Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #6617258
Complaint Overview
Complaint ID: 6617258
Company: Anchor Financial, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Fraud or scam
State: Virginia
ZIP Code: XXXXX
Date Received: 2023-02-25T12:00:00-05:00
Date Sent to Company: 2023-03-21T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XXXX I transferred XXXX XXXX tokens from the XXXX XXXX to ANCHORUSD. This app had a 5-star rating and good reviews. Also, this site was going to participate in the XXXXXXXX XXXX drop. I transferred my coins. I could check my balance for three years, and everything seemed normal. In XXXX of XXXX, we received our XXXXXXXX XXXX I had this app on three phones and could check my balance for three years. During this time, ANCHORUSD asked me to verify my identity, which is normal. Everything seemed normal. I then noticed that I could not access my account on one of my phones and opened a ticket with them to report the problem. ANCHORUSD accused me of laundering money and asked me to remove all my tokens from their siteXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX and Consulates worldwide. I currently live in XXXX XXXX, XXXX XXXX, but my home of record is XXXXXXXX XXXX. I verified my identity with them, and they were satisfied. However, I still was unable to log in to my account from one of my phones and reported this. I then started to read reviews about them online, and many others can not remove their funds from this site. I decided to move my tokens back to XXXX. I am being blocked by ANCHORUSD from doing this. I have tried for several weeks to move my coins and can not. I am repeatedly told by ANCHORUSD that they are working on the issue. After reading posts on ANCHORUSD, I believe them to be a scam. I want to report this so that if there is any recovery from them, I may be able to recover my coins. Yes, I feel stupid. Their app is still listed in XXXX and has over 4 stars. I have lots of emails. More than what I seem to be able to upload to your site. Also, there are numerous complaints about this site on the Internet. Thanks, XXXX XXXX
Frequently Asked Questions
What is Complaint #6617258 about?
Complaint #6617258 was filed against Anchor Financial, INC. regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2023-02-25T12:00:00-05:00.
How did Anchor Financial, 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 Anchor Financial, INC.?
Yes, visit the Anchor Financial, INC. company profile at readthecomplaint.com/company/anchor-financial-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.