Many companies ask for superfluous information from the client that they do not need. Not only to comply with general EU requirements, but also to be extremely diligent and make such inconvenient decisions on their own for their clients, ostensibly on the grounds of protecting against money laundering or supporting terrorism.

After all, they themselves know and understand that you do not launder much money with USD 20 and you do not help terrorism much with that amount. But it is all because of some restrictions, controls and surveillance that benefit them. What then about the official banks, which are being sued and tried for millions or billions of money laundered?

I think that their zeal will kill them and that customers will simply walk away from them, opting for sensible services where the company is on the side of the customer, does not squeeze the customer, does not demand too much and applies the most minimal requirements.

I understand that companies can be squeezed by the government, but it takes time to see whether a company stands up for its customer and fights for them, or whether it is prepared to sell them out to the government. Reputations are built up over a long and patient period of time but can be destroyed overnight. It is very good that we write about all events and problems, so the people has a possibility to sort out who is who.

Yes, it's a bit strange. I think in this case they were triggered by two separate things, and both the automation and their team didn't link them together. The transaction from Yobit was suspicious to them because they already had Yobit on their list of suspicious platforms, so they held the transaction. And the IP was blocked (in my opinion) because I was checking my account more often than usual at the time. This is the conclusion I came to after their reply to me. To them, these are two separate events, unrelated to each other, whereas to me or to others they may appear to be related factors.


Yes, I know that now ) I'm not a very big and frequent crypto user, so I'm gathering my own personal experience after such or similar incidents, and after the kind advices of more experienced forum members. Thanks!

Yep, agree with you. We need to give time to cool down, not rush to conclusions, wait, and let emotions calm down. Then calmly, step by step, try to resolve the situation. Of course, experience counts for a lot. When you have been working with cryptocurrencies for at least a few years, when you know how things work, when you know that there are all sorts of situations, you become more cautious, more vigilant and more wise.

I was scammed about a year ago around €800 by "selling NFT". I thought maybe I could share my experience to protect others, but I see that NFT are not a very popular topic on this forum.

And at the moment I have another transaction hanging - it has been "pending" since 28 March, this time on another platform. In my knowledge and opinion, this is too long. I have already spoken to them a few days ago, they said to wait. If nothing changes in a few days, I will seek advice here again. But I am not in a hurry to blame anybody now either, I just want to find out if this is happening, why it is happening, so that I can know in the future and build up experience.

Hello,

This will probably be the last update to this thread. The only problem that remained was that my desktop IP was blocked. An email came from them:

"Please be noted the IP address has been restricted due to safety reasons. Several actions might cause this:

1. Login credentials have been provided incorrectly too many times.
2. Dynamic IP is used.
3. You have clicked on the same button for multiple times.

As our system recognizes such actions as suspicious, the IP address is restricted accordingly. This is done in order to protect your account from the possible hack case."

My IP was unblocked shortly afterwards and I can now freely access their platform.

I think my option was the third one: I was connecting to their platform more than usual at that time.

So, my little story has a happy ending. Conclusion - Spectrocoin is fine, at least for the moment. They have explained and justified their actions, which I can understand and justify. Therefore, my trust in them has not diminished. We might wish that things could be resolved more quickly, but we should be aware that there are a lot of users with problems, so everything takes time.

I understand that Spectrocoin is not the first choice for many of us, but for those who are still using it, I have a personal advice - if there is any problem, don't be quick to blame them or any other service for scams or other accusations, just calmly and politely try to work it out with them.

 I see some, especially newbies, posting and rushing to accuse even serious companies of scam. Very often the solution to the problem is on the user's side: they either don't read the company's Terms of Service, break the rules, are unfair to the company, but they don't say so in their accusatory posts. Of course, I am not talking now about really serious problems, scams or malicious abuses by companies.

That is all for now. I have added SOLVED to the title of the post so that there is no shadow next to the company name.

Thank you all for your advice and comments.

Some news. I'll also say that I've sent them an additional screenshot from Yobit, showing the withdraw. I don't know if it has sped up their reaction, but an email came from them a few days ago. They thanked for cooperation, released the transaction and the money came into my Spectrocoin wallet. Next to that they wrote: "please be advised that you can no longer receive payments from YoBit.net platform. Further payments received by you from this platform will no longer be accepted."

Another email also came saying "that your verification needs to be updated", even though I had already done it a few weeks ago. So I went through the whole questionnaire again, just by clicking 'Next'.

So I conclude, as many of you here have surmised, that the main trigger here was the sender and his reputation - shady Yobit. And at the same time, this is a tip for those who still use Spectrocoin and Yobit and are not aware of the reputation of the latter - these two companies can not be intertwined in any way. Avoid making transfers from Yobit to Spectrocoin, as you may have problems, bigger or smaller. This is more for newcomers. Experienced users who know Yobit better could tell more about it and transfers from it to other wallets.

So the problem is partially solved, because my desktop static IP is still blocked by Spectrocoin. I have asked them about this twice already, and I have emailed them again recently, but I have not received a reply yet. When I have any news (including news about no news), I will add more here.

Thank you all for your advice and comments.

Guys, thank you very much for a great attraction - to the authors of the idea and to all the creative executors! It was so much fun to remember the old days when I used to lose poker online, lol

Thank you for advice to use a wallet first. And you're right about fishy Yobit as a trigger. I have a bit new info, will update my post today later or tomorrow.

Haha, I agree with you. I have been inactive in the cryptocurrency field for a few years due to my employment and my job commitments. A few months ago I came back and started checking, cleaning and organising my old wallets and other logins. I found it interesting myself, it's like going back a decade in a time machine. At that time, Spectrocoin was a good tool for me and I used it well, although with caution, because I knew its origin, activities and some facts.

