FreeWallet accused of 'robbery' via hidden fees and KYC delays
FreeWallet, a custodial wallet that has operated for nearly a decade, is facing allegations of theft and a complex scheme to drain customers of funds. In a public plea for help, a customer claims that months of needlessly lengthy know your customer (KYC) verification delays are FreeWallet’s excuse to charge monthly maintenance fees tantamount to “robbery.” As the complaint escalated into public accusations, FreeWallet claims to be actively working on a resolution this morning. FreeWallet offers both custodial and non-custodial wallets. Relevant to this complaint is its custodial wallet service, which launched in 2016 when the price of bitcoin (BTC) was less than $1,000. According to the customer’s complaint, FreeWallet is abusing its powerful status as one of the oldest custodial crypto wallets . Specifically, the customer claims to own DOGE in his wallet that he deposited “years” ago. Depending on the holding period, DOGE has almost certainly appreciate...