LUNO Bitcoin Trading Platform Scam- How I Almost lost 50,000 From This

LUNO Nigeria Account Frozen By Court

As Unfortunate as it can Be, I Bought Bitcoins from REMITANO, a fast-growing Bitcoin Exchange Portal, my main Aim was to sell, It on Luno and Make a Daily Profit of About 2,000. After Buying 20,000 worth of Bitcoin on the journey to LUNO Bitcoin Scam, i Buying Bitcoins on REMITANO was Very fast and Secured, I rushed to Buy 25,000 worth of Bitcoins, Transferred ann this Bitcoins Almost 50,000to LUNO Butcoin wallet. So Far A Luno Official Werner van Rooyen Has contacted me regarding this article and Assured me they are moving money to another Bank to resume payments. Please, no offense on this Article if I called Luno Bitcoin a Scam. What i simply Mean is That if you Deposit Money Into Luno Bitcoins, you are never going to get Money real cash, Because the Bitcoin Scam Alert has made them Pause payments to Nigeria till the Bitcoin Scam case has been resolved.

I immediately Requested for my Money, Shocking, after 24 No single Alert from Luno Bitcoin. I now decided to find out what to Do, Unfortunately, it was Scam Alert. The message below displayed on Luno website Giving me flimsy reasons for the Scam. Buttom Line till Now am struggling to even get back 40,000 from This terrible Luno Bitcoin Scam i Land Myself Into. We Hope they return soon as they been an Impressive Platform So far. However, Warning to all Bitcoin Traders, LUNO is not the Right Place to go for Now this Madness about LUNO Bitcoin Scam is over 2017. Luno has never Had a scam issues in 2016 , 15 But Unfortunate this Hits them hard on April 2017. We pray Bank to release their Money. For now, i have Moved my Bitcoins out of Luno to another bitcoins wallet for fear of losing all my money on the 2017 April, Luno bitcoins Scam. BE WARNED Read Full message from LUNO.COM Below 



One of Most Secure Bitcoin Trading Platform in Nigeria LUNO Account have been Frozen By Court in Nigeria Due to One of User that Converted Money to Bitcoin which it was a scammed Funds, this means Luno will not be able to Credited Depositors or Paid User that Withdrawn to Naira.. as you know Nigeria Court this may takes Almost 1 month or more. i hope user with that lot of money in Luno will not Panic with this News State turned for more story and below 

The reason is that our bank account at Stanbic IBTC, which contains the vast majority of customer funds, has been frozen due to an unforeseen third party issue beyond our control (more details follow below).

All customer funds are safe and accounted for in the account. Right now we are unable to make any payments out of the account until it is unfrozen. For the time being, we ask you to refrain from funding your account with NGN.

What can be done in the meantime

NGN deposits and withdrawals are currently disabled. All other services, such as buying, selling, trading, sending and receiving Bitcoin remain unaffected.
If you have a pending withdrawal that you’d like to cancel, you can do so by opening the “transactions” screen, tapping on the withdrawal and then pressing the “cancel” button. The NGN amount will then be refunded to your wallet. It is of course still possible to convert NGN to BTC and withdraw BTC.

We have been working on integrating a new debit card payment method through a different bank. We will accelerate this project and hope to enable debit card deposits soon. However, we will still be unable to process withdrawals until the bulk of customer funds in our Stanbic IBTC account are unfrozen.
Why the account was frozen

In short, a fraudster stole the identity of a victim (not a Luno customer) and managed to access the victim’s bank account. The fraudster then created an account at Luno, using the stolen identity, and transferred the victim’s money to Luno and converted it to Bitcoin. Once the victim discovered the theft, they reported it to the police who obtained a court order to freeze Luno’s entire bank account (not just the fraudulent amount).

The police and court were unaware that Luno was a business serving thousands of customers and that blocking the account would affect thousands of people, not just this one individual payment. We believe that this was a huge mistake made by the police and court. We are in the process of fixing it now, but unfortunately due to the bureaucratic processes involved it will take time (more details below).

What we are doing and how long it will take

Since we first discovered this, the victim has withdrawn their case. However, once a court order has been issued, it cannot be simply reversed. We must obtain a new court order to unfreeze the account from a higher court. We are working with our legal team to do this as fast as possible but unfortunately it is a slow and bureaucratic process.

The current estimate for re-activation of the bank account is 3-4 weeks. We are doing everything we can to sort out this problem as quickly as possible.


Closing remarks

We deeply regret the situation that has happened here and while we are trying to resolve it as quickly as possible, we understand that it represents a massive disruption for our customers. We ask that you try to understand the situation and the timelines involved. All funds are accounted for and all withdrawals will be processed, it will just take time.

Team Luno