 Of course, the market has changed a lot over the years and new good players have emerged.

In fact, I was a bit surprised that Yobit allowed me to withdraw money, given its reputation. Well, maybe it's just because they let me withdraw a small amount in anticipation of a bigger top-up from me, but that's just my speculation. And the second time I was a bit surprised when the money came to Spectrocoin and not just out of Yobit

Yeah, in this case the small money is not the point. The point is why and what are they doing it for? What is the reason? Where is the trigger here?  Once the answers are known, or if there will be no answers, which will also be some kind of answer, it will be possible to decide how to proceed with this company. For existing Spectrocoin customers or potential future ones, this little story may be of some help in the decision-making process.

So far, no news up to this minute. No emails from them, and my IP is still blocked.
Thanks.

Yes, a static IP. As I remember, there weren't too many requests to my website, maybe a bit more than usual, because I was checking the situation and wanted to see if this money had arrived. But your guess is logical and could be one of the reasons.

But the fact that they didn't freeze my money and I was able to transfer it elsewhere suggests that they may just be clarifying and don't see much point in blocking or completely cancelling my accounto.

I have read all sorts of reviews about them, including very negative ones. They have never been my No1 choice, although their services are quite attractive. And now that there's only a few dollars left, I'm just wondering how it's all going to work out, and the experience will be very useful in the future.

Thank you.

Yep, I must agree, they can do what they want for whatever reason they want, and I understand this. Just it was first time for me, although I have had many different transactions before, in larger amounts. If they do it for the sake of the platform and the security of my account, I'll be happy. And yet, the question sounded strange: what will you use your 18 dollars for?

No, on the phone I used web browser, not app. On my computer/desktop I have one IP, and on my phone web browser is another IP.

Yes, they have various services, cards, bank transfers, exchange etc, and with all of this they are attractive enough, as I said, I have been used them many years.

"sadly this type of request is very often done by centralized services and exchanges." - ok, will know now.
I heard about Yobit's reputation and just played there in my spare time, never deposited and never invested, so thought just to try to withdraw these few dollars.

I didn't use a VPN, it's a stable IP. But if I was able to login on my phone it means they did not block my account, just IP.

Thank you.

Hello. First of all, I apologise if my post is in the wrong topic, I was looking for the best place for it.

I have used the wallet and brokerage platform SpectroCoin for many years. Sometimes there were minor problems, sometimes it was normal. I even used to have a plastic card that I could use to cash out bitcoins at the ATM into Euros. My amounts there are small. Just as another alternative to other wallets or platforms.

About a week ago, I made a transfer from yobit.net (where I've had a few dollars for ages) to my Spectrocoin wallet, about 0.0002 BTC. Nothing happened for a few days, no money came into my Spectrocoin wallet, even though yobit.net shows that the transaction is now "Completed" and the money is out. Then I get a strange email from Spectrocoin, from the "Operations Team":

"You have received ***** BTC in your SpectroCoin wallet. Transaction hash: *****.
In order to comply with rules and regulations, we would like to ask for:
    A short description regarding the reason for this payment (see questions below).
    1. What is the purpose of collecting the assets?
    2. Who is the sender of the assets?
As well as any documents supporting your explanation (e.g. invoices, agreements, statements from sending crypto platform)"

I checked - it was the exact amount and hash number of the transaction from Yobit.
After about a few hours, I could no longer access their website on my computer: "Your IP Address ***** is blocked." I guess this is not a coincidence.

I replied: if you see the exact amount and hash and the money hasn't come yet, is it you who is holding the transfer? I find your question strange - what is the purpose of collecting assets? What is the purpose of the money? Should I now specify where and how I will spend it? And I said that the money was transferred from Yobit.net. I also said that my IP is now blocked and I cannot access the site at all, is it you who have blocked me, or is it an automatic blocking for some reason unknown to me, perhaps because someone has discredited my IP?

A day later they wrote back to me that due to the blocking their "representative will get back as soon as possible." It's been a week now and no further response. By the way, I logged in to Spectrocoin on my phone and successfully transferred the remaining money to another wallet.

I'm not trying to accuse them of anything, I'm just asking questions because I haven't come across anything like this. Maybe you someone has more experience and similar practices.  I will just add that I have never broken any of their rules and I have a certified account with all the documents and biometric passport data.

Can a wallet manager hold a transaction?
Can they ask where the money came from and what you will spend it on?
Maybe they suspect some illegal activity and find the transaction suspicious?
Maybe they are hedging against a possible hacking?
Maybe they suspect money laundering? But it's only 18 USD
Something else I don't know or understand?
Have you ever had similar questions from your wallet manager?

If you could comment on something, if you have encountered a similar situation, I would be very grateful.
Also, I will clarify and update the information as soon as there is something new. If everything is okay, I will write to avoid casting a shadow on the company and damaging their reputation. If there is something wrong, I will also write to let others know and warn them to beware.

Thank you for your feedback.

So when will USD or Euros became illegal because we can see using them in wrong way everyday in the world.
Yes, the specific of Bitcoin is a bit difference, but is the same as if a knife will become illegal because a man has been killed.

Yeah, real evidence, LOL  
A very good article, btw, thanks.

I think any skills including design, coding, ads etc.
The same as you'd earn 'old fashioned' currency - dollars, euros etc.

How nice, polite and ethical speech! Congrats, now you really will get money you need, LOL

It's time to open a new account. Good by wampz.

No, it isn't. You can't decide what is right collateral. Read the Rules.

I have no doubt about it. But I think anyway is better to leave negative feedback in case this account will be sold or user will decide to use it later.

If some guys have "lots and lots of money" they have no need to learn how to approach a woman. Girls themselves come and accost