How Freewallet exchange steals coins

Crypto exchanges are a popular place for traders to buy and sell coins. But large services like Binance are more popular among traders and investors. Ordinary users prefer to conduct cryptocurrency transactions on small platforms. In particular, exchange services built into crypto wallets are popular. Freewallet exchange is one of such places. It may seem like a convenient tool to buy or sell tokens and coins. In just a few clicks you can exchange crypto assets or top up your wallet with a bank card. But this method of buying coins is fraught with loss of savings. Freewallet exchange is a scam, not a service!

Freewallet exchange is a scam

You may ask why Freewallet exchange is dangerous if it is built into a popular application and seems like a very convenient tool. It’s all about a scheme known as KYC fraud.

KYC fraud, in the context of apps like Freewallet, involves the manipulation or falsification of identity verification processes that are intended to confirm the identity of users. KYC, or Know Your Customer, is a standard procedure for financial services to prevent illegal activities like money laundering.

• On usual exchanges KYC is used to prevent fraud and illegal activities. Freewallet exchange uses KYC/AML just as an excuse to steal coins.
• Administration blocks coins and doesnt let clients to withdraw assets.
• Users try to pass KYC but can’t because support ignores requests.

It’s not a mistake or misunderstanding, it’s a scam!

Check this screenshot. User made a post on Bitcointalk telling that Freewallet org blocked his account. They dont let to withdraw coins, even though this account was verified earlier. You can find dozens of similar complaints!

One conclusion can be drawn from this: Freewallet exchange was created to steal client assets. Don’t let your savings be stolen, avoid this app.

Help us to stop Freewallet scam

We ask readers to take literally 2 minutes to help those affected by the actions of Freewallet org. Please sign the petition calling on the NFIB to investigate the app’s administration. Follow the link and add your signature.

In addition, if you or someone you know has become a victim of scammers, write to freewallet-report@tutanota.com.

We will help you prepare a statement to law enforcement agencies free of charge. Only an official investigation will help stop the scammers.