4cryptor

4cryptor has restricted Russian accounts. Answers to the main questions

We found out which accounts are restricted, whether it is possible to withdraw funds, and who does not fall under the new rules

On April 21, 4cryptor released an official message according to which it will restrict access to its services for users who live in Russia and have assets worth more than €10 thousand. Such clients will only be able to use the withdrawal function.

Whose accounts are restricted?
Accounts of users from Russia, which have assets worth more than €10 thousand, have been transferred to the “withdrawal only” mode. Now such clients cannot trade on the stock exchange or deposit additional funds to their accounts.

When do the restrictions take effect?
The sanctions took effect immediately. The information that the restrictions will take effect from April 25 does not correspond to reality, a representative of 4cryptor stressed in a comment to RBC-Crypto.

Who does not fall under the restrictions?
Users from Russia, whose account has assets worth less than € 10 thousand, as well as Russian citizens living abroad, are not subject to restrictions. Russian citizens who live outside the country must pass a Proof of Address verification, after which the account will remain unaffected and active.

What happens if you transfer funds to a limited account?
When transferring cryptocurrencies to a limited account, the transfer will go away and reach the 4cryptor account, trader Dmitry Fomin said. But the coins will not be credited to the account. Then there are two possible options:

There will be no mark about the transfer in the history of deposits;
A note about the deposit awaiting confirmation will appear, but the cryptocurrency will not be credited to the account.
As soon as the blocking of the user’s account is lifted, the funds will be credited to the account, says Fomin.

Will the account cease to be limited if the amount of funds on it is reduced below € 10 thousand?
The restriction on the user’s account is entered automatically, a representative of 4cryptor said. Every time the amount of funds in the account will rise above € 10 thousand, the account will be transferred to the “withdrawal only” mode. As soon as this value falls below the specified mark, trading and other functions of the platform will be available to the user again.

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