coinlocally.com

Account suspended with Account suspended with open futures positions – no effective support My Coinl

--- FINAL UPDATE ---On December 5, my Coinlocally account was fully frozen and suspended. From that date onward, I had no ability to deposit, withdraw, transfer funds, manage positions, or upload KYC documents.Despite this restriction, multiple high-leverage futures positions remained open. Between December 24–25, during extreme market volatility, my account was still suspended and I was completely denied access to manage risk or close positions.As a direct result, my account has now been fully liquidated, causing a total loss of approximately $36,000.During this entire period, I sent multiple emails and support requests warning Coinlocally about the imminent liquidation risk. These warnings were ignored, and no effective human support or temporary access was provided.This loss was not caused by trading decisions or user negligence. It is a direct and foreseeable consequence of Coinlocally suspending an account while open futures positions still existed.I formally hold Coinlocally fully responsible for this liquidation loss.--------------------Account suspended with open futures positions--- UPDATE / FORMAL RESPONSE TO COINLOCALLY ---This is an official update to my review in response to Coinlocally’s latest reply on Trustpilot.Coinlocally’s response remains generic and does not address any of my core questions or the actual facts of my case.My account was fully frozen and restricted starting on December 5. From that date onward, I had zero ability to deposit, withdraw, transfer, or move funds in any way.Because my account was completely locked, any possibility of money laundering, arbitrage, or suspicious fund movement was technically impossible.In addition, around December 24–25, despite having open futures positions with significant margin and leverage, my account was placed into a suspended/limited state again during extreme Bitcoin volatility. I was denied access to manage risk, close positions, or protect my capital, while the positions remained open.At the same time:I was not allowed to upload KYC documentsIdentity verification was not enabledNo human support or AML/Risk officer contacted meNo clear explanation, evidence, or timeline was providedCoinlocally’s claim of potential arbitrage or money laundering is therefore factually incorrect.With the account frozen, no inflow or outflow of funds occurred, and no such activity could have taken place.Any losses, risk exposure, or liquidation threat during this period are a direct result of Coinlocally’s decision to restrict my account while open futures positions still existed.I remain fully willing to provide any requested identity or compliance documentation immediately, provided that the verification process is actually enabled.Until Coinlocally provides:A clear explanationA defined timelineOr temporary access at least to manage open positionstheir response cannot be considered adequate or transparent.

Date of experience: Dec 05, 2025