Bitcoin Forum

Hi,

Does anyone trade on BTCC and make CNY withdrawal request in the past couple of days? My account is being held for investigation after making CNY withdraw couple days ago (about 25K USD).

Anybody knows about their liquidity? I am getting worried.

Thanks

too many chinese people were waiting to this timing to dump their bitcoins

btcchina is in a crisis now, since the prices rise too fast and the the rate of increase too high

$25k is quite a large amount of money. It might be normal to be checked  there.

Did you have problem withdrawing $25k before?

The coin dump has nothing to do with the liquid problem. The price is rising, meaning more people are spending fiat. So there should be plenty of fiat available.

I supose that they need to verify large amounts. Could be that they need to send to government documents for large withdraws. Ask their custumer suport about your problem.

This worries me a lot. This reminds me of the early problems that Mtgox had before the crash. I hope the BTCC team is competent enough to do their accounting for their transactions, even it is slow.

Are you in China? Most countries have rules that get more harsh the more you are trying to move. If you are in the U.S. then anything over $10k is going to require paperwork and time.

BTCC is not having liquidity issues. Rather, we have seen a net increase in customer funds on our platform over the past few weeks, for both fiat and bitcoin.

We take our customers’ concerns seriously, so please allow me this opportunity to directly address them.

BTCC usually processes all fiat withdrawals within 24 hours. On Saturday, October 31, however, some customers experienced up to 36-hour delays in receiving funds after submitting a fiat withdrawal request. There were delays because a third party that we use to process fiat withdrawals was experiencing technical issues in submitting payments to customers’ banks. The technical issues have been resolved, and most fiat withdrawals are now being processed within 7 to 8 hours. We aim to process all fiat withdrawal requests within 24 hours.

On the bitcoin side, we aim to process bitcoin withdrawals within 30 minutes. Over a few days in October, however, some customers were experiencing delays of up to 8 hours in having their bitcoin withdrawal requests processed; in one extreme case, a customer had to wait 20 hours before their withdrawal request was processed.

We were experiencing delays because we started receiving an unusually high number of bitcoin withdrawal requests after the current bitcoin price rally began; we were unable to process the requests in time because we have strict controls in place to protect customers’ funds. We have increased our manpower and our average bitcoin withdrawal processing time is currently one to two hours, with all requests being processed within four hours. We apologize for the delay and are working hard to return our bitcoin withdrawal processing times to the usual 30 minutes.

Please email us at support@btcc.com with the subject “BitcoinTalk” if you are experiencing any issues. Please also feel free to PM me directly if you have any further questions.

-Bobby Lee
CEO, BTCC

In Europe it is even worse, one has to do paperwork and stuff sometimes for less than 3000€.

I saw that on BTCC website, it is announced that BTCC can deal with banks directly, not through third party agent. Is that true?

I do not see it reported in major media, even though it is breaking news.

Take easy...

BTCC has mining pool, it is unlikely to fail under this bitcoin price

Oh Bobby Lee, you know you mess with our withdrawals all the time. Here I am waiting 3 hours for a withdrawal, AGAIN. I have waited up to 20 hours several times. It seems you always process them AFTER the price of bitcoin falls to the floor.

Put a cancel button next to the withdrawal. Once we make the withdrawal our coins are held HOSTAGE.

Hire some people so you can process withdrawals within 30 minutes like EVERY other exchange.

Tired of the same old excuse. There are so many withdrawals it is being delayed, blah blah blah. I call BULLSHIT.

Here is an actual message from your support:

BTCC Support (BTCC客服) <support@btcc.com>
 |
To:
Brian xxxxx;  ...  Sun 10/18/2015 1:23 PM
Hi Brian xxxxx,

Thank you for your understanding.

We will take our time to solve the problem.

Thank you and have a nice day!
 

感谢您! | Thank you, Michelle                          
BTCC
企业QQ: 4006643033 | Company QQ：4006643033


You would be an awesome exchange if it wasn't for this one problem.