Topic: Bittrex. What happen? (Read 1887 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.

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...

There might be something they violated on the policies, I have been using bittrex for 2 years but my account is still active now.
I haven't experience any issue with the site so I have not contacted a support once, I just make sure I only use my one IP address so there would be no compromise. Maybe there is a specific reason why it was disabled and once you proved you have not done anything wrong, sure your account will be back.

Most exchange will keep cover their problem from users, but they will take action to solve the problem. We don't have to panic about it, because that's the risk and also will give us experience about how good the exchanger?. We need to prepare if the worst thing happen ( scam ) and that's why we need more than one place ( exchanger ) to support our activity. Keep patience and try to take our fund to protect asset we have. Good luck.

afraid to log into my account....there must be a reason why they are doing that...

The bittrex exchange already turned into the shady exchange as fuck because my account already disabled and i already contacted the support and i got nothing from there.
This just like polo v2 because there is a lot of complaints.
What the hell already happened with bittrex.

I just withdraw some BTC today. No problem so far

Have you tried contacting them? also try posting to reddit

I believe this is not new. Almost everyone advices never to make any exchanges as your storing wallet. Use the exchange only for exchanging. Why does anyone would trust someone else to store their wealth? So many cases we have seen and yet people are still committing the same mistakes over and over again. You have given bittrex the power to act like god of crypto so now they are behaving such way. Take that power away from them they will treat you better. However it is like a new trend these days, no exchange last longer than a certain period of time. I wonder what is actually causing this? Are they investing someone elses coin in something else? mismanagement? poor handling of peoples fund? I have no idea and i am not accusing. I am just wondering, how many exchanges have gone down now. It is time for a trustless exchange. These people controlling exchanges will becoming dinosaurs very soon if they do not improve.

A few days ago my Bittrex account was also disabled, I do not know what caused it.
Luckily there are no funds stored there so I do not lose.

It's like a sign of mt.gox v2 but i hope i'm wrong. So many scam accusations about bittrex recently here https://bitcointalk.org/index.php?board=83.0, even cointelegraph make an article about it. It's better to not stored many coins on bittrex for now until the problem solved.

There is lots of users on bittrex exchange, they say their account disabled. no support from bittrex. Cointelegraph says to receive many complaints.

What do you think happen at bittrex right now?