Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank

Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - Printable Version

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Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - shreder - Oct 25, 2022

A user had his Bitcoin Strike & Swan wallets frozen for donating to open-source software projects after Primetrust a bank flagged his transactions. This means they are actively monitoring and censoring users tx's.

If you had no idea Strike is also the ring leader behind the off-chain scamming I mean "scaling solution" for Bitcoin also known as the Lightning network. Both strike and swan are very popular wallets/purchasing applications for Bitcoin.

You can see my previous thread where I expose a Bitcoin "privacy" wallet for tracking and censoring users from using coin mixing services.

https://hackforums.net/showthread.php?tid=6218646

All this news is being brushed under the rug by banks.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - Goku - Oct 25, 2022

(Oct 25, 2022 10:04 AM)Focus Broken Wrote: Not your keys, not your coins. You don't have to trust any third parties with Bitcoin, everyone should move their coins off of exchanges.

True this.

I think that 80% of the current crypto community thinks that they have to use exchanges site & online wallets to use crypto, but you can literally use crypto in your CMD/Terminal and manage it yourself lol.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - PoLoW - Oct 25, 2022

(Oct 25, 2022 10:04 AM)Focus Broken Wrote: Not your keys, not your coins. You don't have to trust any third parties with Bitcoin, everyone should move their coins off of exchanges.

This is a lie, Wasabi cannot track their users. It has BIP157/158 blick filters to hide your addresses and Tor to hide your IP.

I guess people never learn, Why can't they use one of those decentralized exchange sites? Where you can keep your coins safe and exchange them in a blink of an eye? Swap apps are a good option but the fees are ridiculous.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - shreder - Oct 25, 2022

(Oct 25, 2022 10:13 AM)PoLoW Wrote: I guess people never learn, Why can't they use one of those decentralized exchange sites? Where you can keep your coins safe and exchange them in a blink of an eye? Swap apps are a good option but the fees are ridiculous.

Strike & Swan are pretty much the biggest boys on the block. He used strike to donate and it blocked him on other applications as well. Maybe he should have sent it off to his wallet first before doing the donation.

But do you think this is the point of my post? Jack mallers behind Strike is the ring leader of the "decentralized" lightning movement. Yet he'll let banks freeze your account on a whim on multiple platforms LOL for donating? That's like getting blocked on Coinbase, Gemini, Binance & more for donating to open-source projects from just Coinbase.

Not really a good look for the ecosystem. It is easy to blame the kid for not thinking to move funds to a non-custodial wallet. It's harder to blame the biggest Bitcoin players who are also working on the scamming... I mean "scaling" solutions of playing bank.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - SIM-1169085 - Oct 25, 2022

Well thank goodness it's been resolved.

[Image: 53pEfnV.png]

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - shreder - Oct 25, 2022

Realistically Strike/Jack mallers freezing accounts then preaching on how their off-chain solution is "decentralized" is comical.

That's like a bank freezing your account, then offering some other solution that they can freeze as well.

(Oct 25, 2022 10:32 AM)Chomies Wrote: Well thank goodness it's been resolved.

Strike never fixed it it took swan the other app he got frozen on by collateral damage to "fix" the issue. Realistically the issue was band-aided not fixed, make the same donation with Strike you'll get flagged and frozen on multiple apps.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - shreder - Oct 25, 2022

(Oct 25, 2022 10:40 AM)Focus Broken Wrote: The Lightning network isn't the same thing as Strike. Strike is an exchange that uses Lightning to send and receive funds, you don't have to use Strike in order to use Lightning.

I'm curious how you feel that strike is monitoring your tx's and account information and sending it off to their partner bank Primetrust.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - shreder - Oct 25, 2022

I don't know I aint the bank. There seems to be something worth monitoring since they flag donations to open-source projects.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - shreder - Oct 25, 2022

I think it's better to boycott these corrupt third parties who act like they are the face of Bitcoin like Strike and Jack mallers.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - shreder - Oct 25, 2022

I dont want to get my funds frozen at random.

I'd avoid anything Bitcoin lately. Everything in the Bitcoin ecosystem is getting censored, tracked, or frozen.

https://hackforums.net/showthread.php?tid=6225766
https://hackforums.net/showthread.php?tid=6218646
https://hackforums.net/showthread.php?tid=6121215

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - SIM-1169085 - Oct 25, 2022

I use strike only to buy Bitcoin because you can instantly buy it for zero fees and instantly send it to your hardware wallet after purchase.

Other apps you need to wait 5 days for the funds to clear from your bank.

Just bought another 0.05 Bitcoin this morning from Strike and it's already in my hardware wallet.

They have limits on deposits for example my deposit is only 1,000 dollars but you can email their support to get it extended. My deposits used to only be like 250 or 500$ I forget but I got it increased to 1,000.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - XMR - Oct 25, 2022

(Oct 25, 2022 12:00 PM)shreder Wrote: I dont want to get my funds frozen at random.

Then use an offline wallet.

(Oct 25, 2022 12:00 PM)shreder Wrote: I'd avoid anything Bitcoin lately. Everything in the Bitcoin ecosystem is getting censored, tracked, or frozen.

A small mining pool censoring transactions is irrelevant because any transactions that they don't confirm will eventually get confirmed by one of the many big ones that don't censor transactions. Unless an overwhelming majority of the bitcoin network decides to censor arbitrary transactions, the worst that would happen is a small confirmation delay.
The bitcoin ledger is entirely public; of course your money can be tracked. If you're worried about that then either mix your coins or use Monero.
The only people having their money frozen are the ones using online/hosted wallets. If you want to control your own money as opposed to having some website control it for you then use an offline wallet.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - shreder - Oct 25, 2022

(Oct 25, 2022 02:38 PM)Beau Wrote: Transaction monitoring in AML exists.

Nope. You cannot track the origins of funds on lightning beyond the final channel that sends it to your destination. If you are going to try to look smart at least do your research little man.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - shreder - Dec 6, 2022

(Oct 25, 2022 05:40 PM)Focus Broken Wrote: Yep, it seems the user is suspicious that he was suspended over sending coins rather than receiving them. I wonder why he didn't name the "open source project"?

What does it matter for what he donated to? He should not be subjected to censorship.

RE: Bitcoin Apps Strike & Swan freeze accounts over donations flagged by Bank - shreder - Dec 6, 2022

(Dec 6, 2022 08:13 PM)Focus Broken Wrote: It doesn't matter, I'm questioning why the user assumes the flag has anything to do with a previous donation at all. It doesn't make any sense that an account gets flagged for making donations.

Are you sympathizing with centralized parties known to censor at the whim of banks? Whatever he donated to is none of anyone's business. Especially not a company that prides itself on supporting a "decentralized" ecurrency. Jack Maller preaches decentralization, yet instantly locks accounts over a donation through his app. 🤮