Financial Account is On-hold and for Suspension... Deprived of Reasons/Evidences...

Greetings to you all!

Hi po... I'm not sure if this is the right sub-forum to post this po... Kindly move nalang po if not applicable here... Hehe.

I just want to ask on what to do regarding my situation? I have a Coins.ph (BitCoin virtual currency wallet) account which holds around 9,400+ pesos... And currently is on-hold/temporary disabled due to violations of Unauthorized Usage "RAW" po... Therefore, I cannot use nor withdraw any amount of my money in there...

I messaged their support thru their app and thru email asking what it is that I did, or what transactions did I made which resulted to the temporary hold of my account. But they are just telling me that they are "NOT" able to disclose any details regarding it and eventually forcing me to submit an affidavit for the request of closure/termination of the account... They said that they'll just release my balance once I submitted the said notarized affidavit...

I refuse to do what they are forcing me to do because of the following:

1. First, because I know to myself that I didn't do anything...
   
   
2. Second, they are telling me to review their Unauthorized Usage policy, I read on it and didn't found myself committing anything there... So I asked them to specify to me the specific violation I did (should there be some), but they won't specify any and continue to tell me that they cannot disclose anything...
   
   
3. Third, for me, something seems fishy since it is written in their sent sample affidavit that I should indemnify them from and against any and all claims, charges, suits, and expenses arising out or based on my usage of their service... Yes, that is understandable as their protection policy for their entity, but then again, I did not do anything...
   

Until now, they are just giving me the same answer all over again, that they cannot disclose anything regarding the suspension of my account, and still forces me to submit the notarized affidavit to be able to withdraw my balance...

I would like to ask you guys on what can I do regarding this? Is it acceptable for them to suspend my account WITHOUT disclosing the reason and/or evidence to support it? Isn't it that I have the Right to Know? If they are committing a violation against my rights or any law, what could it be so that I can also forward to them the legalities of it?

Is it wise for me to fight with my rights for it? Or should I just do the affidavit?

As much as possible, I wouldn't like to have the affidavit because it would cost me so much time and resources to address something which is I am deprived of essential information... It would also be a bad record for me, isn't it?

Please do help me... Thank you in advance...

Hi Kararens,

This is Pem from Coins.ph.

Typically we disable online cash-outs for accounts when we suspect that the account was involved in fraud, or other activity that materially violates our terms of service (gambling, illegal investment scheme, etc). Another common reason is if we are concerned an account is subject to unauthorized access.

As you mentioned in your note, you are still able to cash-out the funds by submitting a written request. The reason for this is that we need to document that you are requested for the funds to be taken out of the account, and ensure we are sending the funds to the rightful owner.

If you can contact me via our support email, and reference this thread, I can review to understand exactly what happened and help you.

Best,
Pem

Hi Pem.

Thank you for your reply in my thread.

As you've mentioned, "when we suspect that the account was involved in fraud, or other activity that materially violates our terms of service (gambling, illegal investment scheme, etc). Another common reason is if we are concerned an account is subject to unauthorized access."... As far as I know, I didn't violate anything... Nor be in a service which includes gambling, illegal investment schemes, and the likes... That is what I know... I didn't do anything...

I am asking for specifics... Meaning, you guys in Coins.ph to provide me what EXACTLY and what SPECIFICALLY did I commit... But you guys always tell me that you CANNOT disclose any details regarding it... Why is that? Why can't you provide me the specific reason or any evidences? Because there is none! Isn't it?

Doing the affidavit for me to cash-out my balance is unfair for me... I cashed-in money conveniently for me to use your service... Then you'll give me inconvenience in using my own money because of an unknown reason which you cannot give me details of? That's unfair! It is my account! I have the Right to Know! Nagpasok ako ng pera ng maayos, tapos papahirapan nyo ako... Pera ko naman yun... Buti po sana kung sagot nyo yung pang notarize at pamasahe ko pang luwas eh...

Provide me the specific activity/ies or transaction/s of my account and its underlying evidences before you hold my account... Don't tell me that you cannot disclose anything regarding it... Because that response will only tell me that you really have nothing against my account...

Provide me with what I am requesting - the specifics, or I'll let the BSP make their investigation regarding this...


Thank you.

Hi Kararens,

We completely understand that you want this to be clarified. I've gone ahead and checked your concern with our team. I'll be responding to you via email.

Best,
Pem