A user started an exchange on changenow.io, sent 200,000 XRP worth about $440,000, completed a lengthy KYC process after the exchange was stopped, but says the platform has kept their funds for weeks without updates or release despite repeated follow-ups, urging others to avoid the service.
Following the initiation of the transfer, the exchange was abruptly halted, and the user was prompted to undergo a rigorous Know Your Customer (KYC) verification process. Despite the user’s assertion that they complied fully by providing documentation and responding to extensive inquiries regarding the source of their funds over a four-day period, the situation has remained at a standstill.
The user reports that after submitting the required information, communication from the platform's support team ceased, leaving them without updates despite repeated follow-up attempts. With the assets still held in limbo and no clear resolution in sight, the investor has taken to public forums to warn others about the risks of using the service. This incident highlights the growing friction between non-custodial exchange platforms and the increasingly stringent, and often opaque, regulatory compliance protocols that can lead to significant asset liquidity issues for users.
Source: https://bitcointalk.org/index.php?topic=5545617.0
Regards,
Trêvoid
Following the initiation of the transfer, the exchange was abruptly halted, and the user was prompted to undergo a rigorous Know Your Customer (KYC) verification process. Despite the user’s assertion that they complied fully by providing documentation and responding to extensive inquiries regarding the source of their funds over a four-day period, the situation has remained at a standstill.
The user reports that after submitting the required information, communication from the platform's support team ceased, leaving them without updates despite repeated follow-up attempts. With the assets still held in limbo and no clear resolution in sight, the investor has taken to public forums to warn others about the risks of using the service. This incident highlights the growing friction between non-custodial exchange platforms and the increasingly stringent, and often opaque, regulatory compliance protocols that can lead to significant asset liquidity issues for users.
Source: https://bitcointalk.org/index.php?topic=5545617.0
Note to the community from Trêvoid
Be cautious! Changenow is scammer. Avoid using it.Regards,
Trêvoid