A user claims to have been scammed of 700 XMR by Swapter after using it previously. Swapter cited "liquidity issues" but the user claims they never received promised emails from a manager.
Limited recent checks passed
Exchange more than 3000+ coins on all available networks, quickly and easily.
Swapter is an exchange service that accepts Monero and Bitcoin. It may request KYC during risk checks and has a score of 4/10. There are 2 user ratings averaging 3.5/5.
Scores
- Shotgun KYC
- May request KYC or block funds mid-flow, typically via AML checks, transaction limits, or liquidity partner rules. Refunds are subject to policies.
If an automated risk system flags a transaction, funds are frozen until KYC is completed via third-party provider SumSub. Users who decline KYC can usually receive a refund, unless illegal activity is suspected.
- Refunds may require KYC -3 -3
In some cases, especially when funds are flagged for AML risk, linked to suspicious activity, or hit blacklist/compliance checks, the service may require KYC or other personal information before processing a refund.
In some cases, especially when funds are flagged for AML risk, linked to suspicious activity, or hit blacklist/compliance checks, the service may require KYC or other personal information before processing a refund.
-3 Privacy-3 Trust - May Freeze or Seize Funds 0 -3
These services use internal checks to monitor for suspicious activity. If a transaction is flagged as suspicious, your funds may be frozen or seized. Sometimes they allow users to unlock funds by providing Source of Funds information, or KYC.
These services use internal checks to monitor for suspicious activity. If a transaction is flagged as suspicious, your funds may be frozen or seized. Sometimes they allow users to unlock funds by providing Source of Funds information, or KYC.
0 Privacy-3 Trust - Transaction monitoring -1 0
Deposits are analyzed for blacklisted sources. This service automatically scans transactions AML scores. Flagged transactions may require KYC/SoF verification to complete the trade or unfreeze funds. Resolution depends on the individual service's policy, as some may issue refunds without verification.
Deposits are analyzed for blacklisted sources. This service automatically scans transactions AML scores. Flagged transactions may require KYC/SoF verification to complete the trade or unfreeze funds. Resolution depends on the individual service's policy, as some may issue refunds without verification.
-1 Privacy0 Trust
- Shotgun KYC -15 0
May request KYC or block funds mid-flow, typically via AML checks, transaction limits, or liquidity partner rules. Refunds are subject to policies.
May request KYC or block funds mid-flow, typically via AML checks, transaction limits, or liquidity partner rules. Refunds are subject to policies.
-15 Privacy0 Trust - Service Termination Policy 0 -4
The service provider can terminate access to services at any time without notice, at their sole discretion.
The service provider can terminate access to services at any time without notice, at their sole discretion.
0 Privacy-4 Trust - Source code is private 0 -1
The service's source code is not public, so it cannot be reviewed or audited by the community. This limits transparency.
The service's source code is not public, so it cannot be reviewed or audited by the community. This limits transparency.
0 Privacy-1 Trust - Accepts Monero +5 0
This service accepts Monero, a privacy-focused cryptocurrency that provides enhanced anonymity.
This service accepts Monero, a privacy-focused cryptocurrency that provides enhanced anonymity.
+5 Privacy0 Trust - No registration needed +5 0
Users can access and use the service without creating an account. This enables a faster and more convenient user experience while also offering enhanced privacy and anonymity.
Users can access and use the service without creating an account. This enables a faster and more convenient user experience while also offering enhanced privacy and anonymity.
+5 Privacy0 Trust - Approved 0 +5
Passed limited recent checks and met our approval threshold. Read more about the listing statuses.
Passed limited recent checks and met our approval threshold. Read more about the listing statuses.
0 Privacy+5 Trust - Third-Party Liquidity 0 0
Swaps on this service use liquidity from a network of external, third-party providers. The service itself does not hold the liquidity pools.
Swaps on this service use liquidity from a network of external, third-party providers. The service itself does not hold the liquidity pools.
0 Privacy0 Trust - API available 0 0
An API is available for programmatic interaction with this service.
An API is available for programmatic interaction with this service.
0 Privacy0 Trust - JavaScript needed 0 0
The service requires the user to enable JavaScript in order to access and use its features.0 Privacy0 Trust - Base score +50 +50
Overall = 60% Privacy + 40% Trust (Truncated)
Terms of Service Review
Swapter is a cryptocurrency exchange that markets itself as generally anonymous, but employs an automated risk-scoring system that can freeze funds for shotgun KYC.
Automated KYC triggers
The service uses an automated risk-scoring system to monitor transactions. Flagged transactions are put on hold pending identity verification.
Reviewed from swapter.io/aml-kyc swapter.io/privacy-policy swapter.io/terms-of-use swapter.io/faq
ToS reviews are AI-generated and should be used as a reference only.
Events
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Ongoing since
Bitcointalk: Suspected 700 XMR Scam
SourceA user claims to have been scammed of 700 XMR by Swapter after using it previously. Swapter cited "liquidity issues" but the user claims they never received promised emails from a manager.
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Attribute added
Attribute "Service Termination Policy" was added to Swapter
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Verification update
Verification status changed from VERIFICATION_SUCCESS to APPROVED
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Verification update
Verification status changed from APPROVED to VERIFICATION_SUCCESS
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Description update
Description was updated
Evidence and Review History
Passed limited recent checks and met our approval threshold.
We made a service review in collaboration with Orangefren, the full review and test is available on the kycnot.me blog
- No review checks have been published yet
- Last review Nov 11, 2024
- Approved Nov 11, 2024
Verification proof
Comments
a user swapped BTC to Monero via Trocador/Swapter on May 31st. As of June 5th, and still haven’t received his Monero.
Added context: The user is refering to this reddit thread from 2024
I sent 700 XMR two months ago but the exchange is still incomplete. They keep giving excuses about issues with their liquidity provider. The admin can reach out to me for additional proof.