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Bank called me to ask about my crypto deposit [CAN/ON]

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by COINS NEWS 98 Views

2 days ago I sent about 5K from my crypto account to my main bank account. That amount transaction isn't out of the norm for my account but it was the first time It was coming from my crypto account. (im aware and ready for tax implications).

Anyways, this morning I get a call from my bank asking if I had approved that transaction, that it seemed suspicious and my funds are locked for 3-5 business days.

I got their employee number and all that stuff. They gave me the number to call them back and I verified online while still on the call it was actually the banks fraud department #.

I told them I did approve it and i wanted the funds released. (I also checked online and funds were frozen). They said they have to go over some questions.

What cryptocurrency was that 5k from, How long did I hold it for, And then they really pissed me off when they asked for the crypto account info and mainly the address. Thats when I stopped them and said I want to go in for a in person appointment before I give any further details, they were fine with that and said to bring all the documents they asked for. (im guessing they meant txid and wallet info), so now I got an appointment at my local branch on monday.

I dont mind answering their questions even though I feel like its my right not to. But I definitely don't want to be giving them my wallet addresses.

Has this ever happened to anyone before? If so what was the end result?

Im pretty pissed right now because I don't feel this was a big amount to throw some flags with their fraud department. They locked a good amount of my money for a crypto deposit.... Keep in mind i've been with them for over 12 years and have multiple withdrawals from my bank to my crypto account over the last 6 years. Never an issue. As soon as money came back its a problem. Wtf.

Should I bring a lawyer? Lol

Im gonna try to keep my cool there but i'm about ready to withdraw everything and switch to tangerine or something ????.

Any insight would be helpful. This has me stressed out and I didn't even do anything wrong.

Edit1: tax man said they shouldn't have asked all the details such as address and current location or balance. He said they can ask for the transaction history that resulted in the 5k cash out. Buys and sells of that specific token/coin. He said nothing to worry about it and it happens often. He said its most likely for them to CYA regarding illegal activities. He did also mention that I am already most likely reported to CRA and he said CRA does have the right to ask for all addresses and full transaction history.

submitted by /u/-LostSoul90-
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