[WARNING] LBank froze my funds — scam behavior

[haver5547]

Hello everyone,

I’m writing this post in the hope that it helps resolve my issue and warns others not to deal with LBank. My problem has been ongoing for almost two months.

It all started when I was trading the token HYP on LBank. After selling it, I tried to withdraw over 2 ETH, but the withdrawal never went through. I noticed something suspicious was happening with the HYP token on the market, so I contacted support. They told me that my withdrawal had been frozen for 30 days for security reasons. At first, I stayed calm and waited.

But after 30 days — nothing happened. Then came the most absurd part:

LBank told me that in order to unlock my withdrawal, I needed to contact the HYP project team directly. This was the first time I’d ever seen a centralized exchange require users to contact a third-party project to unlock their own funds.

Still, I decided to comply and sent an email to the project on May 29. Today is June 9, and I still haven’t received any response from them.

Meanwhile, LBank stopped replying to my emails after June 3. I contacted their live chat today, and all they told me was to “wait for an email.” That’s it.

So here’s the current situation:
   •   I cannot withdraw my funds (more than 2 ETH).
   •   LBank support is ignoring me.
   •   They won’t explain what rules I supposedly violated, how long I need to wait, or what progress has been made.
   •   They are passing responsibility onto an unresponsive third-party project.

I have screenshots of all communications and will gladly provide them to forum moderators or admins upon request.

If anyone has experienced something similar or knows how to help — your input would be much appreciated.

Thanks for reading.

[coin-investor]

I’m writing this post in the hope that it helps resolve my issue and warns others not to deal with LBank. My problem has been ongoing for almost two months.

I have screenshots of all communications and will gladly provide them to forum moderators or admins upon

If you have all the screenshots of all communications and transaction details, then you have a strong case. You should create a thread or discussion here Scam section

Just follow the correct format in creating a discussion you can find an example of the format here
Scam Report Format (Use it to make scam reports properly)

I can't recall LBbank having an issue before. We will see after you create the topic, and the community responds. Maybe they also have a bad experience dealing with LBank

[logfiles]

Maybe you just have to wait for 30 days and see if they will fulfill their promise. It's not like you have any much choice. I know it will be a very painful experience, but then you are also going to learn a lesson never to use shit exchanges for trading. This is what happens, and the support won't help you even when you urgently need the transaction to be quickly processed.

[haver5547]

I’m writing this post in the hope that it helps resolve my issue and warns others not to deal with LBank. My problem has been ongoing for almost two months.

I have screenshots of all communications and will gladly provide them to forum moderators or admins upon

If you have all the screenshots of all communications and transaction details, then you have a strong case. You should create a thread or discussion here Scam section

Just follow the correct format in creating a discussion you can find an example of the format here
Scam Report Format (Use it to make scam reports properly)

I can't recall LBbank having an issue before. We will see after you create the topic, and the community responds. Maybe they also have a bad experience dealing with LBank

Thank you for the suggestion. I still want to believe that this isn’t an outright scam, even though the exchange has a low reputation in many places. I want to have hope that my funds will eventually be returned. Besides, I couldn’t find any official LBank representative here on Bitcointalk, so following the scam report format might not be very effective in this case.

Maybe you just have to wait for 30 days and see if they will fulfill their promise. It's not like you have any much choice. I know it will be a very painful experience, but then you are also going to learn a lesson never to use shit exchanges for trading. This is what happens, and the support won't help you even when you urgently need the transaction to be quickly processed.

The thing is — I’ve already waited more than 30 days. In fact, another week and it will be almost two months since I’ve been unable to withdraw my funds. I used LBank before to trade coins that were only listed there, and this time was no different — but unfortunately, they seem to have decided that I no longer need my money.

[Darker45]

Thank you for the suggestion. I still want to believe that this isn’t an outright scam, even though the exchange has a low reputation in many places. I want to have hope that my funds will eventually be returned. Besides, I couldn’t find any official LBank representative here on Bitcointalk, so following the scam report format might not be very effective in this case.

