$440,000 Fraud by ChangeNow.io : CafeDread | Torhoo darknet markets
ChangeNow.io has been repeatedly accused of running a fraudulent operation disguised as a legitimate crypto exchange. A recent alarming case involved the platform freezing $440,000 worth of XRP after demanding Know Your Customer (KYC) verification from the user. Even after full compliance and submission of all necessary documentation, ChangeNow ceased communication entirely. This pattern suggests more than just poor customer service it's a deliberate fraud strategy reported by numerous users.
Recurring Fraud Patterns
The modus operandi follows a familiar sequence:
- Small transactions are processed smoothly to build trust.
- Larger transactions are suddenly flagged for KYC review.
- Once KYC documents are submitted, support goes silent indefinitely.
- Refunds are either denied outright or delayed for months—if issued at all.
One victim’s cousin, a Ukrainian resident, attempted an identical transaction and received an instant refund, while the original sender—located outside the EU—was ignored entirely. This suggests geo-targeted fraud, rather than legitimate anti-money laundering (AML) compliance. If ChangeNow were truly following AML regulations, it would treat users consistently and provide a transparent, GDPR-compliant justification for freezing funds.
What You Can Do if You’ve Been Affected
If you’ve fallen victim to ChangeNow’s practices, take immediate action:
- Preserve all communications and transaction records.
- File formal complaints with GDPR regulators, your country's fraud authorities, and cryptocurrency legal organizations.
- Consider joining or initiating a class-action lawsuit to hold the platform accountable.
This is not about compliance—it’s theft disguised as regulation. The crypto community must remain vigilant against such exploitative practices.
Not sure It's relevant, but related to crypto.
