ComplaintsforPaxos Trust Company
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Complaint Details
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Initial Complaint
12/20/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
Paxos erased my account, attempting to steal the over $300,000.00 balance.But they will eventually be forced to pay. In the meantime I suggest staying away from Paxos. Sad.Customer response
01/13/2024
Better Business Bureau:
At this time, I have not been contacted by Paxos Trust Company regarding complaint ID ********.It seems there are elements within Paxos which are corrupt, possibly starting at the top.
With my experience of being cheated out of over $300k by Paxos, plus seeing other web complaints, I suggest that current and potential customers consider another crypto company. Sad, but justice will eventually prevail.
Sincerely & Thank You,
***********************Initial Complaint
09/01/2023
- Complaint Type:
- Order Issues
- Status:
- Answered
Paxos is the parent of parlik trading hub, I sent an investment to parlik. They refuse to pay the proceeds, they just keep demanding more money. I have been trying to deal with them for months and they do nothing.Business response
10/24/2023
******* *** **** ************************* ************** ************** *** *** ********** ** *********
Dear ****************:
With reference to a complaint that you notified to The Better Business Bureau (BBB) on
September 5, 2023, with respect to irretrievable funds from an account created with Parlik
Trading Hub, please find below responses from Paxos Trust Company, LLC (Paxos, itBit,
we or our).Your Complaint: Paxos is the parent of parlik trading hub, I sent an investment to parlik. They
refuse to pay the proceeds, they just keep demanding more money. I have been trying to deal
with them for months and they do nothing.Paxos Response to Your Complaint:
Paxos has no record of you as a customer of our platform. We are not affiliated with the entity
Parlik Trading Hub, where we understand you are being asked for additional investment and
unable to retrieve deposited funds.This appears to be a fraudulent scheme. Paxos has taken appropriate steps to prevent further
fraudulent use of itBits name in connection with these fraudulent websites.We regret any inconvenience to you. Please do not hesitate to contact me if you have any
questions or concerns.Best Regards,
***********************************
Associate General CounselInitial Complaint
08/15/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
In mid June my personal information including my e mail address were compromised. I needed to alert my contacts both personal and business related of my e mail address change. I contacted Paxos. I have funds held by them. The only way to contact Paxos and change my e mail address on file was thru their help line. I contacted them multiple times. The first response was set up another account and transfer your holdings in the first account to the new account. I did this but immediately after was not allowed access to either account. I was faced with notification online please allow third party cookies. Done but the same notification was repeated with access denied. I again contacted Paxos multiple times regarding lack of access with incomplete responses. After many attempts I was asked to submit a photo of myself and proof of identity/proof of residence. This was done but no access was allowed. No e mails sent by me were hostile nor indicated any form of threat. In this chain of exchanges I was asked to log into my account, convert its content to dollars, and transfer the money to my bank account linked to **********************. This seemed excessive but I tried and was still unable to access my account to achieve this. After repeated exchange of e mails the help line then asked me to attempt login again and send a screen shot of the last image indicating login failure. This I did not do. I believe this was another attempt to obstruct my access to funds held by Paxos. In the process of seeking further information of how to obtain my funds I came across multiple complaints by others of a similar chain of events as well as some thru the BBB which led me to contact this site to file a complaint. I simply wanted to change my contact info. Since Paxos is regulated by the *** N.Y. and works with the SEC I am dumbfounded at this obstruction. The Paxos site indicates security and cooperation which is not occurring - please help me obtain funds legally mine.Customer response
08/22/2023
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
*******************************
Initial Complaint
08/07/2023
- Complaint Type:
- Customer Service Issues
- Status:
- Resolved
Paxos does not allow me to close my account. I want to be removed from their database and do not want to be contacted or solicited by them. They currently provide no way for me to control my digital privacy under GDPR nor CPPA. Simply removing my account and unsubscribing me would suffice.Customer response
08/07/2023
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
***************************
Initial Complaint
03/02/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
The Company has simply ignored all my requests to let me redeem my BUSD and setup my account. It is absurd. I am a registered person and easy to verify. It has been almost 6 months.
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Customer Complaints Summary
6 total complaints in the last 3 years.
5 complaints closed in the last 12 months.