Funds Withheld Since 2023 – No Responses, No Access to My Bitcoin
I’m extremely disappointed with my experience using Damex.
In May 2023, I purchased £950 worth of Bitcoin through their platform. The payment was processed, and my account was then suddenly suspended in August 2023 pending additional verification.
Since then, I have repeatedly submitted every document they requested — ID, bank statements, proof of funds, everything. I have emailed Damex many times throughout 2023 and 2024, and I also contacted Modulr, who processed the payment. Despite all of this, I have not received any resolution, meaningful update, or access to the Bitcoin I paid for.
As of today, that BTC is worth around £3,000 and is still being withheld.
Damex has:
• Failed to reinstate my account
• Failed to release my BTC
• Stopped responding to my emails
• Left me with no way to access the assets I purchased
I’ve tried every proper avenue — multiple emails to Damex, providing full verification repeatedly, contacting Modulr, and attempting to resolve this peacefully for well over a year. Nothing has been resolved.
Based on my experience, I cannot recommend this service. I am now preparing formal complaints and legal action to recover the funds Damex has withheld
Respuesta de Damex
Hi Tan,
Thank you for taking the time to share your experience, we’re sorry to hear about the situation you described.
We want to clarify something important to avoid any misunderstanding:
The events you’re referring to relate to the Damex App, a former consumer mobile application operated by a different entity within the wider Damex group.
That service handled personal accounts, retail crypto purchases, KYC checks, and wallet access for individual users.
This app was fully discontinued.
Damex.io, where you’ve posted this review, is a completely separate business.
We operate exclusively as a B2B payment solutions provider for corporate clients and do not offer:
consumer accounts
crypto purchases for individuals
retail wallets or app access
personal KYC/verification
cryptocurrency custody for retail users
This means the issue you experienced is not related to Damex.io, and this profile is unfortunately not the right place to post your review.
Because this issue is related to the Damex App, its former support team cannot see or respond to reviews posted here.
To ensure your feedback is placed accurately, and to keep this page reflective of Damex.io’s actual services, we kindly ask you to update or remove your review. (DamexApp.io profile in Trustpilot).
Thank you for your understanding, and for helping keep each business profile aligned with the correct service.
— The Damex.io Team
