ATTENTION :
"if any indian holds money in bitx kindly withdraw in BTC "
Update - We have made some progress and will provide another update soon. Funds are unfortunately still frozen and we can’t send or receive Malaysian ringgit at this time. All other features and countries/currencies are unaffected.
Nov 16, 15:30 UTC
https://bitx.statuspage.io/
Update - We have made some progress and this week we are now able to process MYR withdrawals again. However, we still can’t process deposits.
We are still trying to resolve matters and are in contact with various banks, but at this time it seems unlikely that we will maintain our bank account with CIMB.
You may have either Bitcoin, ringgit or both currencies in your BitX account. We need you to either withdraw your Malaysian ringgit from BitX to your bank account or buy Bitcoin with it by Thursday 1 December, 2016.
Click here to open your wallet: https://www.bitx.co/wallet/
Note that your Bitcoin wallet will remain unaffected. You can still receive, send, and store Bitcoin with BitX.
WHAT YOU NEED TO DO RIGHT NOW
We need you to log in to your BitX account and make sure your bank details have been entered correctly. After that please initiate a withdrawal for the full amount in your MYR account.
You find detailed instructions on requesting a withdrawal here: https://support.bitx.co/en/support/solutions/articles/1000168403
If you would like to buy or sell Bitcoin, you can find instructions here:https://support.bitx.co/en/support/solutions/articles/1000168398
WHAT WILL HAPPEN WITH YOUR BITX ACCOUNT
Your Bitcoin wallet will still operate as normal. You can and will still be able to receive, send, and store Bitcoin. However, you won’t be able to deposit and withdraw MYR, or buy and sell Bitcoin for MYR for the time being.
WHAT ARE THE NEXT STEPS?
We are working on solutions with other banks in Malaysia. We have also created a status page to keep you updated the latest news regarding this issue: https://bitx.statuspage.io/
We’d like to thank everyone once again for their patience and support during this frustrating time.
Team BitX
Nov 28, 13:41 UTC
Update - We're happy to announce that Malaysian bank withdrawals from our bank account to customer bank accounts will start shortly.
We are processing withdrawals in different batches, but they should be completed in the next business day.
Please don't send deposits to our bank account at this time. We will post another update as soon as things change. Thanks for your continued support and patience!
Nov 21, 10:31 UTC
Update - Our bank account functionality is temporarily being reactivated, in different phases. Although payments can be made to our bank account, please don't send ringgit to us yet. Due to technical reasons, deposits made won't show up in your BitX account yet. We are prioritising the pending withdrawals from our bank account to our customers' bank accounts. We estimate withdrawals to start early next week. We will send separate updates about withdrawals and deposits as they become active.
We'd like to thank the Malaysian community again for all their messages of support and their patience with this unexpected incident.
Nov 18, 15:40 UTC
Update - We have made some progress and will provide another update soon. Funds are unfortunately still frozen and we can’t send or receive Malaysian ringgit at this time. All other features and countries/currencies are unaffected.
Nov 16, 15:30 UTC
Update - Trading fees have been reduced to 0% on the BitX Exchange in Malaysia and will remain so until bank deposits and withdrawals are restored.
We haven’t received any feedback from the bank’s compliance department about account status yet, but we’re still in the process of resolving the issue with their management. We will update here when the status changes.
Nov 15, 04:13 UTC
Update - For reasons still unknown to us, payments to and from our Malaysian bank account were temporarily frozen without warning on Wednesday 11 November. Initial indications are that this was due to a miscommunication that we are in the process of resolving.
At this moment, we are still unable to accept any new customer deposits to our bank account. We are allowed to move the funds to another BitX bank account so everyone’s funds are safe, but at this time we also temporarily can’t pay any ringgit directly from our bank account to our customers’ bank accounts.
We have a team on the ground in Kuala Lumpur working with the bank’s senior management to get this matter urgently resolved.
We are operating business as usual across many other countries and markets and this unforeseen event in Malaysia has unfortunately been out of our hands, but the entire team is focused on resolving it as a matter of urgency.
Our systems have not been compromised and this is not a hack. All Malaysian ringgit and Bitcoin we hold in our custody are safe. All our systems for buying, selling, trading sending and receiving Bitcoin are operational.
If you need an interim solution, we suggest you consider the following options:
-If you are able to wait for a few days given it is weekend now and the local Malaysian banks are closed, we’ll provide another status update, hopefully all will be resolved soon.
-If you have a withdrawal pending on your account, you can cancel it and convert your ringgit back to Bitcoin (which can be freely moved in and out of BitX).
-You can buy, sell, send, receive and trade Bitcoin as usual.
Note that we have bank accounts in many other countries and we have other ways of getting funds back to you, even if we had to send it from abroad. Again, all options will require some patience, but we’d like to repeat: your money is safe.
We’d like to thank everyone for their patience (and support!) during this frustrating time.
Nov 11, 10:29 UTC
Identified - The issue has been identified and a fix is being implemented.
Nov 11, 10:29 UTC
Investigating - We're seeing some technical issues with our bank in Malaysia which is resulting in deposits and withdrawals being slow. Our team are aware of this and are working with the bank to see the issue resolved.
Apologies for any inconvenience.
Nov 9, 12:29 UTC
Topic: malaysian leading bitcoin exchnage Funds are unfortunately frozen (Read 1260 times)
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