Topic: WARNING - BITTREX lock accounts (Read 293 times)

I am using Bittrex for a long time, and it was my first trading platform from where I have learned. The account there verified with a passport, there were withdrawal limits at the beginning for KYC implementation. So, by force Inhad to submit KYC to get withdrawal. Creating many transactions will cause spend high fees. Since then I hadn't face any issues till now. You would get a quick response from their official Telegram chat. If you did not abuse anything then your account is supposed to not ban. Just make sure you doing nothing wrong. Also, it would help if you mention why they blocked your account. Have you received any details from them?

They probably will ask you for KYC information to unblock your account just like tons of other people.

Bittrex just like HitBTC is one of the shadiest exchanges there is, and all these problems with blocking accounts and such is because they're really trying hard to find an excuse to freeze your funds and refuse withdrawal.

I hope they unfreeze your account without having to go through KYC verification, but if they did ask for that you have two options:

1. Leave your funds there and totally forget about it if the amount is small

2. Do KYC as requested, and keep in mind that they can just keep asking for more personal documents(like source of funds for instance) as well, so don't ever think just because you sent them KYC information they will just stop there and let your withdraw, because again their ultimate goal is to make you tired of all these processes and verification so that you let go of your funds.

I stopped using bittrex when they demanded numerous selfies (my left and right profile, front facing, holding an ID). Is this a movie audition or something?

No bank demands such ridiculous verification. Are they trying to create a 3d image of our heads?

They said they won't allow me to withdraw whatever I had on their stupid exchange if I won't give them what they demand, so that's extortion and theft in my opinion. Choke on it bastards!

I used Bittrex and did not have problem with them but I knew of scam accusations on them (funds hold, KYC failed, etc.).

The collapse of Poloniex then Bittrex in 2017 gave a perfect and open change for Binance to take over the lead position in the crypto market. If Poloniex and Bittrex did not self-destroy their exchanges in the days, Binance would have more challenges to move up on the top. Binance was born at the right time when people need alternatives for Poloniex and Bittrex. CZ and Binance gave them a very good alternative at the days. It is not only about products on their exchanges but also about how they run airdrops, giveaways and attract huge number of users to their exchange. Most of people don't care much about privacy, security and their first priority is money. Binance gave them and of course after having some experience on Binance, they would not find reasons to leave (from 2018 till now).

Bittrex is one of the biggest scam exchanges of recent times. They have done this in the past on a much larger scale involving thousands of users and millions of dollars worth of cryptocurrencies which they effectively stole from those users by shutting down their accounts and preventing them from ever getting their funds out. Obviously it was profitable for them and they keep doing it but at a smaller scale because their exchange lost almost all of its users and credibility.
You can see all the negative Trust left by bitcointalk members on the Bittrex announcer on this forum: https://bitcointalk.org/index.php?action=trust;u=96390

This happens. As a matter of fact, it happened to me once, although not with Bittrex but with a local wallet.

Excuses or not, you have no choice especially if you have a significant amount of funds on the line. You can do nothing else but comply. Of course, you're right. Bittrex has nothing to do with whatever sources your funds are coming from. You owe Bittrex no explanation whatsoever. But this is not Bittrex acting on its own. This is Bittrex just complying with the law.

You are correct. Only governments would demand this from you, and it is actually the government that is asking for it, only through Bittrex.

So? What happened?


Lol, source of income are you serious? You know they just excuses right? That info has nothing to do with them and is for you the taxman and your government to know. You don't have to explain to an exchange where your funding is coming from because paying tax is done by you not the exchange. Only the government would need to know such things.

Much better to use DEX I have never seen any reason to use CEX and don't understand the appeal when it goes against everything crypto.

Bittrex has gone downhill after they removed legacy accounts.

They are super tough with KYC and if you aren't willing to provide whatever they ask you to (and this includes proof of income, source of funds, etc.), then you shouldn't use them whatsoever. Stick to Binance, and even then as it is a CEX there is a certain degree of risk.

All you can do rn is to comply with whatever conditions and requests they give out, and be patient. Their support team definitely is not the best so you need to give them some time.

Did you receive an email that your new ticket has been closed already?

What's with the but? do you know that it's not recommended to store most of your bitcoins in exchange but you have some reasons? are you a day trader?

IIRC, that was the year 2016-2017 when they've started to be less recognized due to the implementation of KYC. CMIIW with that.

by accounts, this warning must have two or more accounts locked by bittrex. you need to contact the support team before saying your words.

anyway, not your keys, not your coins and if  you don't have enough docs and not read them TOS you can be lost your money

It is not something new, no need to give warning like all hell has been let lose, bittrex locked my sis account for months back in 2017 and when the account was eventually unlocked some of her assets were sold and somethings not in place,
Bittrex is no longer what it use to be, I remember bittrex was like the binance of this day, many project would give anything to be listed on bittrex, ummm... how the mighty has fallen.

