Topic: FRAUD WARNING: Bitstamp is holding my money hostage and ignoring me for 14 days (Read 2304 times)

Im actually scared on such issues when it comes exchanges especially putting a large amount of money. Indeed i have trade small amount in bitstamp but suddenly dont have any back up to recover my account..  I don't know if there's a mistakes in my information , but i actually remember my emaill and password in it..but it didn't let me in to manage my account again.. Maybe a reason because its been almost year and there's a lot of update happened and i miss it all to secure my account?  If thats the reason. im not interested anymore infact it's just a small amount.. So move on.. Lol

FRAUD WARNING: Bitstamp is holding my money hostage and ignoring .Crime Company
Dear, Bitstamp return my money Thieves
sorry but this answer does not suit me i want my money withdrawn from you. You don't make enough effort to return my money to you, that's all. You are hiding the perpetrator and you are an accomplice in this scam.

Attention !!! Attention !!! Attention !!! Attention !!!
Avoid working with Bitstamp, they are thieves, swindlers
Be careful with Bitstamp this is a company that robs credit cards and I would be very careful with what data you provide because your cash accounts will be reset without your consent. If you receive an SMS or email saying that Bitstamp has made an unsuccessful attempt to take a sum of money, make no mistake, it will not stop until it withdraws your last cent. My advice is to call the bank immediately and block this card. Stay away from Bitstamp, this is a company that patronizes thieves, swindlers and hackers.

Nah. That's complete and utter rubbish. Bitstamp has always been Slovenian and they've dicked around with maintaining a postbox and brass nameplate in various EU jurisdictions over the years.

I have an account at Bitstamp, and when I want to deposit, it displays GORENJSKA BANKA, which is a Slovenian bank. It might be that they use more banks within the Euro zone, but this at least shows that it isn't Bulgarian.

And another thing, Bitstamp isn't located at Bulgaria. It was a Slovenian exchange at first, but due to legal reasons, they are currently based in Luxembourg, where they were also granted their license.

That license allows Bitstamp to function as money transmitter, which is something a lot of the current exchanges can't say. They almost all are illegal money transmitters, which at some point may cost them badly.

I don't think that is true is it?

their bank is not there i am sure it estonia or somewhere like that.

Bitstamp is located in Bulgaria and I think they bank there too.

Bulgarian banks blocked all exchanges. See

https://www.reddit.com/r/btc/comments/7i6eiq/banks_in_bulgaria_blocked_accounts_of_all/

I expect Bitstamp is scrambling to find another european bank to deal with them.

Is there any update about this now?
Because I really want to know, if there is any.
I have been hearing this kind of review about Bittrex but not with Bitstamp.Though both  exchange are good.
I feel  it could be that Bitstamp found something with your account, which is why they hold your Bitcoin.

Now I feel there is no exchange to be trusted again. The moment you feel you can trust any of them, you hear an update that makes you have a change of heart.
Please, let's  all try and learn how to avoid leaving our coins in an exchange sites to avoid stories like this.

They sent me an email and closed my account three years ago, which I did not notice. Recently, I noticed that I left bitcoins in that account and forgot them for years. I cannot login to my account anymore. I sent emails to their support email address but got nothing replies until now. Do anybody know what can I do about this?

Seconded, which the things you do said was true which this is one of the most good exchangers I do like. Fast support and Fast service back in the past but now seems they are fading and do already have some issues specially on deposits. Confirmation is too long and haven't been received any words from them which is very unusual to happen which is entirely different when it was before.

Anyone with direct contact information for bitstamp management team or ceo??

they are not prepared for this increase in usage.

totally under staffed and pathetic.

I am awaiting a wire for over 1 week

They need to increase their performance because right now it is totally crap.

I have used them for years but will 100% be looking elsewhere if they don't get things moving.

That is strange, Bitstamp is legit and one of the most trustworthy exchangers. It's not their habit to keep users without support and not solving the issues. The thing is that they are obliged with very strong AML laws and rules imposed by regulators so they have to obey certain procedures when it comes to any transactions they have some doubt or suspicion. I'm sure they will get in touch and you don't give up, just try to establish contact with every possible channel.

Can you share the procedure to get the funds back?

