Consumer complaint received 2024-09-05
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: Foris DAX, Inc. (CA)

About 2 years ago, I opened an account with Crypto.com ( the commercial name of XXXX XXXX XXXX XXXX XXXX ) and had a small balance of about {$10000.00}. This year I decided to invest in cryptocurrency and sent {>= $1,000,000} to Crypto.com to purchase the same equivalent sum in XXXX crypto currency ; this transaction cost me a fee of about {$44000.00}. Crypto.com holds these crypto assets but I am not comfortable with such holding. About ten days ago, I decided to take possession of my assets and that is when the trouble began. I attempted to transfer my own assets to my control to a " cold wallet '' and was only able to transfer {$180.00} and Crypto blocked all my transfers .... for days I requested Crypto to lift this hold which I never authorized but Crypto just ignored me. I then demanded to close my account and Crypto refused to close my account as such would mean that I would have access to my crypto assets. I have been prevented by Crypto. com to get my own crypto assets. 
I am XXXX XXXX XXXX and this is a big stress for me. 
Today I received through their App - the following message " Upon checking internally regarding your case, I can see that the crypto withdrawal feature is temporarily disabled on your account for further analysis and assessment. This restriction will remain for at LEAST 30 days period while we are internally investigate the case. Please note the access to the account remains intact and the balance can be withdraw at any time to a verified bank account. '' My balance in cash is about {$4000.00} but I am prevented to use the {>= $1,000,000} in crypto assets or prevented to CLOSE my account. 
I discovered that in Florida alone, just in one year, the XXXX XXXX XXXX received XXXX complaints against Crypto / Foris Dax from people which were prevented to withdraw their own assets. 
It is clear that this is a fraud designed by Crypto to prevent people to access their assets while using their client 's funds for profit at no cost. 
It is just unbelievable that Crypto has continued refused closing my account with them for over a week despite countless demands. 
Yesterday I received a call from someone who gave me his name as XXXX XXXX- this person told me that I maybe could " be authorized " to sell m

y Crypto assets and convert into USD - of course at a profit of {$45000.00} to Crypto / Foris. Of course any withdrawal would be capped at a limit of {$100000.00} per week to my bank .... Totally unacceptable for me. Again I demanded immediate closure of my account to no avail. Crypto refuses to close my account. As side note : it is worth knowing that there are no telephone number to reach Foris / Crypto, no customer support other than robot responses and no other manner to interact that through their App .... an organized cover up. Foris Dax / Crypto should be heavily regulated... It is also
note worthy for other to be VERY SUSPICIOUS ABOUT crypto.com they take your money and they love it so much they don't want to return it to you and make " internal investigations " for 30 days or more - totally illegal ... Stay away from crypto.com ....