Swan BTC “Paused” Withdrawals - NYKNYB 🤷♂️ 
Discussion
As I know, they have problem with storing bitcoin. The current company wants money from them and Swan move coins to different place.
100% True NYKNYB
OH SHIT!
Danger Will Robinson!
👀
"We care about your security".. 👀
Does it sound familiar? Not your keys..
Swan called out Fortress Trust for charging their customers an admin fee so fortress resigned leaving them hanging out to dry is how I understand the situation
I believe it’s the other way around. Fortress, resigned, and then charged the fee for moving the funds to a new custodian.
Dang
Could be nothing... but you might want to grab your coins before you hear about it on nostr:npub10uthwp4ddc9w5adfuv69m8la4enkwma07fymuetmt93htcww6wgs55xdlq
nostr:note1cdyf2zxhr93wat25gg5mjwq09p4d0l22g2ehpsklkys769xcuhsqd5axdh
The on/off ramps into BTC are still being heavily gated to the degree that individuals are blocked from making sizable purchases.
For instance, if I want to purchase 1 BTC using a N0-KYC method I'm not sure if that is possible. One could use RoboSats or Bisq to make smaller purchases.
Anyway, this is likely what forces most into using KYC methods to purchase BTC.
Facts
I will sell you 1 BTC no KYC if you pay up front.
You don't want to pay up front, which is why it should be broken down into smaller amounts for each trade 🤙
If I tried to use any bank to send some random anon 100k USD there will be bells ringing all along the AML dept, wire blocked immediately and serious questions to be answered. Cash is impossible. How could I get a briefcase of cash?
Honestly I do not see any way to buy even 0.5BTC non KYC in single transaction.
Pleb is left buying 1-2 million sats at once.
If they refused to wire the money, you could withdraw the cash.
However, if you would insist on going to all this trouble to prove a whole Bitcoin can be bought at once without breaking it down into smaller parts, I would have to charge you an insanity tax on top of the normal price of a Bitcoin. Let's say a total of $100,000.01
Fair enough
😎
Oh boy. First a custodian switch and now this?
Is this for the old custodian account or the current one?
not your key not your coin
nostr:note1cdyf2zxhr93wat25gg5mjwq09p4d0l22g2ehpsklkys769xcuhsqd5axdh
Not your keys not your coins
Swan is a poorly managed company. It’s a shame.
"no need to worry" 🫠
🤣 🤣 🤣
@cory excuse me?
Had this happen when an A/CH deposit didn't clear once. Swan is essentially extending short term credit for smash buys so they are scammable on timelines of ~1 wk.
Don’t worry though
There’s been something fishy about nostr:npub1tftc33ttam85wraffce62cgtvvjrmttquqlv6a0agtfm5nl4vues82xar5 for quite some time