Probably not an outright scam considering that it has been in the market for a decade, never been hacked, no long period of sudden or unannounced inactivity, and so on, but then YoBit has been around longer, never been hacked either, and so on, but they're an outright scam.

As to the scam report, it remains effective. For one, if you want to formally warn the community, that's probably how to do it, with all the evidences. Otherwise, you're just giving your word. Also, what's discussed here could spread outside. Users here could also be X, Reddit, Telegram, Facebook users.

Anyway, best of luck to you. You're in a bad position, but if you really want to get your funds back, you're probably left with no choice but to constantly communicate with them, comply, and wait.

[nonlogs]

Hello everyone,

I’m writing this post in the hope that it helps resolve my issue and warns others not to deal with LBank. My problem has been ongoing for almost two months.

It all started when I was trading the token HYP on LBank. After selling it, I tried to withdraw over 2 ETH, but the withdrawal never went through. I noticed something suspicious was happening with the HYP token on the market, so I contacted support. They told me that my withdrawal had been frozen for 30 days for security reasons. At first, I stayed calm and waited.

But after 30 days — nothing happened. Then came the most absurd part:

LBank told me that in order to unlock my withdrawal, I needed to contact the HYP project team directly. This was the first time I’d ever seen a centralized exchange require users to contact a third-party project to unlock their own funds.

Still, I decided to comply and sent an email to the project on May 29. Today is June 9, and I still haven’t received any response from them.

Meanwhile, LBank stopped replying to my emails after June 3. I contacted their live chat today, and all they told me was to “wait for an email.” That’s it.

So here’s the current situation:
   •   I cannot withdraw my funds (more than 2 ETH).
   •   LBank support is ignoring me.
   •   They won’t explain what rules I supposedly violated, how long I need to wait, or what progress has been made.
   •   They are passing responsibility onto an unresponsive third-party project.

I have screenshots of all communications and will gladly provide them to forum moderators or admins upon request.

If anyone has experienced something similar or knows how to help — your input would be much appreciated.

Thanks for reading.

These shitty exchanges are getting out of hands now.

[haver5547]

If anyone’s interested — I finally got a response today. Here’s a screenshot of the email: https://iimg.su/i/XOkR6h
Once again, I followed their instructions and sent another email to the HYP project.

What remains a complete mystery to me is why a third-party project has any authority to decide whether or not I can withdraw my funds from the exchange. This situation is absurd.

[aioc]

If anyone’s interested — I finally got a response today. Here’s a screenshot of the email: https://iimg.su/i/XOkR6h
Once again, I followed their instructions and sent another email to the HYP project.

What remains a complete mystery to me is why a third-party project has any authority to decide whether or not I can withdraw my funds from the exchange. This situation is absurd.

Of course, the community is concerned. We want to alert the community if there are issues on one exchange. This is prevention and being proactive, but since they are still communicative, it's better to do what they ask of you if you can, so you can finally resolve the issue.

If you feel that you have been ignored and it's just going around, with no good results, then we have the scam section to alert the community. The scam section will alert investors to the status of the exchange, and it will also harm their reputation.

[Bitcoin Smith]

LBank, it's not a familiar name to me as an exchange.

I found many similar reports on reddit when I tried to find the user experience about the platform and almost each one of them claims the platform froze the withdrawal after making profits and give unacceptable reasons everytime when they try to contact the support team.

So in my opinion they're not an exchange just an outright scam.

[haver5547]

Okay, I’ll be posting updates here like a personal diary. Thank you to everyone sharing advice — I really appreciate it.
Today I received a new email from LBank where they gave me a different contact address for the project whose token I was trading, since I didn’t get any response from the previous one. I’m still doing exactly what they ask, and I’ve already sent a message to the new email.
Hopefully, these posts will be useful for anyone who faces a similar issue in the future.
Here’s a screenshot of what they sent me: https://iimg.su/i/JzqChQ

[SFR10]

What remains a complete mystery to me is why a third-party project has any authority to decide whether or not I can withdraw my funds from the exchange. This situation is absurd.

