Security Hold — Funds Reversal & Account Access

Applies to: Accounts placed on a security hold after a risk review by GroveX’s internal security & compliance team.

Summary

Following a security review, your account has been temporarily frozen for trading. As a protective measure, recent funds have been reversed to the original deposit currency. Withdrawals remain enabled.

You have 7 calendar days to withdraw available funds. If no action is taken within that window, the account may be permanently locked in accordance with our Terms of Service.

What This Means for You

• Trading: Disabled during the security hold.

• Deposits: May be restricted.

• Withdrawals: Enabled (subject to standard network and processing fees).

• Funds Reversal: Where possible, assets were converted back to the original deposit currency to reduce exposure and simplify withdrawal.

• Timeline: You have 7 days from the date of notice to complete withdrawals.

Important: If we are legally required to retain certain records (e.g., for AML/CTF), those obligations apply even after an account is locked or closed.

Why This Happened

This action follows indicators identified by our security and compliance systems and team (e.g., unusual activity patterns, policy triggers, or regulatory requirements).
These steps are taken under the GroveX Terms of Service to protect users, the platform, and the financial system.

What You Should Do Now

1. Log in and navigate to Withdrawals.

2. Confirm your withdrawal address/network are correct for the asset you’re withdrawing.

3. Complete withdrawal(s) within 7 days.

4. If prompted, complete any verification (KYC) steps so we can safely process your request.

Using the wrong network or address can result in irretrievable loss of funds. Please double-check before you confirm.

Could We Ask for Additional Verification?

Yes. Consistent with our KYC/AML obligations (AUSTRAC) and our Terms, we may require additional identity or source-of-funds information to safeguard your account and meet regulatory requirements. Until verification is complete, certain features may remain restricted.

What Happens After 7 Days?

• If you’ve withdrawn your funds: the account may remain limited or be closed, depending on the outcome of the review.

• If you do not withdraw within 7 days: the account may be permanently locked. You will not be able to trade; withdrawal access may be restricted and any future access will depend on compliance review and applicable law.

Fees & Timing

• Network/processing fees apply to withdrawals and will be displayed before you confirm.

• Processing times vary by asset/network and may be affected by security checks or network congestion.

Appeals & Support

If you believe this action was taken in error or you need help withdrawing:

• Live Support: Contact us through in-app Live Support

• Email: AdminGroveX@GroveX.io

Please include:

• Your registered account email

• A brief description of the issue

• Any reference IDs shown in-app

We will review and respond as quickly as possible. For your protection, we may request further information to verify ownership.

Legal & Policy Basis (Highlights)

• Actions taken under the GroveX Terms of Service (security, compliance, and AML/CTF obligations).

• GroveX may delay, restrict, or refuse transactions for compliance or security reasons and may request KYC at any time.

• Some records may be retained as required by law, even after account closure.

Disclaimer

This article is for general information only and does not constitute legal advice. For full details, please review the GroveX Terms of Service and related policies on our website.