SimpleSwap 

I’ve been a loyal Simpleswap customer for years, completing 25+ swaps and over $1M in total volume. Unfortunately, my latest experience was a nightmare.

On feb 10, 2026, I initiated four XMR -> USDT swaps. All were frozen for “compliance review.” I immediately provided every document requested, yet for days I only received generic, automated replies. No real communication, no progress, just excuses.

In the end, I had to involve Trackhyper.com, who finally got a response from Simpleswap and pushed them to drop the vague AML excuse. Only then did Simpleswap refund my transactions.

Final outcome: I did get my refund, but the process was stressful, unprofessional, and way too slow for a company I’ve trusted with millions in volume. Customers deserve better than being left in limbo for days with no answers.

Exchange ID: 9mouknm211t82c2z
Date of Transaction: 19 Dec 2025

I am writing this review to share my experience regarding an unresolved $5,500 transaction.

My funds were frozen for a compliance / AML review. In the early stage of the case, I was informed that completing KYC verification was the key requirement and that, once completed, refunds could typically take around 5 days. However, instead of providing a clear and consistent path to resolution, the case entered a prolonged delay.

For approximately 90 days, I repeatedly contacted support asking for updates and whether there were any alternative solutions available. During this time, I received many responses stating that the matter was under review, in progress, escalated, or awaiting updates from the liquidity provider.

After those 90 days of waiting, I was then told again that KYC verification was mandatory — essentially the same requirement that had already been mentioned much earlier in the case. This means nearly three months passed simply to return to the same point, with no real progress made.

In order to cooperate fully, I completed the requested KYC process. After that, I was asked to provide additional Source of Funds documentation, which I also submitted. Despite completing all requested compliance steps, the case still remained unresolved after more than 125 days.

At another stage, I was told that an update would be provided within 24 hours, but no meaningful resolution followed that timeframe either.

The most frustrating part has not been the compliance checks themselves, but the repeated delays, inconsistent timelines, and lack of transparency. If KYC was truly mandatory from the start, that should have been clearly enforced and progressed immediately — not after 90 days of waiting. I understand that AML and compliance procedures are important, but customers who cooperate fully should receive clear communication and timely handling.

I hope this matter is finally resolved soon and that future customers do not experience the same prolonged uncertainty.

Update:
Following my previous review, I was asked to provide further documentation regarding my general source of fiat income, including personal bank statements and explanations of how my fiat funds are obtained.

Although this is an additional request after I had already completed KYC verification, Source of Funds checks, and detailed explanations regarding the original transaction, I have still fully cooperated and submitted the requested documents.

Latest Update:
Following my previous updates, I have now provided all requested documentation, including my bank statements and a clear explanation of my source of fiat funds (personal savings, family support, and other lawful sources).

Despite this, I have been asked again to provide additional documents such as job agreements and salary-based proof or business invoices and shareholder agreement.

At this point, the process feels increasingly unreasonable. I have cooperated fully at every stage — completing KYC, submitting Source of Funds information, explaining the NFT transaction, providing clarifications about third-party involvement, and now also submitting bank statements and personal financial explanations.

This case has now been ongoing for over 140 days, and new requirements continue to be introduced without a clear endpoint or resolution timeline.

I respectfully request that this matter be reviewed and concluded based on the information already provided, or that a clear and final list of requirements be given so this process does not continue indefinitely.

I remain cooperative, but I expect a fair and timely resolution rather than limbo.

( I’ve received your review reply Thank you for the update. I appreciate that the documents are now under validation. I have provided all requested information and hope the review can be completed and resolved soon without further requests. )

although the customer service IS good they havent even returned my USDT to my wallet, i made an error when creating an exchange, contacted customer service, they have said "7 DAYS" and ill get a refund and yet nothing has hit my wallet

yes the customer service is responsible but their team hasnt retunred my funds

On March 30, 2026, I started an exchange. After sending my deposit, it was immediately stopped — “flagged by security system”. They forced me to complete KYC via SumSub link, which I did right away.
Since then, over 17 hours of delays and empty promises:

“We’ll escalate to senior colleagues”
“Case still under review”
“We apologize for the delay, will notify you soon”

No clear explanation, no timeline, no refund, no release of my money. Just generic copy-paste replies while my crypto stays frozen.
This is not a smooth “instant” swap service — it’s a classic funds-lock tactic under AML excuses. Many other users report the same nightmare on forums.
SimpleSwap takes your deposit fast but gives zero accountability afterward. Extremely poor support and zero transparency.
If you value control over your money, avoid SimpleSwap completely. My funds are still stuck and I have zero trust left in them.

Great experience with SimpleSwap! Everything works smoothly and the process is very fast. The platform feels professional and easy to use. Really impressed with the service—highly recommended.

I want to warn everyone about my experience with this platform. I have been waiting for a 6,600 USDT refund for over a month. Despite following every single request from their support team, including:

Verifying my identity

Submitting two separate videos of my wallet

Providing all required documentation

…I have received nothing. No refund, no explanation, and no real communication. I am being left completely in the dark.

