This policy sets out how Exwallets prevents money laundering and terrorist financing, how customers are identified, and how orders are reviewed. Its purpose is to keep Exwallets and its customers away from illegal activity.
Every order can be reviewed before it is completed. A customer may screen a cryptocurrency wallet with their own AML tool before sending funds. If the desk finds that the overall AML risk is above 55%, the order can be paused. Funds can then be returned to the sender, less the network cost of that return.
What AML means
AML is the set of checks used to stop money laundering and the use of funds that come from crime. The check is there so an exchange stays transparent and the assets have a lawful origin.
How screening works
Exwallets reviews the origin of funds and watches for activity that does not fit a normal exchange. The desk can ask for more information before an order moves ahead.
Who we do not exchange for
Exwallets does not accept funds, and does not complete an order, when the source is a high-risk platform or a source tied to sanctions, crime, or hidden transfers.
High-risk sources include, among others: Black Sprut, BTC-e, ChipMixer, DuelBits, FreeBitcoin, Gandhiji.io, Hydra, NVSPC, Roobet, Tornado, Tornado Cash, WEX Exchange, Yolo Group, OMG!OMG!, Garantex, Commex, 1xBit, Blender.io, Lazarus Group, Genesis Market, Shinbad.io, MEGA DARKNET MARKET, Primedice, Darknetone, Wasabi Wallet, DuckDice, Doubleway, Stake, Bitzlato, Bitpapa.com, NetEx24.net, Trocador.app, Anonexch.io, Cryptomus, nobitex.ir, meer.kg, 1xbet, Aifory.pro, terminal.cash, SkyCrypto.net, FlashObmen.com, 60cek.net, hd-change.com, CoinBlinker.com, Metka.cc, AlfaBit.org, Heleket, heleket.com, payeer.com, Vexel, FunPay, WebMoney, FreeKassa, freekassa.ru, Yobit, exmo.com, exmo.me, Crypto Cloud, CryptoCloud, Cripta, BitBits, Nix Money, Bixter, kassa.cc, CoinStart, Prostocash, arvix.pro (abcex.io), xRocket.tg, weiss.bet, Sinbad, Huobi Global S.A. (HTX.com), Cryptobar, MEXC-Exchange (formerly MXC-Exchange), Capitalist, and Rapira.net.
Orders are also refused when they connect to stolen coins, fraudulent exchanges, or terrorism financing.
When an order is assessed, these risk categories are considered: Sanctions, Terrorism, Darknet, Ransomware and malware, Mixing, Child abuse, Stolen funds, Scam and fraud, Protocol privacy, Bridge, Decentralized exchange, and Gambling.
1. Terms
Exwallets is a manual exchange desk. A customer chooses what to send and what to receive. The desk reviews the order, posts the only account that should be paid, and completes the exchange off the card checkout of this website.
A user is a person who opens an account or places an order.
Cryptocurrency is a digital asset recorded on a blockchain.
Electronic currency is value held in an electronic wallet or payment system, such as PayPal.
A bank transfer is a payment through a bank account. Cash is physical money handled under the instructions posted inside the order.
Money laundering is any act that hides the criminal origin of funds and makes them look lawful.
Terrorist financing is providing, collecting, or moving funds or other resources to support terrorism.
2. Purpose of this policy
This policy exists so that:
- Exwallets is not used for illegal payments or any activity that breaks the law.
- Orders follow applicable rules on money laundering and terrorist financing.
- Customers have a clear, careful process, and the desk can refuse an order that creates a serious legal or financial risk.
3. How the policy is applied
3.1. Prevention
The desk identifies the customer and can ask for proof that the funds have a lawful origin. Orders are reviewed for signs of suspicious activity.
3.2. Identification
The customer must give accurate, current contact details. Exwallets keeps that information for the exchange and does not publish it. Personal details are not sent to an outside AML vendor as a way to identify the customer. A blockchain review, when one is used, looks at wallet addresses and transaction identifiers.
3.3. Transaction review
The desk can:
- Compare the order with the way the account has been used.
- Pause an order while documents or an explanation are requested.
- Look at where digital assets came from.
3.4. Higher risk scores
If an automated or manual review shows an overall risk above 55%, and the funds connect to a high-risk source listed in this policy, Exwallets can pause the order.
The desk can then ask for identity checks and documents that show where the funds came from.
After that review, the funds can be returned to the sender, less the blockchain network fee. A return can take up to 7 business days.
If extra costs are actually incurred to make the return, they can be deducted from the amount returned. That deduction is limited to the lower of 5% of the amount or 100 US dollars.
The desk decides whether the order continues, using the review and the circumstances of the payment.
3.5. High-risk sources
Exwallets can pause an order, or refuse to use the funds, when they come from an exchange, payment service, or other platform treated as high-risk or listed under sanctions.
The names in this policy are examples. They are not a closed list. The desk can add or remove sources as sanctions and monitoring change.
An elevated risk can also apply to:
- Parties connected with sanctioned jurisdictions.
- Tools built to hide the sender, the recipient, or the origin of digital assets.
- Any other service where there is a serious sign of illegal activity.
3.6. Returns after an AML hold
If the risk score is above 55% and the funds connect to a high-risk source, the order can be paused and the funds returned to the sender, less the network fee.
If the risk score is above 75%, the desk can ask for more documents before a return is arranged. Those documents can include:
- A photo of a valid identity document.
- A photo of the customer holding that document.
- Evidence of where the funds came from.
When an order is paused for this reason, the extra review can take up to 24 hours.
3.7. If the customer will not complete a check
If the customer will not provide the documents the desk asks for, Exwallets can:
- Hold the funds for up to 30 business days while the order is examined.
- Hold the funds for up to 90 business days where there is a direct link to terrorism, an open criminal case, or a category such as stolen funds, a hack, scam or fraud, ransomware, a darknet market, black-market services, terrorist financing, or malware wallets.
- Pass the relevant material to a competent authority when the law allows it.
This policy does not allow funds to be held without an end date.
4. What the desk can do
To apply this policy, Exwallets can:
- Pause, refuse, or limit an order when activity looks suspicious or the AML risk is high.
- Ask for documents, a video check, or another confirmation of identity.
- Tell a competent authority about a suspicious order when there is a legal basis to do so.
- Return funds only to the account or wallet they came from, and stop serving the customer.
If a third party, such as an exchange or wallet, blocks the funds, the customer must contact Exwallets to start a return. If no return request arrives within 6 months of the block, the desk can choose how the return is made. The return can be in USDT or in the same digital asset. The rate can be the rate on the day the order was opened, or the rate on the day of the return. The desk chooses which rate applies.
A question about the origin of funds is asked when there is a real reason, including a link to stolen funds, a sanctioned address, or terrorist financing. Information can be shared with a financial intelligence unit or a law-enforcement authority.
5. Acceptance
Opening an account, or placing an order, confirms that the customer has read and accepted this policy.
Pay only the account posted inside the order. Ignore payment instructions that arrive by email, Telegram, or any other channel.
Questions about this policy can be sent to [email protected].