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The original was posted on /r/monero by /u/TheFuzzStone on 2024-09-09 16:23:36+00:00.
As I promised (on the screenshot) - I inform the community that the response of nonkyc.io exchange seemed very suspicious to me, and I don't recommend trading there, because at any moment they can freeze your money and claim “bad AML”.
I decided today to look around to see where else I could buy XMR for USDT without KYC/AML, and I accidentally found this exchange.
On their website, I found their Telegram chat, and went to them to ask a simple question...
Here are screenshots of the exchange representative's reply:
For those who don't know what an “AML score” is, it's another hurdle by governments and regulators to make life as difficult as possible for people who want to buy/sell crypto/tokens on a transparent blockchain like USDT.
As shady as USDT is, it plays a huge role in the over-the-counter (OTC) market, and often acts as an entry point from fiat to crypto. And for some countries, such as Argentina, USDT plays a much bigger role than just a token.
Those of you who know me, know that I have a lot of experience in the OTC market. And this answer and this behavior of the exchange representative alarms me, and here's why...
I understand that the exchange wants to protect itself from “black” USDT, which was stolen somewhere. But, instead of specifying on their website the total AML score (or separate AML score for different categories) from which they start blocking USDT - they prefer not to say. And this means to me that at any moment they can freeze your USDT or BTC and say that you have a “bad AML score”. And as a rule, this happens as soon as you send a bigger amount to an exchange.
To trade there or not, decide for yourself. I will not send a penny there on principle.