- Nov 21, 2023
- 24
- 0
AML Cases: How Exchanges Launder Your Money and How CoinCross Fights It
On the forum, we encountered a case of a user exchange on Exline. The crypto funds allegedly did not pass the AML verification This happened because the exchange set its own verification rules — to accept addresses labeled no higher than 30%.
The exchange chose to operate according to its internal rules strategy, not to refund clients in high-risk cases. But what surprised us the most was not this
To still return the funds, the client was required to provide a list of answers to questions and documents:
✔ Passport.
✔ Selfie with the document and a sheet with the application number and signature.
✔ Answer to where the funds came from and screenshots of correspondence with the sender ().
Such an approach surprised not only us, but also our colleagues from 24bitbank.
That's why CoinCross has rules that do not compromise your anonymity:
In case your funds are flagged as high risk, we will not require a passport for refund. We will maintain your anonymity regardless.
Any questions related to AML verification can be addressed through our support @CoinCrossBot. Exchange crypto safely and anonymously, as it should be.
On the forum, we encountered a case of a user exchange on Exline. The crypto funds allegedly did not pass the AML verification This happened because the exchange set its own verification rules — to accept addresses labeled no higher than 30%.
The exchange chose to operate according to its internal rules strategy, not to refund clients in high-risk cases. But what surprised us the most was not this
To still return the funds, the client was required to provide a list of answers to questions and documents:
✔ Passport.
✔ Selfie with the document and a sheet with the application number and signature.
✔ Answer to where the funds came from and screenshots of correspondence with the sender ().
Such an approach surprised not only us, but also our colleagues from 24bitbank.
That's why CoinCross has rules that do not compromise your anonymity:
In case your funds are flagged as high risk, we will not require a passport for refund. We will maintain your anonymity regardless.
Any questions related to AML verification can be addressed through our support @CoinCrossBot. Exchange crypto safely and anonymously, as it should be.