Cashapp blocked my USDC transfer to Exodus wallet, citing a TOS violation

[maokai]

RetCurious said:

maokai said:

For getting into crypto, Cashapp, Venmo, and Paypal ought to be treated as last resort options.

If you plan on making purchases regularly from here on out, it's better to just set yourself up with Coinbase, Kraken, or Binance.

How does Coinbase usually handle on-boarding?

What are the fees and how quickly can you access transferred funds?

KYC usually takes about 1 week. From what I remember, new accounts have their deposits held for several days before withdrawal is allowed, but because my account dates back to around 2017, both deposits and transfers now go through instantly for me.

There is no fee to deposit. When moving funds out, you only pay gas, so Base and Sol are the usual choices if you want to keep costs down.

 

[endlrls]

tcpnomad said:


Oh wow. That's actually very interesting. So they flagged all addresses that they could find that sent crypto to an address that had been flagged?! Never heard of this before. But it makes some sense. I wonder if other crypto operations also trace things similarly. And I wonder if this is some kind of federal regulation. A bit strange because if this is true, then this kind of thing would be more common and better known.

This actually has implications for all of us. Our receive address should be different from our send address. I am going to look into this a bit.

Click to expand...

Last night I fell down this rabbit hole.... bottom line, I worked out Coin-base to Exodus Wallet and thought "cool, I got this..." but after reading further and chatting with "George" (that's what I call Google AI) he mentioned the "jumps" to your vendor can still be traced back to your coin-base for suspension depending on which Algorithm is used (YES, even from Exodus)..

So the suggestion was: Coin-base -> Exodus -> Solflare (USDC: Solana) -> Peptide Vendor....

Now, YMMV... the idea being Solflare is genuinely anonymous and can't be traced back?

To any of you veteran folks here, I'd really like to hear what you think about this..

Thank You in advnace!

Also: attached is a picture of my cat so I don't get completely yelled at

 

[endlrls]

tcpnomad said:


In case you are interested, your theory is correct. Exchanges (etc.) absolutely trace the blockchains to collect addresses that interact with addresses that have been flagged. They may evaluate these addresses for riskiness by some algorithm and flag, or even report, them. This is required by federal law. There is a very extensive framework for this - how much to monitor, what to report, and when.

I wonder then, how many of us are offenders by association by now? If you are lucky, the addresses the vendor uses to interact with you are not the ones that were blacklisted. I can't believe it. I have been inadvertently counting on the vendor's OPSEC for my security.

Thanks for bringing this up. Had never really thought about this aspect of it.

Click to expand...

yeah man... I was literally just looking into this..

 

[endlrls]

tcpnomad said:

shirasu893 said:

I attempted a transfer of nearly $1000 in USDC(ETH) from Cashapp into my Exodus wallet. Before this, I had completed 2 successful sends to the very same wallet: (1) a modest BTC amount, and (2) a sizable USDC(ETH) sum the week before, which I then spent on peptides. This most recent attempt, however, was declined "for security reasons." Upon contacting Cashapp customer support, I was told their algorithm had concluded that permitting USDC to go to that address (my Exodus wallet) would "violate Cashapp's terms of service."

Is there any workaround for this?

Push them to give you a reason. That could help everyone else here as well.

These are your assets moving into your own personal wallet. What makes that prohibited? Is it the size of the transfer? You aren't permitted to send assets you own wherever you want just because they exceed some threshold? Seriously, what kind of fuckery is this?!

haha... Love it.. "what kind of FUCKERY is this??!.."

Yes, technically the money belongs to YOU.... why should anyone else have a say in how I use it..

 

[Bioexplorer]

endlrls said:


So it said to do: Coin-base -> Exodus -> Solflare (USDC: Solana) -> Peptide Vendor....

Now, YMMV... the theory is that Solflare is truly anonymous and can't be tracked back?

Some of you veteran folks here, I would love the hear your thoughts on this..

Click to expand...

I'm in the same boat — I'd appreciate input from anyone with deeper crypto opsec knowledge. I did some reading on Solflare, and from what I can tell it adds a bit of friction to tracing transactions, though it isn't a genuine solution. Still, it might be worth trying given how straightforward it appears to set up.

 

[endlrls]

Bioexplorer said:


Yes, I would also like to hear from those more knowledgeable on crypto opsec. I looked a bit into Solflare and it apparently does make it a little more difficult to trace transactions but is not a real fix. May be worthwhile though since it seems fairly easy to implement.

Click to expand...

Right.. I came across the same thing.. Does Solflare basically make those "jumps" impossible to trace?..

And yeah, I get that crypto on its own is already hard enough to wrap your head around, so adding a wallet plus a separate anonymity wallet on top of that feels like a lot...