In recent months, Changelly—a popular crypto swap and exchange service—has come under intense scrutiny over its Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, sparking widespread frustration among users who claim their funds have been effectively “locked” or delayed for months.
Traditionally, Changelly has marketed itself as a convenient way to swap cryptocurrencies without extensive identity verification. In many cases, users can perform low-risk swaps without submitting personal documents, making it appealing for traders who value privacy or want a quick exchange. However, once a transaction is flagged for potential compliance risk, the platform does require deeper KYC/AML checks for security and regulatory reasons.
The Core of the Problem: Funds Frozen After KYC Requests
A growing number of users report a troubling pattern: after initiating a swap—sometimes for relatively large amounts—the transaction gets held pending KYC verification. They complete every required step, Changelly kyc issue including ID submission, selfies, liveness checks, and even proof of source of funds, yet their funds remain inaccessible for months. Reports describe delays extending beyond five months, with little more than automated “under review” responses from support.
One ongoing issue highlighted across forums and user reports is the lack of transparency. Affected traders say they have complied with documentation requests but receive no clear explanation for continued hold statuses or realistic timelines for resolution. Some users resort to repeated emails and community calls for legal advice after receiving only vague replies.
User Sentiment and Community Backlash
Community boards, petitions, and review sites are witnessing an influx of complaints. Many claim Changelly’s KYC process traps users in an endless loop, withholding funds without justification. In some cases, users accuse the exchange of exploiting AML regulations as a pretext to delay or avoid returning crypto.
On review sites such as Trustpilot, frustrated users allege that transactions put on hold after swap execution create a “trap” where KYC is suddenly non-optional, even if it was advertised as optional at sign up. Critics argue this contradicts the initial promise of an easy, no-KYC swap experience.
Some community members speculate that artificially positive posts and reviews might be circulating, possibly from automated or promotional accounts, to counter the wave of negative sentiment. This further erodes trust and amplifies user skepticism.
Regulatory Context: Balancing Compliance With User Trust
It’s important to understand why KYC and AML policies exist: global regulators require financial services, including crypto platforms, to verify users’ identities to prevent fraud, money laundering, and other illegal activity. Exchanges like Changelly use automated risk-scoring systems that trigger deeper checks for certain transactions.
However, critics say security cannot come at the cost of accountability. Clear communication, realistic timelines, and responsive support are essential for maintaining user trust—especially when millions of dollars in crypto are involved.
Looking Forward
As these complaints grow louder, many users are urging Changelly to improve transparency and streamline KYC processes. Whether arguing for clearer policies or considering regulatory or legal action, the community’s response underscores a broader debate in crypto: how to balance regulatory compliance with user experience in a way that protects both traders and the integrity of the market.
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