Consumer complaint received 2024-12-12 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: Winklevoss Exchange LLC
State: IN

Complaint narrative:
I first deposited money using my bank debit card on the Gemini cryptocurrency exchange on XX/XX/year>. The amount of money I deposited with my bank 's debit card was {$230.00} and the money arrived in my Gemini account immediately. I first purchased {$10.00} worth of XXXX and then {$220.00} of XXXX. 

In my opinion, Gemini 's sole purpose is to let people deposit cash and then after they purchase crypto with that cash Gemini then holds it hostage by freezing their account and disabling their ability to trade or withdraw their own money. I have been back and fourth with Gemini XXXX XXXX via email providing to and cooperating with them in everything they have asked me of me such as a photo of me holding my ID and a piece of paper with the date/case ID written on it. I have verified that I am trying to transfer the money to another crypto wallet that belongs to me on an exchange that is also my own and I verified this for Gemini by providing them with screen shots of my other crypto exchange in which I made sure that my name and email ( the same ones that are on Gemini ) were displayed. I provided Gemini a screenshot of my personal etherium crypto wallet address from my other crypto exchange as well. 

Furthermore, I answered all of their questions in great length and in the up most honesty regarding my desire to send the crypto is in fact by my own free will, that no one is forcing me, that I do own the receiving wallet, that the account on the other exchange is in fact my own, documentation of the wallet and account ownership via a screenshot linking the wallet was provided, my name and finally email all to my account on another exchange was also provided. After my frustration with Gemini I ventured over to reddit where I researched Gemini and it turns out they have and are still freezing many accounts and that this has been going on for months if not years and the majority of people never recover the money that was rightfully theirs or at least getting their account unfrozen so that they can at least trade and invest those funds. Gemini does not respond to emails regarding the issue of unfreezing accounts or offer any help in resolving the matter. Basically, as soon as I deposited money into my Gemini account and bought cryptocurrency with that money afterwards I discovered my bank is not compatible with Gemini 's version of XXXX and this is the only method available for fund withdrawal. In light of that unfortunate revelation I tried to transfer my XXXXrypto to my other exchange and that is when Gemini froze my account and rendered my funds inaccessible which is ridiculous since the crypto market is very volatile and as time has passed I have now lost over {$25.00} from my initial deposit since I haven't been able to sell off what I bought or trade it for a different coin. As I mentioned already, Gemini 's version of Plaid does not support my bank account and when I tried to enter the account and routing numbers of my bank account manually Gemini said they don't support my bank which is what motivated me to transfer the crypto to my other exchange where I have linked my bank account via XXXX. On the other platform I can buy, sell and trade freely as well as transfer the money to my bank account in just a simple click. I can not do any of this on Gemini. The money is basically in limbo and I have done nothing wrong to warrant them to freeze my account and withhold my funds. Furthermore, I am not the only one that has this issue with Gemini which leads me to believe that what Gemini is doing is something of a fraudulent nature. 

I have patiently waited for Gemini to unrestricted my account ( since I have submitted all the documents that were requested and thoroughly answered all of Gemini 's questions they have now responded with a new accusation claiming that I accessed the site from an area " outside of their operations '' and furthermore hit me with a slew of new questions and demands and provided a new case number as well. They want me to take the same photo I have already submitted to them again with the date/case number being the only things different now. As well, Gemini is asking very personal questions such as if I have used a VPN and if so what websites I visited with it. 
They also asked if I have travelled to anywhere and if I had then Gemini wanted to know to where and why as if I'm not allowed to travel? I mean I do remember this being a free country and that it is none of their business to where and why I have travelled regardless of the fact that I have not travelled. They asked if I used a VPN and if so why and what other websites did I browse while using a VPN. Again, whatever sites I would have browsed is none of Gemini 's business. In truth I do use a VPN when I am on non-secure public wifi connection. That is internet safety XXXX. I also never logged in from an area " outside of operations '' as they are now trying to claim so I have concluded that this is just a new scheme to continue the back and fourth which gives Gemini a new excuse to deny me of transferring my money to my other exchange where I can put the money in the bank should I wish. I am really confused because the last email I received ( before the one about logging in from an " out of operations '' area ) claimed they were working on unfreezing my account and now this new email/case number and accusation says my account has been frozen and secured which is contrary to what the other team had told me. After I sent them an a response explaining that I felt what they are doing is borderline fraudulent they stopped replying until I finally wrote them again and told them I'm ready to co operate with anything that they need. They responded that now they want me to send a proof of address of where I am currently residing along with documentation and a detailed description of why I am residing in a hotel and if/when I plan to return to the address that is provided on my Gemini account. They also requested I provide them with a bank statement that has my address on it. I provided them with these documents and have not heard anything back from them. 

Everything they have done up until now has been very suspicious and shady with a lack of scruples towards their customers. I have provided them with everything and they still won't simply allow me to transfer the Etherium to my other exchange and then close the matter.

Company response to consumer: Closed with explanation