A significant crypto exchange controversy is unfolding as users claim ChangeNOW is withholding over $75,000 in funds following completed Know Your Customer (KYC) verification. This situation has triggered widespread frustration and concern over ChangeNOW’s customer support and fund safety policies.
Case Summary - The Numbers Tell a Tale
An extensive swap was initiated via Atomic Wallet using ChangeNOW's services:
Order #1: 28,461 XRP → 62,589 USDT
Order #2: BTC → 12,903 USDT
Total withheld: 75,493 USDT
Despite passing all KYC checks through SumSub, the user reported unexplained delays in processing their transactions. "Held the funds for several days without processing. They ignored my requests for a resolution," stated the affected user, echoing concerns across various forums.
Users Share Similar Frustrations
Feedback from others on crypto forums highlights a mix of anxiety and skepticism. Some comments include:
Security Concerns: "I emptied my holdings with them two years ago it was a known hack."
Frustration with Support: "Just call up your bank bro. Oh wait."
Skepticism About Services: "Wouldn’t it be easier if everyone just transferred their coins to an exchange for selling?"
Negative Past Experiences: "Got scammed for 2 BTC via Changelly; I think ChangeNOW is similar."
These sentiments contribute to an overall negative outlook towards ChangeNOW as users fear losing their assets.
ChangeNOW's Handling of the Situation
Interestingly, ChangeNOW previously stated in their blog: "Users who have passed KYC will have their exchanges completed at current market rates or refunded." This assurance appears contradictory amid ongoing disputes about unresolved transactions.
Public Outcry and Next Steps
As user frustration mounts, the future of trust in ChangeNOW hangs in the balance. Will the exchange act swiftly to address this issue, or continue to leave clients in the dark? Community members await a formal response and hope for the expedited release of the withheld funds.
Key Insights
⚠️ User's Withdrawal: Funds still withheld despite full KYC compliance.
🔒 Compliance Checks: AMLBot rated the risk as low, showing no issues.
❗️ Contradictions in ChangeNOW's Promises: Public assurances not yet met by actions.
The instinct to seek safer platforms may grow stronger, reminiscent of previous shifts in user behavior following frustrating experiences with service providers. As discussions spread, the landscape of crypto exchanges could see new players rise to meet reliability and engagement demands.