I'm not familiar with the token that you were trading and the platform in question, but once you've sold it and a certain amount was added to your account, that third-party project shouldn't have any control over your funds ^{[it's quite clear LBank is making excuses and I already saw your review (and other users) on Trustpilot, so I'm sure you already know what's their true nature (unfortunately)]}.

[haver5547]

What remains a complete mystery to me is why a third-party project has any authority to decide whether or not I can withdraw my funds from the exchange. This situation is absurd.

I'm not familiar with the token that you were trading and the platform in question, but once you've sold it and a certain amount was added to your account, that third-party project shouldn't have any control over your funds ^{[it's quite clear LBank is making excuses and I already saw your review (and other users) on Trustpilot, so I'm sure you already know what's their true nature (unfortunately)]}.

After LBank gave me a different email for the project, I finally received a response from them. So far, they just asked me whether I belong to the HYP community or if I’m just a token holder. I replied that I was just a holder — and that’s it for now.

Yes, you’re right about the reviews regarding LBank, but I had traded on it several times before and never had any issues. The problems only started because of this particular token.

[SamReomo]

Yes, you’re right about the reviews regarding LBank, but I had traded on it several times before and never had any issues. The problems only started because of this particular token.

When you read a good number of negative reviews about a service then it's better to not take any risk of using that service. If you were aware that they have done such shady things with other users then that was a better chance to move away from such a shady service.

I've not used it myself so I won't be able to tell you anything about it but it's a general rule to avoid all risky and shady services. That's why on this forum we always suggest every one to avoid 1xBit as that's a shady casino and members of the forum are aware about the shady activities of that casino.

[robelneo]

After LBank gave me a different email for the project, I finally received a response from them. So far, they just asked me whether I belong to the HYP community or if I’m just a token holder. I replied that I was just a holder — and that’s it for now.

Yes, you’re right about the reviews regarding LBank, but I had traded on it several times before and never had any issues. The problems only started because of this particular token.

Are they aware of the existence of this discussion? If they value their reputation and want to acquire more clients, this is their opportunity to address this issue promptly, providing a clear and concise answer on how to proceed to unfreeze and withdraw your funds.
You did the right thing not to escalate it to a scam accusation until you are not satisfied and you think they are not serious about recovering your funds.
Update us on any developments, and be prepared to take action if you ever feel that they want to retain your funds.

[The Cryptovator]

LBank is one of the saddest exchanges ever. I have seen a couple of projects listed on LBank that I was involved with marketing. They charge quite high, but they don't have enough users to provide liquidity. So the team just lost thousands by listing their token there. There was no volume from the exchange side. So I believe they have a liquidity issue; hence, they aren't giving you your withdrawal.

You have traded on their exchange, not with token teams. They are the ones who are holding your funds, so why should you talk with the token team? They are the ones responsible if the token is a scam. They shouldn't disable withdrawal for ETH for the tokens. This isn't the purpose of crypto trading. We can't contact each team to withdraw our funds after the trade. Just create a scam accusation with all the screenshots.

[Darker45]

Okay, I’ll be posting updates here like a personal diary. Thank you to everyone sharing advice — I really appreciate it.
Today I received a new email from LBank where they gave me a different contact address for the project whose token I was trading, since I didn’t get any response from the previous one. I’m still doing exactly what they ask, and I’ve already sent a message to the new email.

It seems the communications between you and LBank are going smoothly. I hope it goes on like this until your withdrawal is allowed and you get your money back. It's in the thousands of dollars. It's a significant amount. 

Although, it's still a curious case and I'm still wondering why they had to drag the project into the problem especially because you've already traded your coins to ETH, at least they're now assisting you somehow rather than plainly ignoring you.

[haver5547]

[/quote]

When I was talking to their support team, I told them that I saved all our correspondence and that I would make the issue public. But since they don’t have a representative on the forum, they simply don’t care about what I write here.

