Bank account suspended as a result of Bybit transaction

[CryptSafe]

Comrades, information just reaching me now that bank accounts of Bybit traders are being blocked because of a p2p trader by the name Joropay, who likely buys tokens with questionable funds via the bybit p2p platform. A few account holders have complained of the same issue today, and from the looks, the blockage of accounts occurred today.

An account holder whose microfinance bank account got suspended today said he did a transaction last with the above-mentioned name before he had such an experience, and has not done any p2p transaction for the past few days. This invariably means that the Bybit trader used funds that seem questionable in dealing with vendors on the Bybit platform.

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

[Bright0515]

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

I don't know much about bybit but through the countless topics raised on behalf on the p2p scams on bybit I know that there are many scammers on the bybit exchange. If anybody is a victim of this incident they all have to complain to the customer service. If they provide solid informations and proof, the issues will be resolved, even though it may take a while.

[Karl_3000]

The people that are affected should give the person a negative review and state the reason there so that anyone that want to do p2p transaction can see the review and stay away from him.

The second thing they should do is to report the person individually to Bybit. This can help Bybit to freeze the person's account fast. The person will still be traced and it will be good if he used his real identity document for verification so that he can be taken down.

[CryptoHeadlineNews]

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

But if I may ask, did the p2p trader input any phrase relating to crypto or Bitcoin in the transaction description? Because I think that has always been the common issue that has made banks suspend accounts before. So I will be very glad to clearly understand what actually transpired there, because one trick I have always observed p2p vendors used is to always indicate that they don't make payment or received payment from third parties during p2p (i.e the account you are sending funds from, must has the same name with your account) to prevent fraud. But however, with this, I think it's high time people become extremely careful this days while transacting on exchange, as it's always advisable you trade with only vendors with over 1000 trade and above.

[Charles-Tim]

But if I may ask, did the p2p trader input any phrase relating to crypto or Bitcoin in the transaction description? Because I think that has always been the common issue that has made banks suspend accounts before.

It is advisable not to label the transaction with anything related to crypto but I do not think this is the reason the bank is blocking people that are making transaction with the person. Many people are using Bybit and it will also be used by many scammers. But without any link in the OP, we do not know how true this information is. If it is true, the buyer may be linked to illegal activities.

[Nathrixxx]

Snip

We don't know what these people want from us, but I detect that the user is a scammer and anyone he transferred funds to will be blocked by the bank, therefore I will advise that we should leave a negative review on the user to prevent ourselves from making transactions with him, he must have scammed other people and wanted to buy or sell crypto with the fund and they are tracking upon every transaction he does, let's beware, thanks CryptSafe for sharing us this useful information.

[CryptoHeadlineNews]

But if I may ask, did the p2p trader input any phrase relating to crypto or Bitcoin in the transaction description? Because I think that has always been the common issue that has made banks suspend accounts before.

It is advisable not to label the transaction with anything related to crypto but I do not think this is the reason the bank is blocking people that are making transaction with the person. Many people are using Bybit and it will also be used by many scammers. But without any link in the OP, we do not know how true this information is. If it is true, the buyer may be linked to illegal activities.

Yes, it's true that with half-baked information O.P gave in this thread above, it's actually hard to be able to directly point what could have caused the blockage of bank accounts he claimed was caused as a result of Bybit transaction. Because, normally with the high rate of crime wey dey go on for different parts of the country, such as kidnapping and e.t.c. we don't know if the account was reported to have received fund from an account linked to crime or fraud, or it was actually crypto related. However, there have always been many complaints of people having issues with Bybit. But let's wait to see if O.P can be able to enlightened us more on what actually happened.

We don't know what these people want from us, but I detect that the user is a scammer and anyone he transferred funds to will be blocked by the bank,

I actually don't use Bybit, but can you share a screenshot of his account here, so that others can always avoid him. Because I'm very sure with a picture of it, it will be very easy for newbies here to recognize him very quickly

[Ambatman]

Could you help out with sharing the source. But I couldn't find it online.

I wish Bybit could have a complaint option for vendors who transact with questionable funds

what do you consider questionable funds?
And how can one know they are been sent questionable funds
It's not like it's written in it that "I'm questionable" .


