KYC/AML Requests GhostSwap Swap Pending After KYC

Trêvoid

TrêvoidTrêvoid is verified member.

No KYC / AML
Staff member
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An individual is documenting their personal experience with GhostSwap to help others make informed decisions. This post is based on their own account of events and on publicly observable blockchain activity. Benedesuuuk (OP) on bitcointalk shared this report.

Source: https://bitcointalk.org/index.php?topic=5587469.0

Swap details
  • Swap ID: 41gf6aamcb79iw8o
  • Amount: 12.441 ETH
  • Date: 24 May 2026
  • Source wallet: 0x8520cc42c1a3500e82c77079d345f5425ca4c907
  • Transaction hash: 0xc22d4d100c5589179ee7c0808dea02cf034a9b5c92433eb1f2c4d0c7f27a71fe
What happened: On 24 May 2026, the user submitted 12.441 ETH to GhostSwap for a swap. According to the user, the funds were received, but the swap was never executed.

The user reports that they completed full KYC verification through SumSub and provided source-of-funds documentation. After that point, they say support repeatedly responded with “no updates” and did not provide timelines or a clear path to resolution.

Blockchain observations, the user states that the transaction flow appears to forward funds to an address associated with HitBTC. When the user asked GhostSwap about this routing, GhostSwap allegedly responded that HitBTC was not holding the funds.
 
I was following the case and I also reached out to the GhostSwap team. They replied.

The user’s wallet address was flagged/blacklisted shortly AFTER the exchange was created on our platform. Because it was not flagged at the moment the exchange was created, our system could not stop it before the transaction went into processing.

We are already in direct contact with the user and working to solve the case as soon as possible.
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We'll find a solution for sure, it just takes time.
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Further, we act as the security deposit holder for GhostSwap, but refunds are only possible if users first contact us via our official SimpleX address, complete the transaction through us as the designated middleman, and do not bypass our service by interacting with GhostSwap directly.

Best regards,
— Trêvoid
 
GhostSwap is no-KYC by default. No account, no email, no documents for a standard swap, even if the size of the swap surpasses $50K or $100k, and that is how more than 99.9 percent of swaps on the platform complete. That part works exactly as advertised.

What no-KYC has never meant, at any service in this space, is that a deposit flagged as connected to illicit activity gets processed anyway. That is the one exception, and it is written into our Terms of Service.

On why this specific swap is on hold: the reason is the origin of the deposit, not the person and not the size of the swap. The sending funds were flagged by automated compliance screening as connected to illicit activity. As Trêvoid noted above, that flag landed after the swap had already been created. Our screening blocks a flagged address before a swap begins, but here the flag came once the transaction was already in processing, so it could not be stopped upfront.

Once a deposit is flagged, the hold is not something any exchange can override or put a date on. It is a compliance process, the same one every service that touches regulated liquidity has to follow. We are in direct contact with the user and still working on it, and a resolution will be posted when there is one.

 
ghostswap said:
GhostSwap is no-KYC by default. No account, no email, no documents for a standard swap, even if the size of the swap surpasses $50K or $100k, and that is how more than 99.9 percent of swaps on the platform complete. That part works exactly as advertised.

What no-KYC has never meant, at any service in this space, is that a deposit flagged as connected to illicit activity gets processed anyway. That is the one exception, and it is written into our Terms of Service.

On why this specific swap is on hold: the reason is the origin of the deposit, not the person and not the size of the swap. The sending funds were flagged by automated compliance screening as connected to illicit activity. As Trêvoid noted above, that flag landed after the swap had already been created. Our screening blocks a flagged address before a swap begins, but here the flag came once the transaction was already in processing, so it could not be stopped upfront.

Once a deposit is flagged, the hold is not something any exchange can override or put a date on. It is a compliance process, the same one every service that touches regulated liquidity has to follow. We are in direct contact with the user and still working on it, and a resolution will be posted when there is one.

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@ghostswap We’re waiting for an update on the case. Also, did you block the user on Telegram?
 
Jumjank100 said:
they said your fund high aml? whats the source? where did you get it?
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They didn't tell me exactly what I'm accused of; they say the funds come from illegal activities, but I provided them with a document confirming the legality of these funds.
I traced where my funds went—they were sent to HITBTC addresses—but GS doesn't acknowledge that HITBTC is holding my funds. So who is holding them?
 
Benedysiuuuk said:
They didn't tell me exactly what I'm accused of; they say the funds come from illegal activities, but I provided them with a document confirming the legality of these funds.
I traced where my funds went—they were sent to HITBTC addresses—but GS doesn't acknowledge that HITBTC is holding my funds. So who is holding them?
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A blockchain address associated with HitBTC does not, by itself, prove that HitBTC currently holds the funds. The address could be an old exchange wallet, a deposit address, a shared wallet, or an address later controlled by another party.
 
Jumjank100 said:
A blockchain address associated with HitBTC does not, by itself, prove that HitBTC currently holds the funds. The address could be an old exchange wallet, a deposit address, a shared wallet, or an address later controlled by another party.
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Maybe, but I haven't received any updates from Gs for almost a month now; what's more, they don't even read my messages.
Is that normal?
 
Jumjank100 said:
did you tell this to HITBTC? email them? Email to GS still no reply?
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HitBTC told me to go to the police. GS hasn't responded to my messages for almost a month now. You can view the entire timeline here: https://bitcointalk.org/index.php?topic=5587469.new#new.
Many people speak poorly of Bestchange, but I regret not exchanging my funds through Bestchange.com, because the exchanges there value their reputation, and exchanges that violate Bestchange’s rules are immediately penalized and removed from the platform—but I fell for the flashy “No-KYC” advertising.
 
Benedysiuuuk said:
HitBTC told me to go to the police. GS hasn't responded to my messages for almost a month now. You can view the entire timeline here: https://bitcointalk.org/index.php?topic=5587469.new#new.
Many people speak poorly of Bestchange, but I regret not exchanging my funds through Bestchange.com, because the exchanges there value their reputation, and exchanges that violate Bestchange’s rules are immediately penalized and removed from the platform—but I fell for the flashy “No-KYC” advertising.
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bestchange also scam lol
where did you see no-kyc adversiting in here?
is trevoid told you this?
 
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