Will Bitfinex lock your account if you trade to many bitcoins?

emelac

full member

Activity: 184

Merit: 100

I found two other cases of an account getting locked, one last November. He got the same message as in the other case, but he said the problem was quickly resolved. However he didn't say how it was resolved or give the reason his account was locked.

https://www.reddit.com/r/bitfinex/comments/3rjhni/your_account_is_currently_on_withdrawal_hold_for/

Quote from: SamCru5953 on August 19, 2015, 01:46:29 PM

I want to withdraw all of my bitcoin. I did a test withdrawal of about 0.3 BTC and it's been pending for over 2 hours now.

"Your account is currently on withdrawal hold. Your withdrawal(s) will be locked in a Pending Approval state until the hold is lifted."

How do I get the hold lifted?

emelac

full member

Activity: 184

Merit: 100

This is the only case I know of where Bitfinex locked an account. I don't know the reason, or if it was because he had been trading in too many coins. There is an option to give them KYC documents when you register so they must do some KYC checks, and that suggests to me they could lock your account whenever they want. That post's from the Bitfinex support thread, and if you skim through the whole thread it could show if others had their accounts locked.

Quote from: CocoBongo on January 20, 2016, 09:12:55 AM

BITFINEX !!!

I have most of my coins there and need to trade right now and I get this stupid message

"Your account is currently on withdrawal hold. Your withdrawal(s) will be locked in a Pending Approval state until the hold is lifted."

I can not move any of my coins IM so furious this site went to crap.

withdraws take over 12 hours to get processed the past times for me.

I did NOT change my password nor changed anything !

edit

Bitfinex's terms of service say it can lock anyone's account if they are accessing Bitfinex through a proxy service or Tor.

https://www.bitfinex.com/pages/tos

Quote

BITFINEX reserves the right to block access for any user accessing the Website via proxy service with intentions to conceal originating identity. This includes access via the Tor anonymity network.

CocoBongo

member

Activity: 94

Merit: 10

if you have a specific volume in your wallet and a specific trade volume only in bitcoins
-no cash withdraws or input

Q:
-could there be a way for them to lock your wallet for whatever reason
-has that ever happened to someone
-would you consider bitfinex safe to store 50% your coins onto for trading

Topic: Will Bitfinex lock your account if you trade to many bitcoins? (Read 640 times)