This shows how powerful banks are over one's funds. In this like these even if the cause is genuine
Innocents are still hurt.  

[Charles-Tim]

what do you consider questionable funds?

Definitely he meant funds from illegal activities which can lead to what OP is posting about here.

[Amphenomenon]

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

But if I may ask, did the p2p trader input any phrase relating to crypto or Bitcoin in the transaction description? Because I think that has always been the common issue that has made banks suspend accounts before. So I will be very glad to clearly understand what actually transpired there, because one trick I have always observed p2p vendors used is to always indicate that they don't make payment or received payment from third parties during p2p (i.e the account you are sending funds from, must has the same name with your account) to prevent fraud. But however, with this, I think it's high time people become extremely careful this days while transacting on exchange, as it's always advisable you trade with only vendors with over 1000 trade and above.

The username of the buyer likely have that name of the buyer bank details because this is the criteria for adding bank account, if i remember correctly.

The thing is we just have to be careful but this is really difficult,if only there was a database from the federal government things would have been better. This is actually unfair but unfortunately we don't have much we can do now, hopefully we don't become the victim(s) on God.

[Ambatman]

what do you consider questionable funds?

Definitely he meant funds from illegal activities which can lead to what OP is posting about here.

I know he meant illegal, just don't know what illegal he was talking about.
It could be from a ransom, phishing or mostly likely (scam) yahoo?
And the user is under investigation so accounts that he sent to are been blocked?

[Localhostspeed]

The people that are affected should give the person a negative review and state the reason there so that anyone that want to do p2p transaction can see the review and stay away from him.

The second thing they should do is to report the person individually to Bybit. This can help Bybit to freeze the person's account fast. The person will still be traced and it will be good if he used his real identity document for verification so that he can be taken down.

Negative review wouldn't solve anything, it wouldn't bring back lock account but maybe it will protect other users that are yet to do transactions with him. One thing isn't clear about this suspect, from the look of things, I think the guy must have done a fraudulent transaction with either a stolen funds or related scam and now the bank are trying to do control damage by locking every accounts connected with his account.

This is one of the reason why we should look accounts before making transactions with them. Don't do transaction when the name and the Bybit user aren't the same. It will protect you from all this kind of problem. Don't even be surprised that he doesn't own that account affected.

[igebotz]

I don't know much about bybit but through the countless topics raised on behalf on the p2p scams on bybit I know that there are many scammers on the bybit exchange. If anybody is a victim of this incident they all have to complain to the customer service. If they provide solid informations and proof, the issues will be resolved, even though it may take a while.

OP is talking about blocked bank account so there's literally nothing Bybit can do to help in this case. Transaction was marked as successful on their platform and that's what matters to them.

I know he meant illegal, just don't know what illegal he was talking about.
It could be from a ransom, phishing or mostly likely (scam) yahoo?
And the user is under investigation so accounts that he sent to are been blocked?

There's no such thing as Yahoo money - it could be a stolen bank logs being flagged, it could money from tracked accounts where illegal or kidnapped ransom was paid to.

We can't be careful enough, we just need some luck on our side.

[Karl_3000]

There's no such thing as Yahoo money - it could be a stolen bank logs being flagged, it could money from tracked accounts where illegal or kidnapped ransom was paid to.

You have a good point and examples but kidnappers in Nigeria are very wise, they prefer the money to be in cash. But some people can put a tracker inside the money so that it can be used to track the kidnappers. Most people prefer not to involve the police but give the kidnappers the money they want after negotiations.

[Tungbulu]

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

But if I may ask, did the p2p trader input any phrase relating to crypto or Bitcoin in the transaction description? Because I think that has always been the common issue that has made banks suspend accounts before. So I will be very glad to clearly understand what actually transpired there, because one trick I have always observed p2p vendors used is to always indicate that they don't make payment or received payment from third parties during p2p (i.e the account you are sending funds from, must has the same name with your account) to prevent fraud. But however, with this, I think it's high time people become extremely careful this days while transacting on exchange, as it's always advisable you trade with only vendors with over 1000 trade and above.

