Topic: Bittrex. What happen? - page 2. (Read 1902 times)

People get panic pretty fast and always end up sending unnecessary wrong messages rather than relaxing and taking their time to see where fault could have generated from.

Lots of new regulations are introduced most times by regulatory authority and to keep the system on, and not end up getting shut down while users lose their funds, then they always take precautionary measures. Unverified accounts were targeted the way I ended up seeing it.

it is best to stay away from them in my opinion. there is risk of another Cryptsy or Mt Gox happening and with all the banned-for-no-reason accounts they blocked a large amount of money that they will probably never pay back.

on top of it you should be aware that if you use bittrex all your account details and all your activities will be reported to the authorities. because the is no other reason for asking for documents like this and forcing people if they weren't working with the 3 letter agencies

I hope we all understand that Bittrex is in the US and we all know how US can be with compliance. However, i do not see a cause for alarm since bittrex has already come out to state the reasons why they decided to lock some accounts. For those who may need it, here is why;


However, I feel the users of this account should have been communicated to via email, instead of just putting a halt to their account when we are talking about assets/cash here. Things are not done that way and stuffs like this can start making people loose trust and start looking for alternatives.

The problem is, nobody wants to have 50 altcoin  hardware wallets on their PC.

If's fine having a bitcoin wallet (just make sure you have a LOT of memory on your machine). But when you have to start adding alt wallets it just gets too much.

This is their responds to the complainants and cointelegrph https://cointelegraph.com/tags/bittrex

Im not verified in bittrex so i myself afraid that my funds may locked.

Currently most of members can withdraw this is implementing for new users because regulator authorities bringing new laws for these exchanges hope this will permanently set for all old and new accounts in near future not only in USA in other parts of world also

Now I'm really concerned about the accusations of people about Bittrex, I have a couple of coins and BTC there and when I read some negative feedbacks about accounts being disabled and can't withdraw I tried to log in to my account but I had no problems with it nor was my account disabled but I'm afraid if I'm not able to withdraw or the next time I log in I would be disabled too, I hope they fix this issue right away.

I had same message and I could withdrew my coins.. No problem. so far

I was too earlier today and when I eventually did was met with this terribly misleading message (if you have a pre-August account it seems):



They say you can't withdraw if you're unverified (which I am as I refuse to put in personal details into crypto related stuff except as a last resort) but that's not quite accurate, for me at least. I successfully withdrew my BTC balance there without putting in all those details just shy of DNA samples and though it did take a while, it's fully confirmed in my wallet. If you see that it wouldn't hurt to try.

Better safe than sorry, withdraw your funds if you can, wait until the dust settle. It seems to be geographical target purge, most of the accounts targeted comes from outside US.

The cointelegraph article is strikingly similar to what happened with Boolberry. The coin was trading over 300BTC in daily volume on an uptrend and as soon as it hit 20k Satoshi a delisting notice was triggered. A week prior to that there was a flash crash that dumped from 15k down to 3k just like what was described in the CT article. As soon as the noticed triggered the market crashed. I was wondering who was responsible for the flash dump then when I saw the notice it started to make sense it was them. The cointelegraph article sites a similar strategy with other altcoins.

I joined their slack channel to see if the issue could be resolved instead they ignored my messages and Bittrex-Richie kicked me out of the support channel. Immediately after they gave me the boot, they proceeded to post their delist guidelines on the boolberry thread with a sockpuppet account. No reasoning, no attempt to address whatever concerns they had with the project just a big FU.

https://bitcointalksearch.org/topic/m.21121918

I've always been a bittrex supporter but they way they treated me was completely unprofessional and now they have extended that courtesy to the general cryptocurrency community. The best thing everyone can do is withdraw funds from there and boycott their platform and any company they are associated with. They got to where they were at by having open communication with communities and developers on IRC.. now that they have some volume they basically are saying fuck you to everyone. As a crypto community we should say the same back.

This is very reminiscent of Cryptsy and Mintpal right before they gave everyone the finger.. be safe and get your funds off this bullshit exchange. In a few months and this exchange will be dead.

or it mean that bittrex exchange is lying.

I have seen that on the cointelegraph facebook page and there are thousands of accounts that are disabled surprisingly.

And it's quite odd that they aren't disclosing before what's the real reason behind the closure of many accounts without any reminder or short notice to their traders.


And that means that thousands of users are just their 0.1 % users which means there's really a lot of users of bittrex.

They just released an official statement over concerns regarding disabled accounts. Statement is pasted below.

"We would like to address recent reports regarding Bittrex account suspensions.

We occasionally conduct compliance reviews and are working vigilantly to protect our service and our users from harm. As part of a compliance review, we have temporarily suspended certain accounts pending the completion of the review. The total number of suspended, closed, or banned accounts is very limited: less than 0.1% of the total accounts on Bittrex.  More than 99.9% of Bittrex accounts are unaffected.

Any reports that Bittrex miscalculated or misapplied its exchange fees, that there is a security problem with the exchange, that Bittrex lost any coins stored on users’ behalf, or that Bittrex is banning people trying to access Slack to discuss the status of their accounts are incorrect.  We are committed to making Bittrex a strong, safe, and compliant exchange where people can securely participate in the digital currency economy.  We ask for patience from our highly valued customers.  As for us, we plan to “keep calm, and carry on.”
"

OP did, but still haven't receive any response yet.

Never heard or know about that. My bittrex account was successfully upgraded and doesn't need to verify ID and photo unless we want to upgrade enchanced level.

I would be careful with accusations. I still can trade on bittrex, and so can everybody I know who has an account. If they had to leave with million of dollars, they wouldn't do such a half baked attempt.. let's wait some days before jumping to conclusions.
Locking coins for mainteinance yes, they do, and that's annoying, but that's about it.

No one I have talked with have had their Bittrex account banned/locked

This process is already in working if you want higher withdrawals then you surely need to verify your account and its taking  no time I already completed my verification within few minutes and they are also doing some other developments just because of this some issues on but best thing never keep your coins on any exchange just trade and withdraw them for your own safety and money's safety

I think they are planning to limit the withdrawals in order to secure their exchange, some where i read who has more then 1000$ in the account they need to verify their account by submitting the Govt id and Photgraph with the signature below.

https://cointelegraph.com/news/bitcoin-altcoin-exchange-bittrex-eyed-with-suspicion-due-to-thousands-of-mysterious-account-closings

First they were laughing at us, called us "FUD spreading newbies", now they start to panic...