Trocador Reviews 265

Reply from Trocador

Updated Feb 21, 2025

Dear client,

When you approached our customer support team to complain of your funds being halted, our team quickly reached out to the provider to understand the reason for the halt and expedite a solution. It quickly became obvious that the funds you sent to the provider's deposit address had a very high risk marker for dark-market activities (100% high risk - the worst case scenario on an AML check). This is a flag AML systems use to identify riskier funds. All our listed providers operate in their own jurisdictions, and some of them have compliance requirements (set by government regulation) which completely prevents them from processing transactions with high AML risk. For exceedingly high risk, they can even be prevented from refunding without KYC or Source of Funds.

We respect our listed providers' compliance requirements, whilst recognising that this can be a serious issue to customers who are afraid of false positives in this regard. This is why we were among the first aggregators in making an explicit KYC rating each of our listed providers, and we openly display this to all our users BEFORE they even select their providers. You selected a provider which has such stringent requirements.

It might very well be the case that you are not related to any illicit activities, but your funds might have been received from a third-party who is.
Even though your funds are clearly marked as high risk, we coordinated with the provider to understand the requirements, and tried to facilitate the funds recovery process. However, you chose to ignore the provider's requirements, and attempted to claim a refund from our Guarantee.
Our Trocador Guarantee policy states:
"Trocador offers a guarantee that if for some reason the third-party exchange that handles the user's transaction fails to either complete the transaction or refund the user and does not provide Trocador sufficient proof of unusually high AML risk or that it was blocked by their Liquidity Provider's AML system, Trocador will reimburse the user up to the insured amount."
Your funds were clearly shown to be unusually high in AML risk, and we shared that information with you.

The reason we exclude such funds from our Trocador Guarantee is that if we didn't, any malicious party could send tainted funds to a provider, have the funds blocked, and claim a refund from us, effectively using us to launder money. I hope it's obvious why we can't do that.

For users who might be concerned about shotgun KYC and selective scams, we state the following: Whereas we can't vouch for the operation of any of our listed providers outside of their partnership with Trocador, we actively monitor all our listed providers to prevent our customers from being targeted with such practices. And we would delist any provider engaging in such practices with our customer base, who we value above all else. All the currently listed providers have continued to show good practices with our customers.