Swan BTC “Paused” Withdrawals - NYKNYB 🤷♂️ 
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As I know, they have problem with storing bitcoin. The current company wants money from them and Swan move coins to different place.
100% True NYKNYB
OH SHIT!
And it begins.
Danger Will Robinson!
👀
not your key ladi-ladi-la
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"We care about your security".. 👀
Does it sound familiar? Not your keys..
Swan called out Fortress Trust for charging their customers an admin fee so fortress resigned leaving them hanging out to dry is how I understand the situation
Dang
Could be nothing... but you might want to grab your coins before you hear about it on @RABBIT HOLE RECAP
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You guys are still using CEX's? 🫣😂👀
The on/off ramps into BTC are still being heavily gated to the degree that individuals are blocked from making sizable purchases.
For instance, if I want to purchase 1 BTC using a N0-KYC method I'm not sure if that is possible. One could use RoboSats or Bisq to make smaller purchases.
Anyway, this is likely what forces most into using KYC methods to purchase BTC.
Facts
Oh boy. First a custodian switch and now this?
I believe it’s the other way around. Fortress, resigned, and then charged the fee for moving the funds to a new custodian.
Is this for the old custodian account or the current one?
not your key not your coin
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Not your keys not your coins
Looks like game over for Swan. Fatal reputational damage.
Swan is a poorly managed company. It’s a shame.
"no need to worry" 🫠
I will sell you 1 BTC no KYC if you pay up front.
You don't want to pay up front, which is why it should be broken down into smaller amounts for each trade 🤙
If I tried to use any bank to send some random anon 100k USD there will be bells ringing all along the AML dept, wire blocked immediately and serious questions to be answered. Cash is impossible. How could I get a briefcase of cash?
Honestly I do not see any way to buy even 0.5BTC non KYC in single transaction.
Pleb is left buying 1-2 million sats at once.
If they refused to wire the money, you could withdraw the cash.
However, if you would insist on going to all this trouble to prove a whole Bitcoin can be bought at once without breaking it down into smaller parts, I would have to charge you an insanity tax on top of the normal price of a Bitcoin. Let's say a total of $100,000.01
🤣 🤣 🤣
Fair enough
😎
@npub18p63...0k8k bruh...
@cory excuse me?
It’s for the legacy accounts with Fortress, perhaps while those are funds are migrated to the new custodian. My Swan account with the new custodian isn’t limited for withdrawals.
😏 Really? What does NYKNYB mean?
Same here. I withdrew everything a week or two ago and again today with no issues.
Had this happen when an A/CH deposit didn't clear once. Swan is essentially extending short term credit for smash buys so they are scammable on timelines of ~1 wk.
Not your keys not your bitcoin
I guessed Now you know, now you bitcoin and was confused 🤔
Don’t worry though
SAFU
😅
There’s been something fishy about @npub1tftc...xar5 for quite some time