Luno: 3 days and counting

The_Ogre

The_Ogre

Honorary Master
Joined
Apr 30, 2010
Messages
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Location
Cape Town
Here's the deal.

I transferred ETH because I know it's a local exchange and it would just be easier.

**** knows how wrong I was.

For the last 3 days I've been battling to withdraw my money. First security kak then having to send a pic of me holding my id to a dude who was just ****ed!
@Luno please just give my motherfucking money!
 
Sounds like you lost your 2FA and had to reset it? And then you didn’t have sends enabled either…which is a good thing.

It’s all there for your own protection.

You would have been crying a lot harder if someone else compromised your account and transferred all your money out.
 
Smiggles said:
Move on over to VALR. PM me for a referral.
Click to expand...
or rather do NOT do that:
mybroadband.co.za

Price hike at biggest South African cryptocurrency exchange

VALR, the largest South African cryptocurrency exchange by trading volume, has notified customers of a substantial increase in fees.
mybroadband.co.za mybroadband.co.za

also ... news & current affairs? crypto threads this way: https://mybroadband.co.za/forum/forums/cryptocurrency-and-blockchain.298/

PS Mybb writers: VALRs trading volume is not verifiable, but even so it is less than Luno's
www.coingecko.com

VALR Trade Volume, Trade Pairs & Trust Score | CoinGecko

View VALR 24h trading volume, trading fees, pair list, fee structure, trust score, most active trading pair, and other cryptocurrency exchange info.
www.coingecko.com www.coingecko.com
www.coingecko.com

Luno Statistics: Markets, Trading Volume & Trust Score | CoinGecko

Get an overview of Luno including its fees, listed cryptocurrencies, and statistics. View charts of Luno's trading volume over the past 24 hours.
www.coingecko.com www.coingecko.com

i.e. it is not the biggest crypto exchange in ZA by any measure, it is behind in trading volume and far behind in number of customers
 
Last edited:
NarrowBandFtw said:
or rather do NOT do that:
mybroadband.co.za

Price hike at biggest South African cryptocurrency exchange

VALR, the largest South African cryptocurrency exchange by trading volume, has notified customers of a substantial increase in fees.
mybroadband.co.za mybroadband.co.za

also ... news & current affairs? crypto threads this way: https://mybroadband.co.za/forum/forums/cryptocurrency-and-blockchain.298/

PS Mybb writers: VALRs trading volume is not verifiable, but even so it is less than Luno's
www.coingecko.com

VALR Trade Volume, Trade Pairs & Trust Score | CoinGecko

View VALR 24h trading volume, trading fees, pair list, fee structure, trust score, most active trading pair, and other cryptocurrency exchange info.
www.coingecko.com www.coingecko.com
www.coingecko.com

Luno Statistics: Markets, Trading Volume & Trust Score | CoinGecko

Get an overview of Luno including its fees, listed cryptocurrencies, and statistics. View charts of Luno's trading volume over the past 24 hours.
www.coingecko.com www.coingecko.com

i.e. it is not the biggest crypto exchange in ZA by any measure, it is behind in trading volume and far behind in number of customers
Click to expand...
Yes screw customer support.
 
Smiggles said:
Yes screw customer support.
Click to expand...
lower volumes = more price slippage
higher fees = less profit

and their customer service is kak btw, but even if it wasn't, they'd need to send a hot petite nympho to my house to personally service my query to make it worth while losing R1000's every time I trade compared to Luno
 
Support works great for me they always get back to me same day.
 
NeonNinja said:
I usually use the chat function. They respond in minutes.
Click to expand...
They just keep closing all my tickets without resolving the issue.

The latest problem I have is that they sent me a mail at 4am this morning asking me for a copy of my ID and a selfie. The problem is the link in the mail to upload the documents takes me to a page stating

Thanks, we're verifying your details​


However I never uploaded anything so I sent the documents to support at luno.com.

In the time I've been trying to sell my ETH and withdraw to my bank account (I've tried since Monday), Eherium as declined 23%.

Luno literally lost me money!

What I find morally questionable is the fact that when I logged in and clicked on "Receive", they generated me an ETH address, but gave me zero indication that my account is locked. So I sent the ETH from an exchange abroad without knowing I would not be able to withdraw it.

This is incredibly frustrating to say the least!
 
I assume the you haven't swapped the ETH to ZAR so you haven't lost anything ? Found more and more companies have limited support when you have issues but atleast Luno falls under the FSCA so your assets are safe. Coinbase in US has also been blocking numeorus accounts as I assume scammers are targeting them constantly.
 
L-Dog said:
I assume the you haven't swapped the ETH to ZAR so you haven't lost anything ?
Click to expand...
No, I haven't sold the ETH yet. It was when I tried to sell it that I realised something was wrong. It simply told me "Something went wrong, please contact Support". And I did just that.

Nobody at Luno told me my account was locked. I am not sure since when it was locked because the last time I traded anything was in 2021 according to my statement.