These were my first guess too to why those accounts were suspended. Some have only been around in the crypto space only for a little while and not all of them understand the implications of including crypto related phrases in bank transactions so I believe that must have been the first reason, but if it’s not, then we can look at the p2p merchant sending from a fraudulent or malicious account. Or it could also be that the account name has been flagged by banks which may cause any account that comes in contact with the account to also get affected.

[Asiska02]

An account holder whose microfinance bank account got suspended today said he did a transaction last with the above-mentioned name before he had such an experience, and has not done any p2p transaction for the past few days. This invariably means that the Bybit trader used funds that seem questionable in dealing with vendors on the Bybit platform.

I wish Bybit could have a complaint option for vendors who transact with questionable funds, so one could go straight to that option and complain if they have their accounts suspended as a result of the transaction on their platform through any buyer.  It could help them evaluate transactions on their platform and possibly penalise such vendors for their actions.

The is very bad and calls for urgent attention to Bybit Nigeria to address the issue. Since this is affecting only Nigerians, reporting to the dedicated team in charge of Bybit Nigeria will be the best approach for it. I have had issues in the past where I get to complain about my account on an exchange through their community on telegram. If Bybit have such a community, the issue can be raised there to serve as awareness to other members there and their representative in charge can escalate the issue to be resolved right away.

For the meantime, it is better one not engage in selling coins from any name even similar to the name on the platform. It is time they introduce buttons that you can easily search on a merchant and block them up straight away to avoid any mistake trading with them even in the future.

[Africolo]

The is very bad and calls for urgent attention to Bybit Nigeria to address the issue. Since this is affecting only Nigerians, reporting to the dedicated team in charge of Bybit Nigeria will be the best approach for it. I have had issues in the past where I get to complain about my account on an exchange through their community on telegram. If Bybit have such a community, the issue can be raised there to serve as awareness to other members there and their representative in charge can escalate the issue to be resolved right away.

Even if concerns are being raised Bybit cannot know the kind of money we all have in our Naira account and there's no way to check which is tainted and which is not. This kind of scenario happens once in a while it's not a a reoccurring thing.

The victims should visit their banks to find out reasons why their accounts were frozen and try to have them fixed.

For the meantime, it is better one not engage in selling coins from any name even similar to the name on the platform. It is time they introduce buttons that you can easily search on a merchant and block them up straight away to avoid any mistake trading with them even in the future.

Vendo search feature would be unfavorable to some small traders. The current system is better.

[SmartGold01]

This is another problem trading on p2p with a random user whom you don't know their source of funds or origine of their funds. Most times it's hard to to actually detects and Factor out whether their transactions and money are legitimate or stolen funds because when an investigation is being carried out all those accounts who transacted with that user could get penalized for Interacting with that account.

[knowngunman]

There's no such thing as Yahoo money - it could be a stolen bank logs being flagged, it could money from tracked accounts where illegal or kidnapped ransom was paid to.

We can't be careful enough, we just need some luck on our side.

It might be that the person reported the transaction as discussed in this thread Yet, Another Scam Method. One's account can get frozen without a response from you within the stipulated time after they reported the transaction.

Recently, innocent people account were blocked just because they received money from someone that took loan from Palmpay and refused to pay back. I don't know who's responsible for that between Palmpay and CBN or regulatory bodies but they follow up, trace the transaction and blocked all accounts involved. I was once a victim and up till today I'm not longer able to use that account again. Perhaps, that might be the case here, who knows.

I don't know which bank is involved in this case but if it has anything to do with Palmpay, it's definitely what I'm thinking. Personally, I'm not always comfortable dealing with people using Palmpay in any exchange. Bybit normally pop up a message warning users to be careful with Palmpay once you visit their P2P page.

[Agbamoni]

OP have you heard of dirty Naira? This is similar to it.

I would've  posted about the dirty Naira which is probably the reason why the accused account was frozen. Many folks are now selling dirty Naira on Bybit. And these Naira are called dirty because one or more fraudulent activity is connected to the money.

Yeah, what they do is that they buy Bybit account of one Aboki, they go steal the money, then use the account to sell the Naira and take USDT which will be sent later to their main account.