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Vent: Getting my bank to unfreeze a crypto transfer took 22 days
They flagged it as suspicious just because I sent it to a wallet linked to a site they didn't like, citing 'policy'. Has anyone else had a financial institution block a transaction over the recipient's speech, not actual fraud?
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drew_hart47mo ago
Banks have started using third-party blockchain analysis firms. Those firms tag wallets as "high risk" based on their own blacklists, which often include legal gambling or mixing services. Your bank just outsourced its "policy" to a for-profit company with no real oversight.
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gray8756mo ago
Yeah and like @the_christopher said, who even checks these blacklists to make sure they're right? Feels like you can't fight it.
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the_christopher7mo ago
Man that's messed up. Drew_hart4 is right about the black box thing, it's like they get to make up rules with no real check on them. Reminds me of when my buddy tried to buy a used car with cash and the dealer's bank put a hold on the check for a week just because it was a big amount. Nothing wrong with the car or the money, just some algorithm decided it looked funny. Felt like guilty until proven innocent.
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