For anyone that thinks CEX exchanges are safe and that KYC will magically make a website more "legit". I use CEX exchanges and I have never had this problem a single time. The first time I was ever locked was with OKex and I thought they were a scam and it annoyed me that they were so popular but I logged into my account a couple of months ago and I was able or withdraw and do what I needed to with 0 issues. It's actually a really nice exchange. Any exchange that wants you KYC for small trades is just being crazy. People launder massive amounts of money, not small amounts we trade. The fact that they lock fully verified accounts is very scary.
It also amazes me how people just hand their details out. With crypto to fiat exchange, some people use faceless organizations that ask KYC. Why would you do that? The exchange I use has an office locally and I know exactly where it is. It is a properly verified financial web site. The reason is that they are trading with fiat which is government-owned they, therefore, must abide by government standards. It's nothing scary though, they won't watch you like a hawk or lock your account. In fact, they were very helpful with me setting up my silly bank account. They even phoned the bank on my behalf.

When regulations are looked at and handled logically there is nothing to fear because a legit exchange will not lock you out of your funds or do things without telling you. This is an underhanded classic scam-like behavior and the scary part is coming from people who know who you are. What laws are protecting you? I'm protected by local laws and I feel safe trading.

The way I do it is there are tax categories and if I convert bitcoin to fiat under the threshold I don't pay tax. If for some reason I need more fiat I simply pay the capital gains tax on that particular trade. I simply save the blockchain transaction of the best price difference to pay as little capital gains as I can.

For example, I will not sell a coin from 2010 and pay 99.99% capital gains. I rather spend that where bitcoin is accepted and then I will sell bitcoins I got recently so the capital gains gap is smaller.

I'm still not sure how large bitcoin purchases will work though. If I buy a brand new car with bitcoin how will I explain this? I believe the correct thing to do is take the value of the bitcoin from the time you had it till the time you used it to buy your car. I think you would need to then subtract that % different from the total cost of the car and that will be what you pay in tax. Small purchases are fine and do not bring any attention.

I promise you the government doesn't care if you just bought a new TV. They are not looking for that sort of thing they have limited resources so they focus on big things like the purchase of cars, bikes houses, and most things that fall under the luxury category.

So this using "tax" "money laundering" even more ridiculous "terrorism" stuff is crap used as an excuse for scammers to screw the average man over and does nothing to protect anyone from actual criminals who are most likely laundering their ill-gotten gains and never being locked meanwhile people like us are.

This is strange, is there any reason why your account was blocked? Bittrex won't lock an account without any reason. Try multiple times to reach out to them so you can know why they did that and what you should do to unblock it.

You are right but sadly many crypto related exchanges doing these tricks for years they never feel shame for their acts like these Bitterx few years back locked thousands accounts and blocks millions of USD worth funds without any reason as they was changing few polices but in OP case we need some more update what is main case why this all happen.

What is the problem they gave you when they sent you an email on the account block? I guess it can be KYC-related issue. I said below, try to re-contact them in the same support ticket.

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It is not a good advice. On the aspect of customer support, the more support tickets, the heavier burden on the system and such duplicate support tickets will only create pseudo-burden and congestion on the Customer support system.

Try to re-contact with the Bittrex's Customer Support in the same support ticket is better. This way, you don't create duplicate tickets and don't create pseudo-congestion.

Sure. It is the very old warning that "Avoid to store your bitcoin on exchanges, store it on non-custodial wallets, on your devices or equipments". If a person want to trade, let's go with exchanges but try to decentralize capital on a few good exchanges. Good means Trusted, clean history on hack, security, no shady operations (or wash volume, liquidations, sudden maintenenace to liquid customer margin trades, etc.)

Bittrex currently has a hard time managing the information of users, anyone who does not perform KYC or provides enough information, they have enough reasons to lock your account.

I think this is the rule of the game at Bittrex and you should follow it. The fastest way to handle this is to DM directly to Bittrex supporters on Telegram so they can assist you as quickly as possible.
https://t.me/BittrexGlobalEnglish

This is the telegram link that leads to their official group, and wishes you will be able to reopen your account soon.

I can’t speak for the OP as he’s a new account & I don’t know if he’s done anything shady which forced them to block his accounts. I am very surprised that they acted like this towards you buwaytress, a trustworthy account here. Did they give you a reason?

There are many tickets that come in, maybe need to be patient. I am also Bittrex user there now all right. Finally, I have to renew my ID using a passport because my country for account verification is a passport. Previously there was no problem using ID, but after a few months my account couldn't make transactions. I contacted support for about 1-3 days and got a reply. I have to renew my identity.

Verified member (highest level possible) at Poloniex and Bittrex from 2017, but that didn't stop either from at times blocking my account and/or just delisting wallets without notifying me.

Just because they haven't done anything to you doesn't mean they won't down the line.

They're both great services and pretty much reliable (I still use Bittrex occassionally) but the moment you're done with them, best keep your Bitcoin on your own wallets. Just not worth the risk leaving it to chance.

Did you make a mistake that got your account blocked?
Of course this must have a reason, it is impossible for BITREX to immediately lock someone's account for no apparent reason.
since 2018 I have been a member there for a long time and have never experienced this. and keep it safe under control.