You got lucky that they returned your deposit! they are not returning my deposit! They terminated my account and sent me back my account funds but they didnt return back my large deposit! Anybody can help with this? the support doesnt answer anymore, i tried everything...

Hi Crper, please could let me  know if you fix the problem with Bitstamp? i have the same problem! Thanks

I believe they are doing the same to me.  Do you mind sharing the procedure you followed to get back your funds?

Natwest state they charge £7. Rather less than £276.21. The exchange rate loss only occurred (if it did occur) because they held my money hostage until they decided to terminate the account, then refunded it when the rates were not equivalent. That is theft, no matter how you look at it.

http://www.natwestinternational.com/nw/personal-banking/travel-and-international/g50/international-payments/receiving-international-payments/bank-to-bank-electronic-links.ashx

They have no control of your receiving bank's fees. It's quite possible that money was eaten up by various exchange rates. Some banks charge outrageous amounts.

I think Bitstamp have stolen at least £276.21 from me following the unexplained termination of my account immediately following a large deposit.

I've been systematically ignored by their discourteous, elusive and evasive support team leaving me furious and extremely vexed. 

I hope someone here can help me find answers.

Following years of using Bitstamp without problem, on the 15th August 2017 I made a deposit of £7703 GBP via international transfer to their bank account in Slovenia. The money left my bank account on the 16th August, but was never credited in Bitstamp (though, via account details I retrieved via a Subject Access Request, I can see it entered their bank account on 16th August.)

On 23rd August  2017 (they had held my money hostage for a week by this point, while I watched the price of Bitcoin rise by ~ $500) I received an Account Termination Notice from Bitstamp stating my account had been terminated. I contacted Bitstamp support via email, phone, Facebook and Twitter to ask what had caused my termination, and when I would receive my funds back.

I was completely ignored - with not a single reply to my many emails and messages.

Eventually, following advice I found on this forum, I submitted complaints to the Commission de surveillance du secteur financier in Luxembourg, plus a complaint to bitstamp copying in the CEO, plus a subject access request, and I finally received a response saying they couldn't tell me why my account was terminated, and that I would have my deposit refunded, and my account balance returned. As I could not log in to Bitstamp, I could not verify my outstanding balance.

After waiting another week, and seeing the price of Bitcoin rise further, I received 2 payments from them:

30th Aug - £348.21 – presumably this was my outstanding bitcoin balance, though I cannot verify
30th Aug - £7,426.79 –I think this is the refund of the deposit I made, except, it is £276.21 short of the £7703 I deposited.

I have contacted Bitstamp support to ask why has my deposit not been returned in full, and I have been ignored.

Bitstamp actively advertises itself as being fully regulated and being granted a license in the EU as a payment institution by the CSSF.

Unfortunately their customer support is completely inadequate for the types of customers they are serving and It seems there is no accountability for their actions.

I've checked the fee schedule https://www.bitstamp.net/fee_schedule/ and (in spite of the fact that charging any fee whatsoever for a deposit only to immediately terminate an account is utterly scandalous, outrageous larceny) I cannot see how any application of fees could sum the £276.21 shortfall.

There is a 0.05% deposit fee on international transfers that would total £3.8515, and if I have been charged all the 'NON-STANDARD PROCESSING' fees (which would be disgraceful), they would total $170 USD.  Nowhere near £276.21.

Could currency exchange rates somewhere along the line be to blame, due to the fact that they held my deposit hostage in a different currency while they were fucking around terminating my account? If this is the case, it's shameful.

I've still no idea why they terminated my account. I see, from the subject access requests, that my passport on their system had expired, perhaps that was it. Fuck knows.

I cannot believe my account was closed for no obvious reason, but I simply cannot accept that immediately prior to that, I gave them money, and they skimmed off the top before handing it back.

It's absolutely, utterly, dispicable. And they haven't even got the courtesy to acknowledge me.

Do not use this company.

I approve of solidity. I don't approve of their excessive approach. If I had significant sums there's no way I'd trust them with it in case it triggered their paranoia. Once you're verified that should be enough.

I've traded way more through conventional stock trading sites and they never wanted anything more than the usual ID and I never heard from their 'support' again.