WhiteBIT Withholding My Funds Despite Meeting All Requirements - Beware of Unreasonable KYC Practices

Dear user,

Could you please provide some proofs to support your complaint? Including trading account number, deposit amount, trading records and chat history with this broker. You may add proofs in your complaint.

Best regards

BrokersView Team

service@brokersview.com

I am sharing my frustrating experience with WhiteBIT (https://whitebit.com/), which involves unreasonable KYC demands and a lack of transparency. Background: I attempted to withdraw €11,888, which is below their stated verification threshold of €12,977.5. WhiteBIT’s platform states that additional KYC is not needed below this limit. However, they have continually demanded extra documents, despite me fully complying with their initial KYC requirements. Issues: 1. Policy Inconsistency: • Despite my withdrawal being below the stated threshold, WhiteBIT has kept demanding more documents, contradicting their own policies.

2. Excessive KYC Requirements: • Even after submitting everything they asked for, including additional proof of income, my funds are still on hold. Their demands are becoming redundant and bureaucratic without a clear reason.

3. Deposit vs Withdrawal: • Deposits were processed with no issue, but the moment I tried to withdraw, they introduced unjustified demands. This feels like a bait-and-switch tactic.

4. Lack of Transparency: • I am left without any clear answers. Their responses are vague, delaying my access to my own money. Lack of Regulation: WhiteBIT is not registered with De Nederlandsche Bank (DNB) or the VASP framework, which leaves users vulnerable due to a lack of regulatory oversight. Warning to Users: If you’re considering using WhiteBIT, be cautious. They are inconsistent, unregulated, and non-transparent. I recommend opting for a regulated exchange that respects user rights. WhiteBIT Username: ruddy_avalanche#6206

Withdrawal TXID:243a06a7-84a0-47cf-9f9b-906de5ea7851

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