Transaction Review

1. What is transaction review

2. How to refund a failed deposit

What is transaction review

What does transaction review mean

This is a standard procedure that helps us understand that cryptocurrency assets do not pose any risk to our service or our clients' funds. Due to the specific features of blockchain technologies, crypto assets are always associated with certain risks. Malicious users often use the anonymity of the blockchain for illegal schemes or as a tool for legalizing funds.

Walt is a custodial service and must perform AML review. Walt is committed to doing what is right for its customers and the community and supporting a financial system that is opposed to money launderers, terrorists, sanctions evaders, perpetrators of human rights violations, those who seek to proliferate weapons and commit other financial crimes.

What is the transaction review performed for

1. Combating illegal activities: reviews help detect suspicious patterns and high-risk transactions associated with money laundering, terrorism funding, or other illegal activities.
2. Users’ protection: transaction reviews enhance user safety by preventing security threats and financial risks.
3. Business Image protection: Walt, like other cryptocurrency services, aims to uphold its reputation as a reliable and secure platform, thus making transaction reviews essential for the platform.

Does Walt accept transactions from all crypto services

Walt freezes both transfers to sanctioned cryptocurrency exchanges and deposits coming from there. This helps us avoid risks associated with unlawful transactions and secondary sanctions. As a result, your funds stay secure.

For instance, Garantex, Grinex, Bitpapa, Suex, Chatex, Cryptex, PM2BTC, HTX (formerly Huobi), Rapira, ABCEX, Exnode (Exnode Pay), USDKG, EXMO, arXiv, Aifory Pro, Nobitex, Wallex, Bitpin, Ramzinex, Cryptomus, Heleket, TokenSpot and Tsunami Payments are among the most popular crypto platforms under international sanctions.

You can check official sources for the most up-to-date information on internationally sanctioned entities, such as:

• UN Security Council Sanctions List;
• Office of Foreign Assets Control (OFAC) of the US Department of the Treasury;
• EU Consolidated Financial Sanctions List;
• Local lists from regulators in your country.

How long does it take to review the transaction

Typically, the transaction review may take up to 12 hours. In rare cases, it may require more time or additional information from the user for analysis.

For example, it may be identity verification, information about sender or recipient, proof of address or source of wealth document. In such a case, we will send you a notification from Walt with further instructions if we need some more time for the review.

You can find Walt’s terms in the User Agreement here.

If you have any questions about the transaction review, contact our support team — we'll help you sort it out.

Which documents are accepted as Source of Funds or Wealth

In some cases we may ask for the documents confirming the source of the cryptocurrency, funds or wealth to make a decision regarding your situation.

It can be either:

• Official letter from your bank, another crypto platform or an accounting statement confirming your income and current financial situation;
• Bank statement or other statement proving ownership of financial or crypto assets;
• Pay slips or pay checks for the three preceding months;
• Contract of sale (real estate, vehicles, etc.) along with a bank statement showing the corresponding deposit;
• Certificate of payment of dividends.

We will send you a request to upload documents in a notification from Walt. The review may take up to 12 hours after you successfully submit the documents. The functionality of your account may be limited while under review. We will send the following notification with the results.

My transaction did not pass the review, what does it mean

When reviewing a transaction, various parameters are considered, such as the source and destination of the transaction, their transaction histories and the origin of the cryptocurrency being sent.

• If an incoming transaction fails the review, it cannot be credited to Walt.
• If an outgoing transaction fails the review, it cannot be withdrawn to the target address.

As such, there are multiple reasons why cryptocurrency may not be credited. For example, you may be sent crypto from a trusted friend, but if the cryptocurrency they transferred was associated with a sanctioned exchange or darknet activity, or if it is currently transferred to a similar service, the transaction will fail the review process.

Read how to return a deposit that failed the review here.

My transaction did not pass the review, how to avoid this in future

We cannot predict if a transaction will pass the review due to numerous parameters. If you want to trace your transaction history, consider using AML review services. Although third-party reviews do not ensure approval in Walt, they can provide insights into the cryptocurrency's origin, ownership, and associated services.

My transaction is being reviewed, and I am asked to pass verification, is it mandatory

Yes, it is. Identity verification is mandatory to pass if you’ve received such a request when your transaction is under review.

Additional information by you is required for us to analyze the transaction and make a final decision after successful verification.

How to refund a failed deposit

My deposit did not pass the review, how can I get a refund

If your deposit doesn't pass the review, you'll receive a notification from Walt asking you to provide a refund address. A banner will also appear on the main screen.

To get a refund:

1. Open the deposit: tap View transaction in the notification from Walt or find the deposit in Transaction History.
2. Tap Provide refund address.
3. Read the refund guidelines, check I agree with these guidelines, and tap Provide address.
4. Enter the wallet address for the refund. It must meet the requirements. If the address format is incorrect, you'll see the Invalid address error. Correct the address to continue.
5. Select the address found and tap Continue.
6. Check the recipient address, amount, and network, then tap Confirm and send.
7. You'll see the Refund in progress notification on the Main screen. Once the refund is sent, you'll receive a notification from Walt. Learn how long it takes here.

If the address doesn't pass the review, you'll receive a notification and can provide a different one.

If the review is successful, the funds will be automatically sent to the provided address, minus the network fee.

If several deposits didn't pass the review, you can provide a refund address for each of them in Transaction History.

What requirements should the refund address meet

The address must:

• Be on the same network as the cryptocurrency being refunded. For example, if the deposit was made on the TON network, the funds can only be refunded to a TON address.
• Be a personal wallet that you control. Blockchain transactions are irreversible. If the refund is sent to someone else's address or to an address you can't access, the funds can't be recovered.
• Be outside Walt. The transaction didn't pass our review, so the funds can't be refunded to an address in Walt — neither yours nor another user's.
• Accept transfers without a comment (memo or tag). Some services accept transfers to a shared address and use a comment (memo or tag) to identify the sender. You can't add a memo or tag to a refund, so it may not reach such an address. In this case, use a different personal wallet address.
• Be different from the address the deposit came from.

Can I get a refund to the address the cryptocurrency was sent from

No. Provide a different address for the refund — a personal wallet that you control.

See other refund address requirements here.

How long does it take to review a refund address

The address review usually takes a couple of minutes, but sometimes it may take longer. Once the refund is sent, you'll receive a notification.

I received a refund notification, but the cryptocurrency didn't arrive

If the deposit page shows the “Refunded” status, we've already sent the funds, and everything is done on our side. Next, the blockchain network confirms the transfer, which may take some time.

To check where the transfer is now:

1. Open the Withdrawal receipt notification from Walt. It shows the address the funds were sent to and the transaction hash. Tap the transaction hash to open the transaction in the blockchain explorer.

   If there's no notification, open the deposit in Transaction History, copy the address from the Refund sent banner, and paste it into the search bar of the blockchain explorer for the relevant network (for example, TONScan for TON or Tronscan for TRON).

   Check the transfer status:

   • the transfer is still processing — just wait.
   • the transfer is complete — the funds are already at the specified address. If you don't see them, contact the support team of the service that owns this address, such as an exchange or a wallet.

I accidentally entered the wrong refund address, can I cancel it

No. If the refund has already been sent and has the “Refunded” status, it can't be canceled because blockchain transactions are irreversible.

If the address belongs to an exchange or another service, contact their support team and provide the address and the transaction hash. You can find the hash in the refund notification.

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