⚠️ Important Notice Regarding USDC Payments - RESOLVED

Site News & Feedback
1

Bad news.

Our USDC (ERC20) wallet has been blacklisted by Circle, the institution managing the USDC stablecoin.

At this time, we do not know the exact reason for this action.

As a result, we are currently unable to move any funds from this wallet.

Immediate Changes

Effective immediately, we are removing all USDC payment options from SWAPD, including:

  • ERC20
  • TRON
  • Solana

This is a precautionary measure while we investigate the situation.

Impact

We currently have approximately $90,000 USD in USDC frozen.

We will do our best to continue paying subcontractors via USDC where possible, but:

  • delays may occur
  • payments are not guaranteed
  • we may transition to USDT permanently (or completely remove stablecoins)

What May Have Caused This

While we are still awaiting clarification, situations like this typically occur due to:

  • funds interacting with flagged or high risk addresses
  • compliance or AML related triggers
  • indirect exposure to wallets under investigation

We are actively working to resolve this and will keep you updated.

Thank you for your understanding.
— SWAPD Staff

5 Likes
2

???

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In USDC.

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Thanks for clarifying

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We are actually considering removing all stable coins from our offer. This is a first for us, and it made us realize that we are one block from being ruined.

6

Check my ticket, my USDT ERC20 payment was rejected as well…

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too bad so sad

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Please contact @MeG.

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Stable coins are pretty ■■■■, the concept is great, the execution is horrible. You can get funds blocked for literally anything, even if you haven’t committed any fraud.

10

Use AML Screening services for transactions?

Pivot back to coinpayments?

Use multiple wallets for to reduce risk / leave them empty after being used?

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That won’t really change anything, do they just hold hundreds of wallets with $20, $500 and $10,000? If they decide to move the money from these addresses into a main one it will still get banned, no matter if just a single transaction is fraudulent. If they transfer it to an exchange like Coinbase etc. they risk being banned from there which will generate more losses (and horrendous fees when exchanging crypto).

This one is actually great, they would take the risk of their addresses being blocked therefore making transactions close to being risk-free.

This would be good too but checking transactions at scale will generate unnecessary costs compared to using a payment provider.

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Randomly. On high-end transactions, we check against blacklists. Also our ledger devices have a built in feature that scans addresses for blacklists. AML vetting is also done via SumSub.

Don’t want to. Even they are more restrictive now, and again, its placing yours/our funds in someone’s hands.

We do that. Funny thing, that USDC wallet is hardly used, compared to USDT volume we do.

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@SWAPD

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Reason foe the block is not related to swapd at all, circle fucked up did a mass block without checking

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@SWAPD maybe your address is on the list?

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If you are get the free publicity (technically not free)

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It’s not.

But we are canned.

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Interesting. Thank you for sharing. Can’t catch a break, can we?

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Same day so he probably didn’t list you guys, leave him a DM, maybe he’ll post an update

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Usdt is safe. Because usdt doesnt operate from UsA

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It’s not safe at all, they can still block addresses.

https://dune.com/phabc/usdt---banned-addresses