I initiated an XRP send from my Luno account to my Binance account on 11th January.

Luno did not allow the send to go through and locked my account.

I got angry and threatened to report them to the Securities Commission of Malaysia.

13 minutes after receiving my threatening email, Luno quickly released the XRP and unlocked my account.

Must use threats to uphold our consumer rights.

same issue here, but two years ago. they didn't even give any explanation why the account was locked. kept asking me to do stupid things and run around. found out a few months later it was because of sending out crypto to other wallets/exchanges. told them thank you and moved my crypto to a different provider.

stay away from luno. period.

I immediately joined HATA when the Luno incident happened.

Cannot let them hold me to ransom.


https://forum.lowyat.net/topic/5504525

What about sending to private wallet/address ?

Can kena locked ?

That I am not sure.

Can you try and let us know?

i have been buying SOL from Luno and sending to my private wallet, been doing for past 3 months- so far, no issues or email from LUNO-

Maybe the ringgit value of your SOL didn't trigger their send threshold.

My 1,150 XRP is valued at more than RM15K.

Maybe that's why they lock my account and ask me stupid verification questions.

Yup, probably above rm10k triggered.

already say many times... do not send from exchange to exchange...

still got people do that...

you send to your personal wallet... then from there send to wherever you wish...

you do not have the seed phrase of your luno or binance account...

Rule no. 1 Not your keys not your wallet....

That is why bitcoin ETFs are created. No funny risks

This post has been edited by mois: Jan 16 2025, 07:55 PM

But yet got Ali ask luno to send to Ah khau wallet and say its his wallet...

They still think Ah khao wallet is Ali wallet and exchange should comply if not i report SEC. 😅

still got ppl dabble un keriptos without fully understanding the products... sigh..

LUNO should have just asks user to record video of them restoring that wallet address onto another wallet app to proove its theirs. see how these users solve that. lell

Threshold so low....

exactly- this is what i have been doing all this while.

If your intended destination is an exchange wallet, no point sending to your private wallet first and then send from private wallet to intended exchange wallet.

It makes no sense, you only incur extra send fee by sending two times.

How much did you send? I have done few separate transactions deposit RM500 > XRP > XRP to external exchange wallet no issues.

could be large amount trigger auto lock or maybe random lock as part of security to stop pipits from washing money.

1,150 XRP

Is that considered a lot?

Over RM10k probably trigger it. I assume that you transfer MYR from you bank account to luno which is why they manually unlocked you so fast. If the other way around, no transfer MYR in from bank before, but suddenly got Crypto coming in to cash out then they will ask for more proof.

I don't think that it is Luno purposely locking you. Likely is BNM or SC directive to scrutinise a certain amount of transfers and so you were automatically flagged by system.

I did not deposit any MYR from my bank account.

The XRPs are already inside my Luno account since 2018 when I joined and before they were regulated by SC.

Last time 1 XRP cost about RM2 during that year you bought it's like RM2300. But also that Luno already limit the 10k before this happen. Now XRP already cost like RM14 perXRP, the total you have exceed 10k limit as SC already put certain amount to be on watchlist. If you go to currency exchange and change 10K also need to be question a lot.

Also, you don't have any cold wallet storage ? I keep mine some in Luno and some in cold storage.

Yes, I have more XRPs on my Tangem Wallet than in Luno.

any suggestion for this "personal wallet"?

How much XRP you have and the price you buy during that time ?

Sorry, my cold wallet holdings is a secret.

But I recently transferred most of my assets in my Atomic hot wallet to my Tangem cold wallet

I do have trezor and Ledger cold wallet. Never try this Tangem. Is it like the cold wallet with seed phrase or other ?

Tangem has the option of generating a 12-word or 24-word seed phrase during initial setup.

The default is no seed phrase.

I chose the 24-word seed phrase option.

This is the main difference between Tangem and Ledger/Trezor.

in the end still using seed phrase for recovery. Better remain with Trezor instead. I still have some my holding at ledger, will move out by next month as my ledger LCD screen start to dim a lot, hard to see the display. Maybe i need to engrave seed phrase on metal plating, currently on paper.

Tangem has a 3-card set, each card can last 25 years.

I hold one in my wallet, one in the safe and one in safe deposit box.

They are all identical after setup with the same passcode to interact with the Tangem mobile app.

The card uses NFC to communicate with the phone.

I have finally unstaked all my ETH, ADA and SOL from Luno.

I also have gradually transferred all my crypto assets out of Luno into Binance, HATA and NEXO.

I can now close the chapter on Luno.

luno charge so high fee u oso stake

For each send from Luno, I have to fill up Hata's Crypto Receive Form, no matter how large or small an amount.

This is the so-called Travel Rule compliance which came into effect recently.

I now stake SOL with Binance.

Wow, congratulations. You dare to take Luno to SC

I threatened them I will lodge the complaint to SC in 24 hours if they continue to withhold my XRP send and lock my account after two business days.

They quickly replied that they have released my XRP send and unlocked my account.

So I did not lodge the complaint.

Finally transferred all my cryptos out to Binance, Hata and Nexo.



I didn't even say goodbye.

Well done bro. So Luno scared of SC. Hahaha