Consumer complaint received 2022-02-02
Company: BAM Management US Holdings Inc.
State: FL
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Money was not available when promised

Complaint:
Apparently, this company is insane. The exchanges below are absolutely circular and illogical. They went from saying it would cost me an amount in Bitcoin to fix the problem and me putting that amount into my account. They then said it would take " two weeks '' from XX/XX/XXXX to " retrieve my assets. '' Now, we return to the very beginning of this almost half a year nonsense to them scribbling the same gibberish they did at the beginning. It is almost like they are just making things up hoping that the problem will just go away. What happened to the two weeks to retrieve my assets. How can I financial institution operate this way? They stated to pay the Bitcoin and that they would return my assets in two weeks and now I get some regurgitated nonsense. See the exchange below for a further journey down the path of insanity. 


XX/XX/XXXX XXXX XXXX, BAM Trading Services Inc. d/b/a Binance.US ( " BAM Trading '' ) is in receipt of your complaint to the Consumer Financial Protection Bureau XXXX XXXX CFPB XXXX ). As you are aware, BAM Trading 's Customer Service representatives have been working with you to resolve the issue that you are experiencing with the recovery of your assets. Please continue to communicate with them and provide them with the information that they request. We regret any inconvenience that you have experienced. Thank you for your courtesy in this matter. Best regards, Complaints Team at BAM Trading XX/XX/XXXX XXXX XXXX, BAM Trading Services Inc. d/b/a Binance.US ( " BAM Trading '' ) is in receipt of your complaint to the Consumer Financial Protection Bureau XXXX XXXX CFPB XXXX ). As you are aware, BAM Trading 's Customer Service representatives have been working with you to resolve the issue that you are experiencing with the recovery of your assets. They have advised that approximately another two weeks will be necessary to retrieve your assets. Please continue to communicate with them and provide them with the information that they request. We regret any inconvenience that you have experienced. Thank you for your courtesy in this matter. Best regards, Complaints Team at BAM Trading XX/XX/XXXX Dear XXXX XXXX, BAM Trading Services Inc. d/b/a Binance.US ( " BAM Trading '' ) is in receipt of your complaint to the Consumer Financial Protection Bureau ( `` CFPB '' ). BAM Trading 's Customer Service representatives previously worked to address this matter with you. As explained, BAM Trading representatives can attempt to help you recover assets due to your error in sending assets to an incorrect address ; however, BAM Trading can not guarantee success in those recovery attempts. More information regarding BAM Trading policies regarding assets that a user incorrectly sends to an unintended address may be found at https : //support.binance.us/hc/en-us/articles/4404564207255-I-Sent-Assets-to-the-Wrong-Address-Can-I-Get-Them-Back-. We regret any inconvenience that you have experienced. Thank you for your courtesy in this matter. Best regards, Complaints Team at BAM Trading

Company response to consumer: Closed with explanation