BE WARNED!!

This is a copy of a message that I received from someone who may or may not call himself MUHTAAR: Muhtaar (Luno (EKB)) 22 Jan 2025, 19:50 GMT+2 Hi Laurie,

Thanks for your question.

By signing up for an account with Luno, you agreed that you would not use your Luno account to undertake any of the activities or categories of activity considered to be a Prohibited Activity under Luno’s Terms of Use. Further, Luno has certain obligations in terms of anti-money laundering and counter-********* financing laws. Our approach to complying with these laws is set out in more detail here.

In terms of our obligations and, in order to prevent prohibited activities from taking place on our Platform, Luno monitors the activity taking place on customers' accounts carefully., In doing so, it came to our attention that you had engaged in or had been likely to engage in a prohibited activity. On that basis, the decision was made to close your account.

Luno’s account closure process and how we return funds was outlined in our previous email to you. The decision to close your account is final and, once the closure process is complete, we ask that you refrain from opening another Luno account. Ends.----------------------------------------------------------------------------- -----------------------------------------------------------------------------

My Own Comments: I have used this platform for some years, with no issue at all. Mid 2024 I decided to make a small investment into the crypto market again, after not getting involved for some years. I have never been a large investor, by any means. I invested the equivalent of less than $300 in or around April 2024. Out of the blue, a week or so ago, I get an email from *** telling me that they are going to close my account. I took no notice of this, as I felt that this couldn't be true, as I have not done anything to warrant automatic closure of my account, without a suitable explanation. I had after all been dealing with them, blemish free for many years, on and off. This week my Luno account was closed, and I no longer have access to my Luno wallet, so my funds are now not available to me. The reason given is, that it seems they have been 'monitoring my account' and seem to have developed the idea that I'm somehow involved in somewhere between money laundering ($300!) and international terrorism?! I'm a 73 year old retired banker, existing of a limited pension. International Terrorism?!! What the heck!! What an extremely poor excuse. Now they sit with my (insignificant, but still) amount of money which they are no doubt benefitting from, because I'm certainly not, and cannot proceed to sell and exit the market if I feel the need to protect this small investment. Or better still allow the investment to grow, in this bullish crypto market that currently exists. I find this extremely frustrating and uncalled for. These platforms have insufficient contact points, so trying to communicate with them is virtually impossible. I have subsequently read some of the comments attached to the many bad ratings that exist about Luno, and wish to add my extreme warning to people, to tell them to expect to lose money, by investing with these people especially. Not because of bad investing decisions, but through possible internal administrative pilfering that could be taking place, otherwise why else would they impose such uncalled-for action? with little or no ability to complain, ask for explanations etc. You really are at big risk, especially if you are investing in meaningful amounts, which thank goodness I wasn't. Please think about allowing for negative ratings, as a 1 for the treatment I have had from these people would certainly have resulted in a negative star rating.