LBank is one of the saddest exchanges ever. I have seen a couple of projects listed on LBank that I was involved with marketing. They charge quite high, but they don't have enough users to provide liquidity. So the team just lost thousands by listing their token there. There was no volume from the exchange side. So I believe they have a liquidity issue; hence, they aren't giving you your withdrawal.

You have traded on their exchange, not with token teams. They are the ones who are holding your funds, so why should you talk with the token team? They are the ones responsible if the token is a scam. They shouldn't disable withdrawal for ETH for the tokens. This isn't the purpose of crypto trading. We can't contact each team to withdraw our funds after the trade. Just create a scam accusation with all the screenshots.

You’re absolutely right — and that’s the biggest mystery to me as well. Why, when I’m using an exchange to trade tokens, am I the one who has to contact the projects whose tokens are listed there? It’s pure idiocy. I just hope they won’t ask me to write to Vitalik Buterin next, just because I want to withdraw my ETH.

Okay, I’ll be posting updates here like a personal diary. Thank you to everyone sharing advice — I really appreciate it.
Today I received a new email from LBank where they gave me a different contact address for the project whose token I was trading, since I didn’t get any response from the previous one. I’m still doing exactly what they ask, and I’ve already sent a message to the new email.

It seems the communications between you and LBank are going smoothly. I hope it goes on like this until your withdrawal is allowed and you get your money back. It's in the thousands of dollars. It's a significant amount. 

Although, it's still a curious case and I'm still wondering why they had to drag the project into the problem especially because you've already traded your coins to ETH, at least they're now assisting you somehow rather than plainly ignoring you.

If it were just a couple hundred dollars, I wouldn’t even bother or go through all this hassle contacting third-party projects like they’re asking. But since it’s 2.5 ETH, I believe it’s absolutely worth fighting for — even though this whole situation clearly violates my rights as a user of the platform.


Here’s my conversation with the project, by the way: https://iimg.su/i/635cxW
As you can see, their responses are extremely slow, and I’m worried that at this pace, it’s going to take a very long time to resolve my issue.

[Rikafip]

I have to say that I never saw something like this, centralized exchange asking their user to contact the issuer of the token in order to get be able to withdarw the monwey. Like what the fuck?

Was there something dodgy going on with the token, like some hack or something so that's why they are telling you to contact the team?

[haver5547]

I have to say that I never saw something like this, centralized exchange asking their user to contact the issuer of the token in order to get be able to withdarw the monwey. Like what the fuck?

Was there something dodgy going on with the token, like some hack or something so that's why they are telling you to contact the team?

I’m not aware of any hacks related to the token or anything like that — I’m not part of their community and was never a dedicated holder. I simply bought the token and, after a short time, decided to sell it at a better price. So unfortunately, I don’t have any specific information on that. But judging by the fact that the token is still trading on the exchange, I assume nothing major happened.

[examplens]

LBank is one of the saddest exchanges ever. I have seen a couple of projects listed on LBank that I was involved with marketing. They charge quite high, but they don't have enough users to provide liquidity. So the team just lost thousands by listing their token there. There was no volume from the exchange side. So I believe they have a liquidity issue; hence, they aren't giving you your withdrawal.

You have traded on their exchange, not with token teams. They are the ones who are holding your funds, so why should you talk with the token team? They are the ones responsible if the token is a scam. They shouldn't disable withdrawal for ETH for the tokens. This isn't the purpose of crypto trading. We can't contact each team to withdraw our funds after the trade. Just create a scam accusation with all the screenshots.

You’re absolutely right — and that’s the biggest mystery to me as well. Why, when I’m using an exchange to trade tokens, am I the one who has to contact the projects whose tokens are listed there? It’s pure idiocy. I just hope they won’t ask me to write to Vitalik Buterin next, just because I want to withdraw my ETH.

Is that token even listed on the Lbank platform, in terms of the technical part? I saw earlier that some exchanges had certain tokens listed, but later it turned out that it was only numbers.
Can you check if it is even possible to deposit/withdraw HYP token?