Quote from: Salahmu on December 09, 2024, 07:54:36 PM

I think those things actually depends on the kind of exchange we are talking about because I believe there are even some exchanges that doesn't look into the amount people are sending to there platform because they need more users to boost there reputation but for those exchanges who have reaching to the level they want can do that because when they would see how big is the money and the age you are, they would eventually trace back the transaction to check if is linked to any illegal wallet that has been use for illegal purpose and if find connected will result to account blocked without access of taking back the money, however at this point of would like someone to explain to me what such exchange will do with the money since the depositors is longer accessible to the money, does it mean that the money will be liquidated, shared or hand over to the authorities?.

Any exchange that requires you to KYC, it means they care about the origin of your money. If they don't care about the origin of your money, are you a criminal? Why do they force you to KYC? It is true that exchanges need users to build reputation and revenue, but first, they need to survive and to do that, they need to comply with government regulations. That is why they always ask us to verify our identity and comply with their terms before using their services.

As for handling forfeited assets, I think everything is clearly stated in their regulations, it's just that most of us don't read them before signing up Grin

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