Still not knowing that my account is locked (or restricted) I then thought that "hmmm, if I cannot sell my ETH, let me go buy something from PnP directly from the Luno app, directly trom my ETH wallet".

As you girls know me, I went straight to Pick n Pay liquor and tried to buy two quarts of Black Label. It was only when I tried to scan the QR code at the till that an error message popped up on my phone with the message "Your account has been locked".

That is when I started to get pissed off (not only because I couldn't get my beer)!
 
SauRoNZA said:
Sounds like you lost your 2FA and had to reset it? And then you didn’t have sends enabled either…which is a good thing.

It’s all there for your own protection.

You would have been crying a lot harder if someone else compromised your account and transferred all your money out.
Click to expand...
I never had 2FA activated. I only activated it when the agent told me I need to make my account more secure that I enabled it (and for good measure added a passphrase as well). He told me to let him know when I've done that and then I'll be able to trade. That was on Tuesday.

So after I failed to buy something from my ETH wallet at PnP, I thought that enabling Sends will allow me to buy food and stuff, however I'm not sure if that would work and it's a bit embarrassing to leave a trolley full of stuff at the till, not because of how other customers will see me, but it's the staff I'm worried about. They all know me (I buy from them almost daily - actually the only supermarket I use) and I'll be the laughing stock forever if I'm unable to pay yet again 🤣🤣🤣
 
The_Ogre said:
I never had 2FA activated. I only activated it when the agent told me I need to make my account more secure that I enabled it (and for good measure added a passphrase as well). He told me to let him know when I've done that and then I'll be able to trade. That was on Tuesday.

So after I failed to buy something from my ETH wallet at PnP, I thought that enabling Sends will allow me to buy food and stuff, however I'm not sure if that would work and it's a bit embarrassing to leave a trolley full of stuff at the till, not because of how other customers will see me, but it's the staff I'm worried about. They all know me (I buy from them almost daily - actually the only supermarket I use) and I'll be the laughing stock forever if I'm unable to pay yet again 🤣🤣🤣
Click to expand...

I don't believe you need Sends enabled to use the Zapper stuff. It's purely for when you want to transfer to another crypto wallet address, but I might be wrong.
 
The_Ogre said:
No, I haven't sold the ETH yet. It was when I tried to sell it that I realised something was wrong. It simply told me "Something went wrong, please contact Support". And I did just that.

Nobody at Luno told me my account was locked. I am not sure since when it was locked because the last time I traded anything was in 2021 according to my statement.

Still not knowing that my account is locked (or restricted) I then thought that "hmmm, if I cannot sell my ETH, let me go buy something from PnP directly from the Luno app, directly trom my ETH wallet".

As you girls know me, I went straight to Pick n Pay liquor and tried to buy two quarts of Black Label. It was only when I tried to scan the QR code at the till that an error message popped up on my phone with the message "Your account has been locked".

That is when I started to get pissed off (not only because I couldn't get my beer)!
Click to expand...

Okay so the account lay dormant for many years and hence likely the lockout as there are new KYC requirements since the FSCA etc which is why you needed to do all the things.

It's all about your own protection and keeping your money safe, not about trying to screw you.

It keeps bad actors out.
 
SauRoNZA said:
Okay so the account lay dormant for many years and hence likely the lockout as there are new KYC requirements since the FSCA etc which is why you needed to do all the things.

It's all about your own protection and keeping your money safe, not about trying to screw you.

It keeps bad actors out.
Click to expand...

This.

I see you are in Canada. Their cryto laws are a bit more strict there too.
 
SauRoNZA said:
Okay so the account lay dormant for many years and hence likely the lockout as there are new KYC requirements since the FSCA etc which is why you needed to do all the things.

It's all about your own protection and keeping your money safe, not about trying to screw you.

It keeps bad actors out.
Click to expand...
Sure but then maybe they should request an account verification when you log in rather than waiting until you've transferred funds and want to cash out? See your point but also get the frustration of the situation
 
saor said:
Sure but then maybe they should request an account verification when you log in rather than waiting until you've transferred funds and want to cash out? See your point but also get the frustration of the situation
Click to expand...
Absolutely but this is also The Ogre we are dealing with here.

I recall receiving multiple emails to advise me to KYC etc, which I'm pretty sure he also did but then chose to ignore.

Wouldn't be surprised if the app did say exactly this and he just went "gimmmme maah moneyyyyy" and ignored it outright.
 
SauRoNZA said:
Absolutely but this is also The Ogre we are dealing with here.

I recall receiving multiple emails to advise me to KYC etc, which I'm pretty sure he also did but then chose to ignore.

Wouldn't be surprised if the app did say exactly this and he just went "gimmmme maah moneyyyyy" and ignored it outright.
Click to expand...
I half-heartedly (and I'm deliberately being ambiguous here) blame Google's algorithm for sorting mails. Except for when mails from a person manning the Support account, the mails end up in my Updates folder/label.

And I only check that folder for OTPs and things which I've actively triggered a site to respond.

All Luno's mails go to Updates, except those exceptions which go to my inbox.

Anyway, finally (top line)
 

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