They promised a refund within a month, but over 30 days later, I still do not have my money. This behavior is unacceptable and strongly resembles a scam.

If you value your funds, do not trust this platform. They are not transparent, do not honor their commitments, and leave customers helpless even after full compliance.

Consider this a serious warning before sending any money or crypto.

EDIT: Its been now 2 Month's without any clear answer and my money is frozen.

Thats smells like a big scam.

Edit: Next week later, no responses from support no money.

AVOID AVOID AVOID AVOID.

This service made an error with an exchange and despite being given multiple levels of verification kept circling my case through multiple advisors who took up thirty minutes to respond to each message.

Obviously, they were never planning on processing this exchange. The 'error' is a tick script that is devised to randomly cause a redirection in funds from the designated wallet to into a company wallet. The support staff take you in circles, hope you don't keep harassing them for the stolen money.

froze my funds, telling me to wait 30 days and literally not updating anything about this case

every chat is a different agent that repeats the same dumb sentences

This review concerns Exchange ID: 9kxmnxs6t4ieu2de.

I sent 4470.823077 XRP to SimpleSwap’s provided deposit address for an XRP → DAI exchange (expected ≈ 6893.90677715 DAI).
The transaction was successfully confirmed on-chain, and the funds are currently in SimpleSwap’s custody.

I then completed full KYC, which was verified.

I was initially told this issue would be resolved within ~24 hours. After that timeframe passed, SimpleSwap changed the terms and stated the review could now take up to 30 days, during which neither a refund nor an exchange would be processed.

When I explicitly requested either:

a refund of my own funds, or

execution of the exchange at current market rates,

SimpleSwap refused both.

While continuing to hold my funds, support suggested that I “contact the police to recover them.”
Yes — the company that currently has custody of the funds told the customer to call the police instead of returning the money.

Key facts:

Exchange ID: 9kxmnxs6t4ieu2de

Amount sent to SimpleSwap: 4470.823077 XRP

KYC: completed and verified

Funds custody: SimpleSwap

Refund: refused

Exchange: refused

Timeline: changed after the fact to “up to 30 days”

Support response: told to “contact the police”

“Compliance” is being used as a blanket excuse to retain customer funds with no accountability, no transparency, and no enforceable deadline. Once funds are sent, users lose control and support offers no meaningful resolution.

If you are not comfortable with your funds being held after deposit and being told to “wait or call the police,” do not use this service.

I strongly advise caution when using SimpleSwap.

I initiated an XRP → DAI exchange. My funds were deposited successfully to their address. The source address is clean and does not trigger any known AML or risk flags, yet the exchange was paused after they received my funds.

I was instructed to complete KYC, which I did immediately. After KYC was completed and verified, I was explicitly told I would receive an update within ~24 hours. I waited the full timeframe.

Only after that deadline passed did SimpleSwap change the terms and state that the review could now take up to 30 days — during which my funds are inaccessible.

At this point:

No exchange has been completed

No refund has been issued

My assets are being held without a clear or enforceable timeline

This raises serious concerns about the use of post-deposit KYC as a mechanism to retain custody of user funds. Once assets are sent, users lose all control, while SimpleSwap reserves the right to delay indefinitely.

There is also no transparency on whether held assets are exposed to market movement or exchanged at significantly worse rates during these delays — a practice that would be unacceptable if done by a regulated financial service.

Regardless of “compliance” wording, holding customer funds for weeks after KYC is completed, with shifting deadlines, is not reasonable.

If you value access to your funds and predictable execution, think very carefully before using this service.

scampilot aka trustpilot had the audacity to even remove my legitimate 5 star review i traded with this company again today and had a flawless experience the coins were swapped in minutes

KYC extortion, they will steal your transfer and never give back until you make full KYC. Again, they WILL NOT RETURN your money, like legitimate exchanges do. No reversals. Just use thorswap and be done with this scam. DONT send them your documents, this is not a legitimate regulated company - and they harvest it for a reason.
You might end up with debts you didnt know you have or who knows what else they will do with it.
Your stolen transfers can be a peanuts comparing to what they can do with your identity. This is not a regulated entity, it's a drawer in some office in Marshall Islands. Any legitimate company gives you time and then returns the deposit - they clearly said they not gonna do it.

sometimes the transfer take more than 15 mins...

i used their services multiple times and every time the exchange was successful. beware of multiple scam sites that try to mimic this site, they are phishing sites. the one with .io domain is genuine

It is scam don’t make the same mistake what I have done . I can’t withdraw my assets. It said need to deposit 300usdt more . scam app

They are holding my funds and refuse to explain why this happened! Terrible never imagined something like this happening…

I made swap 300$ and the service made refund, but in another wallet. It is my first and last experience. Please, don't make my mistake:)

At 2a.m. stumbled on an article about a promising altcoin. Without overthinking, I used SimpleSwap to get a small amount. The process was so fast that I was back in bed before the article's cooments loaded.