Swap flagged for KYC? What happens and your options
NoxSwap Team
No-KYC swaps don't ask for documents, but no honest service can promise that a transaction will never be checked. Exchanges screen deposits for links to stolen or sanctioned funds, and a small share of swaps is selected for a closer look. If that happens to yours, it is not the end of your money. Here is why swaps get flagged, what you will see on the order page, and exactly what your options are, including getting your deposit back without verification.
Why a swap can be flagged
Every swap on NoxSwap is executed by our exchange partner, which screens deposits automatically. By its own figures, about 0.5% of transactions are selected for additional checks. The usual reasons are large amounts and deposits that blockchain analysis links to known risks, such as hacks, scams, darknet markets or sanctioned addresses.
Being flagged is not an accusation. Coins change hands many times, and a deposit can pick up an unlucky history its current owner knows nothing about. The check exists so that the exchange can tell the difference.
What you see on the order page
The order status changes to Under review, and the page explains what to do next. The swap pauses until the check is resolved, so you will not receive the payout in the meantime. Your deposit is not lost: it stays with the exchange partner while the case is open.
Keep your order ID and your signed letter of guarantee at hand. They are the fastest way for support to find your swap and confirm what was agreed.
Your options: verify or decline
You can complete the verification the exchange partner asks for, usually information about the source of the funds and sometimes an identity document. Once it is accepted, the swap continues at the agreed terms.
Or you can decline. In that case the exchange partner returns your deposit without KYC, to your refund address or to the address it came from, minus only the network fee, usually within 24 hours. This rule is written in our Terms and AML policy, and the partner has confirmed it to us in writing.
There is one exception: a transaction suspected of being linked to illegal activity may be held until the case is resolved. That is a legal obligation for any regulated exchange, and it is rare.
How to decline and get the refund
Write to info@noxswap.io with your order ID and say that you decline the verification. If you did not set a refund address when you created the order, tell us where the refund should go. It must be an address on the same coin and network you deposited.
We pass your decision to the exchange partner and follow the case until the refund is sent. You will get the refund transaction so you can check it in a block explorer.
What you can control
Send from a wallet you control rather than straight from another service, so that the history of the deposit is your own. Always fill in a refund address: it makes any refund faster and avoids back-and-forth with support.
Don't split a payment into many smaller swaps to stay under a limit. Structuring payments to avoid checks is illegal in many countries and is itself a classic reason for a flag. If you have a large amount, one honest swap with a refund address is the cleaner path.
Why we are upfront about it
Some services advertise no KYC ever and then hold flagged funds for months. We prefer to tell you how it works before you send: standard swaps need no account and no documents, a small share can be checked, and if you decline, you get your deposit back without KYC. Knowing the rules in advance is part of privacy too.