked
No, but I did mention that i now have to find another way to cash my crypto out
They told me you can still purchase via card, to which I told them I canāt cash out without passing KYC which requires me to be able to make an initial deposit
maybe one day, but not in the near future. it would be a lot cooler though if instead of banks we were using different wallets and just transferring our private keys over
I just had a call (and an argument) with one of these scams.
She called and said āIām calling about your bitcoin trading accountā, which I donāt have, so I knew it was going to be a scam. Then proceeded to ask me if I had an account.
I called her out on her fishing, saying itās clearly a scam and she has no idea.
āWhy do you think itās a scam?ā
āBecause I donāt have a trading account, you started off saying I did, then asking about it and soon youāll want me to transfer moneyā
Then she started to try and talk louder and talk over me, so I told her to listen without talking, which she got angry about and said she didnāt have to listen to me at all (lol) and cut me off.
So clearly this was a completely hope for the best call from a dickhead in a call centre? Sheās lucky it wasnāt me because woman or man, Iād have still called them my favourite Anglo Saxon swear word. They obviously donāt know who you are and theyāre never going to make a complaint, so crack on and verbally abuse them
