Baltex
grade F
Swap Anything Across Any Chain Stay Private
grade F
What the documents mean for you
Baltex screens every deposit and payout address and suspends flagged transfers. It can demand ID, a selfie and source of funds, and hold your refund until you comply or a legal hold ends. Swaps need no account, but it logs your IP and keeps records 5–10 years.
Baltex runs automated AML screening on every deposit and payout address, and a flag on either side immediately suspends the transfer and sends it to a manual compliance review. In that review the team may demand government ID, a selfie, proof of address and source-of-funds documents, and the FAQ says that in some cases it will not release a refund until the KYC process is finished. There is no routine identity check to start a swap, so this is flagging-triggered KYC rather than mandatory KYC.
Automated blockchain analytics score both the address you send from and the address you send to; a hit on darknet, sanctions, stolen funds, ransomware, mixers, terrorism financing or fraud categories suspends the transaction. If the compliance team then asks, you may have to give your full name, date of birth, address, passport or national ID, a selfie or liveness check, proof of address, proof of wallet ownership and source-of-funds documents. Refusing usually means they return the deposit to the sending address minus the network fee, but in some cases they hold the money until KYC is complete, and they keep it when a court, regulator or investigation requires it.
Warnings
A flagged transfer is suspended straight away, and Baltex keeps the funds if a court order, a regulator or an ongoing investigation demands it. The KYC FAQ says it cannot give a timeline for when such cases are resolved.
Baltex says it will normally return a deposit minus network fees if you decline KYC, but in some cases it will not release the refund until verification or the review is complete.
The terms call the service non-custodial, yet your deposit lands on an address Baltex controls and is consolidated into its hot wallets, and Baltex decides whether to pay out, cancel or return it.
Personal and transaction data goes to hosting, analytics and support providers, to identity/KYC and sanctions-screening vendors, to banks and card processors, and to authorities when legally required.
Baltex does not process transactions tied to comprehensively sanctioned jurisdictions such as DPRK, Iran, Syria and Russia, and can add others or impose extra checks at its discretion.
How the score was reached
Privacy33/100
Trust37/100
Overall = (privacy × 0.6 + trust × 0.4) / 10, rounded = 3/10, grade F. Each attribute above rests on a clause quoted below or was assigned by a moderator; the rest is what the listing knows.
Attributes10 moved the score
Custodial walletprivacy -3 · trust -5
The service manages the private keys and keeps custody of funds, which requires trusting it.
Despite the non-custodial label, Baltex takes in your deposit at an address it controls, consolidates the funds into its own hot wallets, and decides when and whether to send them on or return them.
“**Fund consolidation** — upon order completion, received funds are consolidated to Baltex's main hot wallet infrastructure”
Terms, baltex.io
Refunds may require KYCprivacy -3 · trust -3
KYC or personal information may be needed for a refund when funds are flagged for AML risk.
The KYC FAQ says a refund is normally sent back without verification, but in some cases the money is only released once KYC or the review is finished.
“However, in certain cases, we can’t process the refund until the KYC process is fully completed or the review is finished.”
Other, baltex.io
Service termination policytrust -4
The provider can terminate access at any time, without notice, at its discretion.
Baltex can cut off access to the on-chain swap interface whenever it chooses.
“We may modify, suspend, or terminate DEX Layer access at any time, including for abnormal usage patterns or legal obligations.”
Terms, baltex.io
Data sharingprivacy -3
Personal data may be shared with authorities or third-party providers for compliance.
The privacy policy states data goes to authorities, and to KYC, sanctions-screening and payment vendors.
“**authorities** when legally required or to protect users, our rights, or the public.”
Privacy policy, baltex.io
May freeze or seize fundstrust -3
Internal monitoring may freeze or seize funds flagged for suspicious activity, stolen or sanctioned sources.
Baltex states it can pause or freeze a transaction on suspicion of illicit activity, on a request from authorities, or simply to finish its own checks.
