Topic: bitfinex swallowed 20k usd (updated) (Read 238 times)
updated 1 st post
but one month is way too long for such transaction.
It depends on what happened. What banks do is mostly this;
Bitfinex's bank $20,000 -> intermediary bank -> in some cases there is another intermediary bank -> OP's bank account.
It highly depends on where the money is stuck, which as you can imagine, can take a long time with how shitty the banking system is set up. For every action you are forced to ask permission and wait one or more business days to get any sort of response, and in case the intermediary bank doesn't think you are worth their top priority, you'll end up waiting a long time.
It's much faster to fly over to Bitfinex's bank from any place in the word, pick up the money there, and fly back.
on 29 august 2018 i withdrawed 20050 usd from bitfinex to my local bank account i demanded express wire they took 200$ just for this then waited it to come next day but nothing happened then 1 week passed then 2 weeks , by that time i mailed them about situation and opened ticket they didnt even response, after 3 weeks they replied there is a problem at international transfers and suggested to wait money to come then resolve fee problem, infact main money is not around i cant ask my fee but stiuation is very wierd, i think they have still problems with wire transfers but also their support is very bad 
(when money came i ll update)
(when money came i ll update)
Bitfinex has a very bad reputation when it comes to USD withdrawals. It was probably just last year (or even this year?) that they've had major issues with one of the banks that they worked with to process these transactions.
They're also pretty shady in terms of their association with Tether, which is why I personally don't use them anymore even though they are still pretty popular.
Your delay is definitely not the first time that they've had the issue, but the attitude that is shown by support by your account at least is pretty unprofessional. They don't seem supportive at all with your issue. Guess all you can do now is wait, and keep communications with support until they send through the wired funds. 1 month for a withdrawal that was supposed to be completed within hours is not something that is acceptable, but since you chose to use them, you'd unfortunately have to put up with this.
This is a warning to all others looking to use Bitfinex as well, I remember back when I used them, I had a crypto deposit delayed for days as well.
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Even though Bitfinex is definitely not the most trustworthy entity, I think that it's very unlikely that they would selectively scam you just for this small amount of money.
Really?Think twice...
Big crypto trading platforms like Bitfinex can scam(and they actually scam) people for way smaller sums.
It's very risky to deposit coins that worth more than 1000 USD in every cryptocurrency exchange(even the big ones).In the actual case there's no evidence that the OP is scammed,but one month is way too long for such transaction.
on 29 august 2018 i withdrawed 20050 usd from bitfinex to my local bank account i demanded express wire they took 200$ just for this then waited it to come next day but nothing happened then 1 week passed then 2 weeks , by that time i mailed them about situation and opened ticket they didnt even response, after 3 weeks they replied there is a problem at international transfers and suggested to wait money to come then resolve fee problem, infact main money is not around i cant ask my fee but stiuation is very wierd, i think they have still problems with wire transfers but also their support is very bad
(when money came i ll update)
(when money came i ll update)
Even though Bitfinex is definitely not the most trustworthy entity, I think that it's very unlikely that they would selectively scam you just for this small amount of money.
More likely than not, they are actually having some problems with the international wires. Unfortunately, they've had various issues with wiring withdrawals before and this seems to be a continuation of that.
It's unacceptable though that they've ignored your tickets for so long and that there were no communications, and that I think is the ultimate issue with them here. They should at least let you know about what's going on as soon as a problem occurs and you request help from them. Furthermore, I think that you should negotiate with support to waive the $200 or 1% fee which you paid due to the fact that the initial promise was for withdrawals to be sent within 24h with that fee, which is a product you didn't get.
Once you have got your funds, please make sure you use an exchange that's properly licensed, which isn't the case when it comes to Bitfinex. I know it's one of the largest exchanges, but there are much better alternatives than that.
Processing Bitfinex USD transactions requires banks to comply with the laws within their specific jurisdiction, and since Bitfinex isn't really compliant itself, difficulties will continue to happen pretty much for ever.
It looks like this is an old issue from bitfinex where other clients experienced delay withdrawals directly into the bank or international bank transfer suddenly blocked.
