[This is an update of an article previously written by the author]
After facing an allegation of stealing a user’s funds worth $70,000, crypto exchange ChangeNow has issued a statement wherein it has clarified its stance on the entire matter. To recap the facts, on July 7, a user with the nickname ni23457 posted a message on the “Scam Accusations” section of Bitcointalk. In his message, the user accused ChangeNow of holding his 100 BCH/11BTC.
The user then made a statement saying that he navigated to ChangeNow by mistake, as he had confused it with Changelly. User ni23457 then went on to further add in the message that his transaction of 100 BCH was stopped by the exchange’s technical support team. The exchange had apparently demanded KYC verification from him before letting him complete the transaction.
Instead of complying with the KYC verification request sought by crypto exchange ChangeNow’s support team, the user admitted that he took an image of someone’s passport from Google Images and sent them. However, his step failed to work and the exchange temporarily froze the user’s 100 BCH to carry out further investigation. The user refused to cooperate and justified saying that he is fearing for his own life.
Using the BCT forum, ChangeNow has clarified its stance on the entire issue. In its statement, the exchange stated that its automated verification system deemed the user’s transactions to be suspicious. That’s when the support team requested the user to provide some valid ID and the source of his funds, in accordance with the KYC guidelines followed by the market.
The user, however, failed to provide any coherent information pertaining to the source of his funds and shared a fake ID as mentioned earlier. After ChangeNow launched an investigation into the matter, the user sent them a different photo ID after speaking further with the support team.
Crypto exchange ChangeNow in its clarification statement stated that as for the coins that they allegedly stole, they have been moved to a cold storage. The exchange said that they will remain untouched there till the investigation is complete. ChangeNow reasoned stating that they actually prevented theft of stolen funds earlier, in this manner. It concluded stating that the exchange’s support team had repeatedly assured the user that he will get back his funds once the situation clears up, as reported on a Medium blog post.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]