Waves.Exchange Accused Of Unjustly Locking Account Of A User Worth Over $370k

Waves Exchange, a trading platform that combines the security of a decentralized system with the UX of the best centralized exchanges, has been accused of locking the account of one of its users worth over $370,000.

Waves Lock $370K User Account

Fast-growing crypto exchange, Waves.Exchange has come under fire for locking the accounts of one of its users, Fabio without any reason. Fabio, whose account is reportedly worth over $370,000.

According to Fabio, he was locked out of his account after requesting for withdrawal from his staked account. He wrote in a thread on Twitter;

Fabio had requested the withdrawal of his USD Coin (USDC) locked in a Liquidity Pool on August 25th and was supposed to receive his funds on September 9th.

Fabio Denied Access to His Account

However, on September 6th Fabio was reportedly locked out of his account without any reason. After his account was temporarily suspended due to technical reasons, Fabio’s account has now been disabled by the exchange.

Reaching out to the customer service of Waves, Fabio was asked to provide his IP address, documents, address proof and selfies holding them, and print screens of the private data to his account.

Fabio has also provided video evidence of his interchange with the Wave’s customer service agent. His evidence has drawn criticism from crypto Twitter, with some users calling the exchange a scam.  

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On the Flipside

  • At the time of this writing, DailyCoin has reached out to Fabio, the victim as well as Waves.Exchange. This article will be updated with relevant information when a response is received.

Why You Should Care

With the crypto winter and the growth of crypto scams, investors are advised to use only verified means of purchase and crypto trading.

The latest on the Indian crypto scam is covered in:
Indian Police Book Satish Kumbhani, Founder of Crypto Scam BitConnect, on Fresh Charges

Also read:
U.S. SEC Reveals $300M Crypto Pyramid And Ponzi Scheme Scam

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