I’m new here (just heard about you on Defiant) but not new in crypto. My case is quiet worrying already. I know there are at least 2 people (found on CT) from different countries who have similiar case.
After big Paxos/BUSD announcement I decided to swap it to different stablecoins. Some part of it I have sent to Paxos to redeem it, which I have done before on my KYCed account with higher amounts. I must emphasise that I went through additional review of source of my funds, residence, career etc. 1 month ago. It went through succesfully as I declared how much I will transfer annually. The problem is that three days ago after fully confirmed deposit on ETH I have pending deposit on my account till now. Any enquiry through support tickets meets with automatically generated response that “I need to wait”. I am already asking them to send it back to the address. With no luck. I know two other people are worried as well, it looks like all the retail has their funds frozen on Paxos account.
I was wondering if you could help in any way as it starts to look like a big deal and they are bying themselves time for bonds liquidation at our expense. Market cap is going down so I guess business accounts are still going through … or some VIP investors.
Have there been any developments in your case?
I only found the press release of them boasting about the redemptions.
Available at: Paxos Manages the Safe Redemption of $7.9B BUSD in One Month Without Market Disruption - Paxos