• Company Review CEX.IO
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    The exchange refuses to withdraw funds, stalling...

    The exchange refuses to withdraw funds, stalling for time, making up excuses. I can see that the exchange is located in England, and I am a Russian resident. I am trying to withdraw only 200 dollars in crypto. My account on cex.io is more than 5 years old. Passed all 3 KYC. Enabled maximum security. I sit with the same ip, residence address and documents have not changed. First the exchange sent a letter:

    "Suspended registration for new users located in Russia, Belarus and Ukraine.

    Suspended all actions of users located in Russia, Belarus and Ukraine, including:
    – All deposits (crypto, fiat and e-money)
    – All professions

    The following features will remain active:
    – Account Login
    – Balances will remain visible
    – Rewards for bets will continue to be awarded
    – All user balances (crypto, fiat, e-money) are secure

    Withdrawals – fiat and cryptocurrency:

    CEX.IO will post an extended ETA on all withdrawal requests (including cryptocurrency transfers) for Russian, Belarusian and Ukrainian customers. This will be done to allow CEX.IO time to properly analyze each transaction on a case-by-case basis to assess these increased risks."

    Trying to withdraw different crypto to different wallets. Useless Rejected status

    The next day comes a letter:

    "Hi, Vitaly,
    I hope you are doing well!

    According to the decision of our Compliance Department, we will no longer be able to provide you with our services.

    You can safely withdraw your funds in crypto equivalent only.

    As long as we operate under strict KYC and AML policies, the decision on your verification request cannot be changed.

    In addition, we are not required to disclose any inside information, also included are the decisions of our compliance department.

    We hope for your understanding and cooperation!"

    Trying to withdraw 3 days in a row, no luck.
    I write again to the support service, I get a reply the next day:

    "We are writing to you regarding your recent cryptocurrency withdrawal, as unusual activity was noticed on your CEX.I/O account.

    We would like to inform you that your recent withdrawal request was rejected and the processing of your crypto transactions has been temporarily suspended. We would like to make sure that you are not going to pay an illegal broker and that they do not control your account.

    Therefore, we kindly ask you to answer a few questions:

    For what reason did you create the account?
    How did you find out about our exchange?
    Did you go through the verification process on your own, without anyone else’s help?
    Do you intend to withdraw cryptocurrency from your account? If yes, where (your own wallet / your account on another exchange / something else)?
    Do you work with any traders / brokers / investors / account managers?
    Have you tried withdrawing bitcoin yet? If yes, where to?

    The reason we are asking all these questions is because we have been receiving a lot of complaints lately. Our customers are saying that they have been scammed by dishonest investors.

    We wouldn’t bother you if it wasn’t important.

    I look forward to hearing from you;

    I send them a reply to their request, try to withdraw again, this time in LTC

    The next day I get a reply from cex.io on the filled out questionnaire:

    "I hope you are doing well.

    For compliance reasons and our policies, we can no longer provide you with our services. Thus, we have to terminate our cooperation.

    Given that this decision cannot be changed, we ask you to withdraw your funds from your cryptocurrency account only to your personal wallet. After that, your account will be closed.
    Thank you for your interest in CEX.IO .
    Take Care."

    No explanation of what the policy is, what the requirements are, of course. Please note, all this time I have been steadfastly complying with all their requirements to all their requests.
    Trying to withdraw as they write on a personal purse. For example, XLM. Naturally Rejected even for the amount of 50 dollars!
    I write to them, ask them. Let them let me withdraw, then let them delete.

    I get a reply from cex.io

    " Thank you for your reply.

    I fully understand your situation, however we have to abide by international law and regulations. I really hope that you and your relatives are safe.

    According to our compliance department, you will be able to withdraw crypto funds once you send us the required video:

    "Please complete the cryptocurrency withdrawal to my personal wallet. I understand all risks and will not have any claims against CEX.IO ". In the video, please hold a piece of paper with the inscription "For CEX.IO, current date".

    Let me emphasize that your funds are completely safe and no one but you can manage them.

    Please send me the video and you can proceed to withdraw your funds.

    I hope for your understanding!"

    I find this cex.io requirement humiliating. That then this video will end up anywhere. That Russians humiliate themselves and ask for their own funds from the merciful English stock exchange! Why do I even have to show a video, photo with confidial information on a crypto exchange? I understand KYC, but I passed it 2 years ago. But now the demands are already coming for alleged scams. On my sums of 50 dollars, logins from the same ip, with sms connected, google f2p? Cex.io you are just kidding, you are politicized and get back at ordinary peaceful citizens who have nothing to do with politics or the state!

More honest opinions from real people about the company CEX.IO

  • Anonymous user 7 days ago
    5
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    Positive reviews

    Security has been significantly bolstered with the integration of advanced authentication options, including biometric recognition and two-factor authentication, ensuring peace of mind for users when conducting transactions.
  • Qazim Rama 1 month ago
    5
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    we trust, in cex.io

    🛡️ Secure your crypto journey with CEX.IO! Compliant with regulations and boasting top-tier security measures, it's the platform you can trust. Plus, it's user-friendly! Don't wait, join the secure side now! 🚀
  • Anonymous user 1 month ago
    4.5
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    CEX.IO has been one of my best exchanges so far

    Yes, CEX.IO is one of my best exchange. It allows for fast transactions. Their security is top notch. They have a user-friendly interface. What else can I say. I'm just okay with it.
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Company review statistics for CEX.IO
3.7
40 reviews
68%32%
Service
76%
Personnel
76%
Quality
74%
Cost
71%
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