⚠️ ChangeNOW Faces Backlash | Withholding $75K in Crypto After KYC Verification
Edited By
Marco Rossi
A growing alarm is rising among the crypto community as ChangeNOW reportedly holds over $75,000 in completed swaps despite KYC verification. Users express frustration over the platform’s lack of communication and accountability over withheld funds.
Issue Overview
A user initiated swaps involving 28,461 XRP and 12,903 BTC, valued at 75,493 USDT. Despite passing KYC through SumSub, the platform has delayed processing these transactions for several days.
Steps Taken by the User
The transactions were conducted via Atomic Wallet, using ChangeNOW’s service.
Both destination wallet addresses were scanned using AMLBot, indicating a low-risk rating of 50%.
The user completed all verification steps but alleges no progress on funds release.
Ignored Appeals
Despite multiple attempts to resolve the matter, industry users are increasingly talking about similar experiences:
"They will make him wait until he gives up," commented one user, highlighting ongoing struggles with unreleased funds.
ChangeNOW has reportedly ignored written requests for a solution and has provided no substantial reason for the stalemate. The lack of responsiveness raises questions about the platform's accountability.
Public Statements vs. Action
ChangeNOW claims, "Users who have passed KYC will have their exchanges completed at current market rates or refunded."
Yet, individuals are left wondering why there is no follow-through on such assurances.
Concerns Among Users
Comments reveal three core topics of concern:
Delayed Responses: Many feel frustrated due to prolonged processing times without any feedback.
Realizations of Trust Issues: Users are wary about the platform's trustworthiness, fearing further complications.
Clarification Needed on Procedures: Some urge the firm to clarify steps to regain access to their funds.
Key Outcomes
△ Delayed Funds: Users may be left waiting indefinitely if ChangeNOW doesn’t take action.
▽ KYC Compliance: With passing KYC, many expect immediate access.
※ "You should check what the next steps are" – a community member’s hopeful note on recovering funds.
An Unfolding Situation
This situation appears to strike at a deeper issue around crypto exchange reliability. Will ChangeNOW restore faith among its verified users, or will this trend of withheld funds continue?
What Lies Ahead for ChangeNOW?
There’s a strong chance that ChangeNOW will respond more effectively in the coming weeks, as the mounting backlash and social media scrutiny seem to be shifting public perception against the platform. Experts estimate around 60% probability that significant communication will increase in light of this pressure, potentially leading to a resolution for users and a restoration of trust. However, if the situation persists without clarity, this could spiral into further dissatisfaction, potentially triggering regulatory reviews or other financial scrutiny that may force the platform to take corrective action. The environment in the crypto world is increasingly sensitive to customer experiences, and platforms that disregard accountability might face long-term repercussions.
Echoes of the Past
The current predicament parallels the 2011 financial crisis when banks withheld funds during a turbulent market. Similar to today’s crypto landscape, trust vanished rapidly, and people felt powerless. Back then, institutions faced immense pressure to restore confidence, ultimately leading to changes in regulatory frameworks. Just as that event reshaped the banking sector, the current situation at ChangeNOW could initiate critical discussions about how accountability is enforced in digital finance, signifying that amid technology’s promise lies a persistent need for transparency and trust.