r/OCryptoCanada

Have you tried it yet? How do you feel about it?

What is the UI/UX like?

Looking for honest feedback/insight for my own research, what do you like?

Robinhood Canada is ready to take users off the wait list now.
Zero trading fee from July 1 through September 30, 2026

I was contacted by someone on WhatsApp with a crypto proposal that sounds unusual, and I’d like opinions from people who understand OTC trading, AML, and blockchain compliance.

Here’s what was offered:

He says he has access to BTC, TRX, SOL, and other cryptocurrencies.
He will send the crypto to my Trust Wallet **first**.
After I receive and verify it, I have to send him USDT worth **95%** of the value.
I keep **5%** as my commission.
The first transaction is around **$1,000**, but he says if everything goes well, there will be daily transactions.

His explanation is that he is based in the UK and says converting BTC to USDT there creates a large tax liability, whereas sending the crypto to someone in Dubai and receiving USDT back helps him avoid those taxes.

He also claims:

He operates crypto mining equipment.
He makes around **$2,500 per day** from mining.
He showed me his Trust Wallet and other wallets during a live video call, and the balances appeared substantial.
He says I can use Trust Wallet or any wallet/exchange to send the USDT back.

My questions are:

Does this tax explanation actually make sense?
If I receive the crypto **before** sending any USDT, what risks am I still taking?
Could I unknowingly be exchanging “dirty” crypto for “clean” USDT and end up with compliance or legal issues?
Has anyone here seen this exact business model before?
Is there any legitimate reason why someone with large crypto holdings wouldn’t simply use Binance, Kraken, Coinbase, Bybit, or a professional OTC desk?
Could the first few transactions be genuine just to build trust before something goes wrong later?

I’m **not planning to proceed until I understand the risks**. I’m looking for replies from people with real experience in crypto compliance, OTC trading, blockchain analytics, or UK crypto taxation rather than guesses.

I know literally nothing about crypto, but I was given $1250 in USDT and its in my exodus wallet. I have no clue how to get this money to my bank. I would appreciate any guidance and help.

Need help with my crypto from stake, had an email from my bank that they cant receive my crypto since they stopped in 2023 and im from canada. And for the past 2 days my money has been stuck in the crypto world with an address and now my bank wont help me out

Hi everyone, I just have a question because I'm getting mixed answers online.

My query is, I got 2 separate loans from different banks approximately 7 years ago, and told the bank they were car loans, 30,000 usd between the 2 loans, but I used the money to invest into crypto.

Now I want to be compliant with exchange and show transpancy on my holdings, I will have to show where I got the money I used to invest and from what I read the exchange may ask for loan agreements to prove the initial invest came from a legit source but where I'm not is..

If I show them the contracts that state the loans were car loans so I might have breached the contract by using the funds to invest and I'm getting mixed answers that an exchange auditing my documents might close my account due to me breaching my loan agreement and using the funds against the banks will.

Has anyone dealt with a situation like this ?

I'm trying to understand whether this is simply standard practice across the crypto industry or whether it's something that deserves more discussion.

Suppose someone mistakenly sends an ERC-20 token to an exchange deposit address that was intended only for ETH. The blockchain transaction completes successfully, and on-chain evidence shows the assets were delivered to an address generated by the exchange.

The exchange's response is that they have no recovery process (or that recovery is not supported), even though the assets appear to be sitting at an address under the exchange's control.

I fully understand that the user made the mistake. That's not the issue.

My question is what happens to those assets afterward.

• Are they technically unrecoverable, or is this primarily a business policy?
• If the exchange controls the destination address, what ultimately happens to unsupported tokens that accumulate there?
• Are there accounting, custody, or regulatory obligations regarding customer assets that end up in this situation?
• Have any exchanges introduced recovery procedures or fees for these cases?

I'm not trying to accuse any particular company of wrongdoing. I'm genuinely trying to understand where the line is between a technical limitation and a business decision.

I'd especially appreciate hearing from people who work in exchange operations, custody, or blockchain infrastructure.