“We may pause or freeze a transaction if: (i) there are indicators of illicit activity; (ii) we receive a lawful request from competent authorities; or (iii) additional checks are necessary to complete our review.”
Other, baltex.io
Usage can be detected on public blockchainsprivacy -2
On transparent blockchains, use of the service may be publicly identifiable.
The documents state that on-chain activity is public and can be analysed by outsiders.
“On-chain activity is public and may be analyzed by third parties outside our control.”
Privacy policy, baltex.io
Transaction monitoringprivacy -1
Deposits are analysed for blacklisted or high-risk sources; flagged ones need verification.
Every transaction is scored by a blockchain analytics provider on both the incoming and outgoing address, and a hit suspends it for review.
“All transactions are subject to automated AML screening in both directions — the incoming deposit address and the outgoing destination address.”
Terms, baltex.io
Accepts Moneroprivacy +5
This service accepts Monero, a privacy-focused cryptocurrency that provides enhanced anonymity.
No registration neededprivacy +5
Users can access and use the service without creating an account.
Swaps can be started without creating an account.
“We don’t require account registration to use swaps.”
Privacy policy, baltex.io
Legally registeredtrust +2
Legally registered as GGWP Ltd. in Costa Rica.
What costs you most first. Tap one to read the clause it rests on, or what the listing knows, priced as kycnot.me prices it.
What the documents say
If a court order, a regulator or a live investigation requires it, Baltex keeps your money instead of returning it, until that obligation ends.
“Where Baltex is legally required to retain funds — including as a result of a court order, regulatory instruction, or ongoing law enforcement investigation — the refund will be withheld until the legal obligation is resolved.”
Terms, baltex.io
A risk hit on either the sending or the receiving address freezes the transfer at once and sends it to a manual compliance review.
“1. **Automatic flag** — transaction suspended immediately upon detection of a risk threshold breach”
Terms, baltex.io
During a review Baltex can ask for your name, date of birth, address, passport, a selfie or liveness check, proof of wallet ownership and source-of-funds papers.
“Where verification is required, we may request any combination of the following depending on the case:”
Terms, baltex.io
Baltex files suspicious activity reports with financial intelligence units and does not tell you it has done so.
“Where required, we file reports with the appropriate Financial Intelligence Unit (FIU) or other competent authority. We do not "tip off" users about such filings.”
Other, baltex.io
Baltex keeps AML records, KYC documents and compliance decisions for at least five years, and up to ten where a country requires it.
“AML-related transaction records, KYC documentation, and compliance decisions are retained for a minimum of five (5) years in accordance with applicable law, and up to ten (10) years where jurisdiction-specific requirements apply.”
Terms, baltex.io
Compliance logs may include your IP and device identifiers alongside addresses, amounts, hashes, timestamps and your messages to support.
“We may retain origin/destination addresses, amounts, hashes, timestamps, device/network identifiers, and related communications as part of our compliance logs.”
Other, baltex.io
Baltex screens your IP data and wallet addresses against sanctions lists and can block or restrict your access on that basis.
“We may screen IP data, wallet addresses, and other inputs for exposure to sanctioned persons, entities, or regions and may block or restrict access accordingly.”
Other, baltex.io
When a flagged trade is cancelled and a return is lawful, Baltex sends the funds back to the deposit address within 7 business days and takes only the network fee.
“**Baltex does not charge any operational or service fee on AML-related refunds.** The only amount deducted from the returned funds is the applicable blockchain network fee required to execute the return transaction.”
Terms, baltex.io
If you leave out a required memo or tag, or send to the wrong chain, a refund happens only above $50 and can cost a $50 processing fee plus network fees.
“If you fail to include a required identifier (e.g., memo, destination tag), refunds (if feasible) are processed only for amounts above $50 and may incur a $50 processing fee plus network fees.”
Terms, baltex.io
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