Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #4899127
Complaint Overview
Complaint ID: 4899127
Company: Foris Dax, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Money was not available when promised
State: Maryland
ZIP Code: 20901
Date Received: 2021-11-10T12:00:00-05:00
Date Sent to Company: 2021-11-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I opened an account on the Crypto.com app on or about XXXX XXXX, 2021. I followed the app 's instructions on how to wire money into my Crypto.com account so that I could begin trading cryptocurrency. A wire of {$1200.00} was made and confirmed through my XXXX XXXX account. Crypto.com said a wire transfer would show up in 2 business days. Nothing showed up in my account, but I remembered that they said an ACH transfer could take five business days. I thought maybe I accidentally did an ACH transfer, so I waited about five business days passed before asking about my money. I began inquiring about my wire deposit on Friday, XXXX XXXX, by email. They asked for some specific information about the wire, which I got from XXXX XXXX and got to them. They now say the information must be in the form of a " proof of payment document, such as an official bank statement '' ... so i sent them a snapshot of my bank ledger and an email from XXXX confirming the transfer. They continue to say this is not enough. My paper bank statement does not yet reflect the transaction, and I wouldn't share my bank statement with them anyway. They are stonewalling me, running me around and not doing anything to help me locate my funds. I know that Crypto trading is high risk but I didn't think that I would have my wire transfer stolen in literally the first transaction I made. I have begun the process of recalling the wire transfer through my bank, XXXX XXXX, which can take up to 15 days and is not guaranteed. I just want to make sure Crypto.com is compliant with federal money transfer regulations and that this doesn't happen to others.
Frequently Asked Questions
What is Complaint #4899127 about?
Complaint #4899127 was filed against Foris Dax, INC. regarding Money transfer, virtual currency, or money service specifically about Money was not available when promised. It was received by the CFPB on 2021-11-10T12:00:00-05:00.
How did Foris Dax, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Foris Dax, INC.?
Yes, visit the Foris Dax, INC. company profile at readthecomplaint.com/company/foris-dax-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.