FreeWallet, a custody wallet that has been operating for nearly a decade, faces allegations of theft and a complex scheme that will drain customers of funds.
Customers claim they have long known unnecessarily that delays in customer (KYC) verification is an excuse for free wallets to charge monthly maintenance fees equivalent to “robbery” as the public is seeking help.
As complaints escalate to public accusations, Free Wallet claims it is actively working on this morning’s resolution.
FreeWallet offers both detention and non-lawful wallets. Related to this complaint is a managed wallet service launched in 2016, with Bitcoin (BTC) priced under $1,000.
According to customer complaints, FreeWallet is Abuses its strong status as one of the oldest custody crypto wallets. Specifically, the client claims he owns Doge in a wallet that he left behind “years” ago.
Depending on the holding period, Doge has almost certainly been valued for its value since its deposit. For example, if a customer deposits Doge before 2021, they collect at least 3,000%.
However, customers argue that FreeWallet’s monthly inactivity fees are merely theft.
In fact, one FAQ is clear. “FreeWallet is free to join and most of our services are absolutely free.”
“It’s 100% free to send and receive crypto assets between FreeWallet members and keep them in your wallet.”
However, another web page on the same domain cannot hold a specific crypto asset. It’s not free.
On this conflicting webpage, FreeWallet asserts its right to claim.50 USDT or another cryptocurrency equivalent“Monthly inactivity after the first six months of the customer. It defines inactivity without performing outgoing, exchange transactions, or cryptographic purchases.
Read more: Europol Raids $24 million “Mafia Crypto Bank”
Share your FreeWallet ticket number
Many FreeWallet customers forgot about crypto deposits in the early days of their operations, so FreeWallet can use the terms and conditions for their customers.
If they remember to log in, they can prevent them from retreating with longer requests for more detailed information.
The complaints say customers are unhappy with the delay and are angry at unearthing data such as transaction IDs and email receipts from years ago. Meanwhile, FreeWallet has benefited from a significant inactivity fee.
Interestingly, FreeWallet has decided to publicly acknowledge its customers via social media. The company’s official X account responded yesterday.Please note that the funds were not stolen. Fees will be charged in accordance with our Terms of Use. ”
Today, FreeWallet follows up and says, “Share your ticket number so you can find out more.”
Protos contacted FreeWallet for comment but received no immediate response. Given that your support ticket is open and is under investigation like this morning, it could potentially allow customers access to withdraw their assets or qualify for a refund of inactivity fees.
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