More reason to ditch that exchange. If you continue to have banking difficulties for a longer period of time, you know that not much is going to change, especially with how they don't have any licenses.Processing Bitfinex USD transactions requires banks to comply with the laws within their specific jurisdiction, and since Bitfinex isn't really compliant itself, difficulties will continue to happen pretty much for ever.
What I see here is not the case of Bitfinex swallowing $20k. $20k to them would probably be the least of what they would want to soil their name over and since its a reoccurring issue, I guess it's something they would have to fix eventually. By next week its going to be one full month that your fund would be hanging which means you have have exercise enough patience and there is need to start taking some daring actions because I believe to move that amount, you should have satisfied every of their KYC rules.
Go beyond the forum to get their attention. Their own forum, the chat no,, Twitter to call them out, find their ANN thread or someone you know they have connection with to hear your case and I believe they will find a solution to it real quick.
Go beyond the forum to get their attention. Their own forum, the chat no,, Twitter to call them out, find their ANN thread or someone you know they have connection with to hear your case and I believe they will find a solution to it real quick.
It looks like this is an old issue from bitfinex where other clients experienced delay withdrawals directly into the bank or international bank transfer suddenly blocked. Look at this post from bitfinex before https://www.bitfinex.com/posts/203
Since, they replied to your ticket issue they might solve the issue in a few days if not better to request for refund and withdraw your money into bitcoin instead so that you can withdraw your money in other exchanges.
This isnt really new anymore and lots of users do really have that kind of issue.The only thing op can do is to wait up. Requesting for refund would it seems impossible into this kind of scenario. Since, they replied to your ticket issue they might solve the issue in a few days if not better to request for refund and withdraw your money into bitcoin instead so that you can withdraw your money in other exchanges.
Seems to me the best you can do at this moment is either wait or request Bitfinex to possibly stop the wire transfer process, and perhaps use another exchange or service to get funds wired to your account. Seems like they really can’t do anything about this; consider a P2P transaction if you still want to get a bank wire. The funds likely still haven’t moved yet, so there shouldn’t be too many issues if you want to get your funds back.
It looks like this is an old issue from bitfinex where other clients experienced delay withdrawals directly into the bank or international bank transfer suddenly blocked. Look at this post from bitfinex before https://www.bitfinex.com/posts/203
Since, they replied to your ticket issue they might solve the issue in a few days if not better to request for refund and withdraw your money into bitcoin instead so that you can withdraw your money in other exchanges.
Since, they replied to your ticket issue they might solve the issue in a few days if not better to request for refund and withdraw your money into bitcoin instead so that you can withdraw your money in other exchanges.
on 29 august 2018 i withdrawed 20050 usd from bitfinex to my local bank account i demanded express wire they took 200$ just for this then waited it to come next day but nothing happened then 1 week passed then 2 weeks , by that time i mailed them about situation and opened ticket they didnt even response, after 3 weeks they replied there is a problem at international transfers and suggested to wait money to come then resolve fee problem, infact main money is not around i cant ask my fee but stiuation is very wierd, i think they have still problems with wire transfers but also their support is very bad
(when money came i ll update)
It came exactly same amount to my bitfinex account back.
They told me to wait i said i no longer need at local account so cancelled , after 10 days it came to bitfinex account (yesterday).money hold 1 month only lost time but was not going to do anything anyway, i was trying their service is it working like old days and it seems not. Seems like they cant solve their wire transfer problem , i am sure a standart wire transfer will took a month or more, that is literally you can convert your usdt to usd easily, if there is a jam you may wait years possibly to convert it.
I hope market turns TUSD from USDT fast
(when money came i ll update)
It came exactly same amount to my bitfinex account back.
They told me to wait i said i no longer need at local account so cancelled , after 10 days it came to bitfinex account (yesterday).money hold 1 month only lost time but was not going to do anything anyway, i was trying their service is it working like old days and it seems not. Seems like they cant solve their wire transfer problem , i am sure a standart wire transfer will took a month or more, that is literally you can convert your usdt to usd easily, if there is a jam you may wait years possibly to convert it.
I hope market turns TUSD from USDT fast
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