Topic: Bittrex. What happen? (Read 1902 times)

Agreed. There are thousand of users, who wait more than a month for a response about frequent verification errors (see here - https://bitcointalksearch.org/topic/bittrex-ignores-thousands-of-clients-2465829). These errors are far from being random or occasional. I still hold some altcoins in Bittrex, and I am trying to pull it from there as soon as possible.

I think they're in trouble. It's not just that they are closing down random accounts and have set legacy accounts to new. Or that their verification is broken to ensure people can't withdraw.

It's that their withdrawal fees are among the highest of all the exchanges - which means they are desperately trying to stop bitcoin from leaving their site.

If you are still able to withdraw, I would do so - perhaps convert to an alt to get around the withdrawal fees. I think the writing is on the wall for them, they are following the same pattern as Cryptsy.

One explanation to what is happening with Bittrex is that they have grown so big and they feel they should start being selective on the people that they allow on their platform now. Another explanation is that they are facing the heat from the regulatory authority and they decide which one to go with either to raise up the standard for those who will trade with them or go out of business as a result of government actions against them. If I am a businessman, I will choose the latter.

They are still operating but a lot stricter now. Those accounts are disabled unless they submit verification documents that they won't like to comply. I just hope that they will not be hacked that will put every of their customer's identity in jeopardy.

I am also confused, what happened to bittrex, until now my funds can not be taken, it's been a month more. make a headache, already complain with email but its zero

I had a 'Legacy' type account on Bittrex (more than 18 months old) which effectively had a limitless daily withdrawal limit. I never had any withdrawal problems in the past and used to deposit and withdraw substantial amounts of btc without any hassles. Recently I deposited btc to trade alts and when i tried to withdraw i discovered that my account type had been changed from 'Legacy' to 'New' and that i now had a ZERO (0) withdrawal limit! Note that at the time I made these crypto deposits (over the last couple of months) there was NO WARNING whatsover that my account type had been changed to New and that I now had ZERO withdrawal capability! (Due to the outcry about this disgusting deceitful behaviour I see Bittrex NOW has a warning once logged in that says you cannot withdraw anything due to being 'unverified'... TOO LATE to put that notice up now!! It should have been put up there the second they changed my withdrawal limit to zero and my account type to New so that i could back then decide for myself whether i still wanted to deposit funds knowing i would then need to give up my privacy and get 'verified'.  These scumbags took that choice away from me and are now holding my funds hostage to extort me for my personal information!
This is totally unacceptable and is nothing short of entrapment and plain theft.

I figured i'd do Basic Verification but this did not work - no surprises there after researching the problem and found that NOBODY is getting it right to complete Basic Authentication anymore... so Basic Authentication is a joke! in fact it's just a trap that Bittrex has laid out in which they use the info you input into Basic Verification against you after they purposefully fail it and then coerce you into doing Advanced Verification ... and then if there is ANY mismatch between the info you entered in Basic compared to Advanced then you are screwed and it can take months (if you're lucky) to get Bittrex Support to manually verify you. Note that there is no option to review your Basic verification info or update it afterwards ... this is by design to trap you into a position whereby you upload all your docs for Advanced verification but get this failed anyway due to some mismatch (no matter how trivial) so still no withdrawal ability even although you have uploaded more than enough personal info to allow identity theft. Do you trust Bittrex with your personal ID documents when this is how they operate??

I refuse to give in to this extortion by Bittrex and am not prepared to do Advanced Verification due to the shady way they went about entrapping me (no warning) into depositing crypto all the while changing my account type and withdrawal limits to zero stealthily without my knowledge! This is the lowest of low i have ever encountered - not even Poloniex pulled this kind of devious sh1t!
I opened a Support ticket regarding this but get no response.
i'll be joining the class action against Bittrex for sure due to their unacceptable shady behaviour and their use of my deposited funds to extort all my personal ID info from me against my will!

If there are any decent human beings left at Bittrex then please respond to my ticket # 484175

Maybe it's acceptable if they have done this for security and government reasons but they should have let people withdraw their investments on altcoins and btc instead of disabling accounts without notification and announcements. They are just making it worst for their site.

It seems to be mainly accounts from the middle east and developing world that have been closed down. If your country is on Trump's list, bittrex will close you down.

What do you mean by say "some specific countries, regions".
I was intending to deposit more coins in Bittrex just before this issue.

It seems most of the accounts targeted are from some specific countries, regions so it is possible that Bittrex focus on those regions for some security, political or government reasons

holy shit hope this will go away 

ı cant withdraw my coins (almost 2500$) for 8 days. ı sent them all my documents to verify my account to make it manuel. because the system doesnt let me do it. ı tried many times that they blocked it. ı opened a ticked and waiting for 8 days. hope that ı will solve the problem otherwise ı cant withdraw my coins...

This is one of the reason on their support site:
"There are other scenarios that cause a wallet to be disabled.  In general, the wallet is disabled to prevent users attempting to deposit or withdraw to a wallet that may not be functioning properly."

Bittrex wrote that it was locked no more than 0.5 percent of users. And what is the usual regular checks from time to time.

BUT what I don't understand is the fact that was blocked by countries such as Russia, Iran, etc.

I would understand if bittrex pressured the U.S. government and requested to cover access for US citizens. BUT what about these countries and why it was blocked these users do not understand?

We cannot just speculate it is geographically targeted. I am from outside the US and I do not have any problem with my account and neither have I anytime before since I have been using bittrex. However, if something like this is going on or possibly I did not log in at that time due to time zone, there must have been a reason why bittrex must have been doing that.

The rules they're trying to enforce go beyond anything that either the Americans or Europeans require.

Also - I'd be very careful about uploading private information to these exchanges. Most get hacked, and then the info is sold on the dark web. With cryptsy, people started getting phishing emails (because the email addresses had been sold). Imagine how much worse it would be if your passport and other ID details were sold.

I am stunned from what I have read. i havent had problem till now but now I am withdrawing all my funds

No, not an accusation it's for real but it's a matter of compliance to what IRS is pushing them. You can still use bittrex as they are one of the most reliable trading platform.

That disabling of account has a purpose and they don't disable a user account if he's got upgraded verification. But if you think it's not worth for you to use them, then don't use them. Everything seems to be fine again if most of their users gain the control again with their accounts.

So is this true? Or just an accusation? Maybe the didnt somehow comply with something. I havent tried bittrex yet but i was planning to its best to read this kinds of before doing so.

What lying? They are business and they have to comply to whatever the country where they are operating certain rules of operation or if they are being pressured.

I have read that it's because of IRS so they are also following what's the standard that what's given to them and for those closed account they are giving an instruction on how they can activate their account.

And if you are one of those people that has been disabled for using their trading platform you really have to follow and comply. US is becoming strict to the bitcoin exchanges / trading platforms.