Pinnacle is Threatening to Confiscate my Six-Figure Balance

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sportsbettor5

New member
Joined
Jan 15, 2022
Messages
2
Cliffs: My Pinnacle account is in good standing, yet Pinnacle is threatening to confiscate my full six-figure balance and "donate it to charity" if I don't withdraw the full balance within 30 days using Tether (USDT), which is a sub-optimal withdrawal method which will almost certainly cause me to lose $1000s.

Cliffs (medium-length version): Moved to new country, found that I couldn't withdraw from Pinnacle, contacted customer support on Jan 1, 2022. First Pinnacle said I could withdraw from my account in CNY (the account currency) or convert the account directly to fiat currencies GBP or USD or EUR or MXP.
I liked these options and planned to convert since I had been happy with Pinnacle. Then they said I could only withdraw in bitcoin (Cryptopay) and that it was not possible to convert the account directly to GBP/USD/EUR/MXP. They pressured me to withdraw the full balance in bitcoin "as soon as possible" as bitcoin had been crashing (Jan 5 to Jan 10). I called them out on this, then Pinnacle waited until the bitcoin price started going up again, then disabled the bitcoin option and offered only the Tether (USDT) withdrawal option. Today they've started saying the direct conversion of my account into USD/EUR/MXP is still available for a "conversion fee" of 2.75%, which they of course never mentioned before and is nowhere in their terms and conditions. Finally, today they said if I don't withdraw in Tether (USDT) before February 15, 2022 that they will confiscate my balance and "donate it to charity".



Full version (long): https://www.bookmakersreview.com/fo...ng-to-confiscate-my-six-figure-balance.28235/
 

sportsbettor5

New member
Joined
Jan 15, 2022
Messages
2
As a penalty (my term) for moving countries, Pinnacle is telling me that I must either:





1) convert my account to another fiat currency for a one-time fee of approximately $4125



or


2) Withdraw my full balance via Tether (USDT), which will almost certainly cost me $1000s in conversion fees



or





3) Turn over my full ~$150,000 balance to Pinnacle so they can "donate it to a charity" of their choosing.



These are the only three options Pinnacle is giving me and they gave me 30 days to make a decision. As far as I can see there is nothing in Pinnacle's terms and conditions authorizing them to confiscate my balance nor to charge the conversion fee.
 

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