Bitcoin Forum

Hi I am trading on the Cryptsy Trading Platform and sold recently +-350000 Ripples which gave me +- 13 Bitcoins. All in a sudden Cryptsy is withholding funds and is not paying out anymore. After asking what the reasons are for not paying anymore they wrote: "Due to not having 2FA enabled, more information is required before we can process your withdrawal".
Than they asked me for the security question which I also answered. I am still waiting for some reaction.
Is this normal with Cryptsy ?
Has anyone had similar problems like this with Cryptsy before?
Thanks for the reply

i'm trying it right now with a small amount(about 1k ripple, waiting for the deposit), but i think in your case the amount is bigger and they require more info

It looks like a hacking prevention measure, you see a lot of people bitching around because their accounts got hacked and they didn't even had 2FA on, good to see Cryptsy is being proactive trying to secure users' funds.

If cryptsy withholding my funds without reason than this is the same like hacking

It's just their action to prevent hacking since you didn't enable 2FA
I'm sure you'll get your bitcoin soon, but sometimes their response is very slow

Seems I am not the only one

Ignacio Lopez
said 31 minutes ago

Yeah, it seems like they block our founds for no good reason...


I'm triying to withdraw my USDs without sucess... almost 5 days now.

I've had hassle with Cryptsy withdrawals before so I understand how frustrating it can be but in this case I think they are just being precautious due to you not having 2FA enabled (2FA is a no brainer, not really sure why you aren't using it). Also if your account there is new, deposits and withdrawals take longer as a security measure. Keep pestering support, I'm sure they'll get back to you soon.

Seems to me this is their trick, if one wants to withdraw large ammounts they ask you for your security question if you dont remember this one they take your cash.

well mine, went through at the end, but i enabled 2fa, so it must be an addition to the security system

or because your amount is above a certain limit, there is no other explanation really...

I don't have problem trading with other alts. Maybe Ripples is now on their radar. I don't trade any Ripples recently.

It is also so easy to enable 2FA..... If you were Cryptsy, you might also be wondering why people trade a good amount of Ripples without 2FA.

If Cryptsy want people to enable 2FA than they should make it compulsory right from the beginning and not if you make a transaction which they dont like. It is plain mopping nothing else. This was the last time I used Cryptsy.

If you don't 'remember' maybe the account is not yours...

If Cryptsy want people to enable 2FA than they should make it compulsory right from the beginning and not if you make a transaction which they dont like. It is plain mopping nothing else. This was the last time I used Cryptsy.

What exactly qualifies as a 'transaction which they don't like'? They are an exchange, they like all transactions, that's how they make money...

I am having my own problems with cryptsy that I am still trying to resolve.  After the forum was hacked, my cryptsy account was hacked (using the same login credentials, I know, I know, don't need a lecture). But the withdrawal was not processed by cryptsy yet by the time I got on in the morning.  I quickly contacted support and changed my password. Soon after, my account was "Locked".  I have sent in multiple support tickets that keep going unanswered and I have no idea how to get my money back since they won't reply to me.

most likely they are requiring 2FA because you are trying to withdraw such a large amount, and since the transaction wont be reversible, they just want to make sure the funds are going to the right person.

Dude there must be something wrong with your account I always get responce on tickets within 4hrs or so.. and they always solve things for me fast

This is surprising that a company would hold your funds for so long.  In my opinion it is totally unacceptable for them to do this.  I would send a mail and call by phone at least once a day until this is resolved.  13 btc is not chump change and I would be pretty upset if it got frozen for no good reason.  Thanks for posting this on the forums, I now know to avoid them in the future.

Maybe they do not have enough liquid bitcoins or you dumping to much rubbish coins, if one dumps rubbish coins on a trading platform the owner of the platform is sitting with that rubbish. I am sure the owner of crypsy prefers to have Bitcoin and not Copperlark in his portfolio.

I faced this problem, decided to support this issue in one day.

I agree to this that whatever are the requirements of using their services they should inform about it at the time of the registration and not after a user has deposited the funds in to their site, I think it's bad practices.

My advice to you is since your bitcoins are stuck on their site, you have to do whatever they ask you to do, so just suck it up and play along, provide anything they want and get your coins out asap, that should be your number 1 concern. After that you can find another service which is much more transparent from the beginning and doesn't hold user's funds for no reason.

Seems all the funds are out of Crytsy now, the trick is not to withdraw BTC rather exchange them into an other currency like Doge and than take them out.

I think that trick is long gone too. I've got some withdrawals on those altcoins but they need validation too.
Some people told me you can ask for the chat for help.

Does this work? or will you be banned with your account too?

A lot of people have been making complains about Cryptsy. It appears that you are not the only one with the same problem. Let's hope they can return the funds to their customers and don't go GOX.

I hope they help you and me with our problems.

The withdrawal issue is taking too long. I got some btc I need urgently. If someone has a tip to proceed this waiting time, please share it.

I had to verify my personal information with Cryptsy to withdraw some bitcoin. They have two tier system now.

There are no safe coins now I think. Most of the coins with volume  have been overused, which makes it too hard to withdraw your
bitcoins to a good amount out of there. If anyone have tips here, please share them.

Did any of you knucklefucks check the date of the first post here after Mr. whateverhisnameis necrobumped it?

Is there still problem with the withdraw of the bitcoin from Cryptsy? Or all the bitcoins have been taken out of the exchange?

I think both, actually...  there is a problem and all the bitcoins have been taken out...

Hmm, could be but don't count it. I am sure their hot wallets/ cold wallets are being monitored.
When they move such a huge amount of coins somebody would have noticed it. Remember how big cryptsy was...