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Statement on disabled accounts

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Ryan
Today at 14:28
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We would like to address recent reports regarding Bittrex account suspensions.

We occasionally conduct compliance reviews and are working vigilantly to protect our service and our users from harm. As part of a compliance review, we have temporarily suspended certain accounts pending the completion of the review. The total number of suspended, closed, or banned accounts is very limited: less than 0.1% of the total accounts on Bittrex.  More than 99.9% of Bittrex accounts are unaffected.

Any reports that Bittrex miscalculated or misapplied its exchange fees, that there is a security problem with the exchange, that Bittrex lost any coins stored on users’ behalf, or that Bittrex is banning people trying to access Slack to discuss the status of their accounts are incorrect.  We are committed to making Bittrex a strong, safe, and compliant exchange where people can securely participate in the digital currency economy.  We ask for patience from our highly valued customers.  As for us, we plan to “keep calm, and carry on.”


https://support.bittrex.com/hc/en-us/articles/115002187632-Statement-on-disabled-accounts

Bittrex really needs to communicate with their customers better.  I was using an unverified account with a withdrawal limit of 1 BTC, and despite being an active user on there for months before the change, I didn't realise that they were going to lower the unverified account limits until when they actually did it.  They should have at least added a banner on their page for unverified accounts to mention the change and send emails out, but unless I missed something, they didn't seem to care enough about their customers.

I don't think that altcoin exchanges have to be completely anonymous and I think that the major ones will ultimately have to comply to government regulations, but the fact that they care so little about their users' privacy that they're willing to make their withdrawal limits negligible and pressure them to give them documents is quite surprising.

For me it's okay since I didn't mind giving documents and their withdrawals have always been timely and smooth, but they need to communicate with their users and get their act together.

The cryptocurrency market has become so big that there is no way major exchanges can operate without complying to regulations.

It's a shame they didn't give out proper warnings about the changes though.

Bittrex has been doing a good job previously by putting up notices early. But the way Bittrex handle this is disappointing. Hopefully this is the only time and Bittrex will improve in the future.

The step that they have taken may look rigid while getting everything done all of a sudden, but it was needed to be done to protect misuse of their exchange and/or any money-laundering activities that might have been getting done under the absence of radar. I think they should have given their customers a warning over this, but whatever they did can't be judged because the KYC policy's been there since 2015 and they gave enough time to their users to manage all their economic affairs and get some time to get their KYC done.

Good job. It was needed. I think Bittrex take the right decision. And it will help to protect Bittrex form spam and other damming issues. I support their actions.

I have launched a telegram group. I want all those whose account has been disabled to join to this group. and if we needed to file a lawsuit against them we can do it collectively for better results.
everybody is welcome
here is group:
https://t.me/joinchat/BjmOlA2Ir-_l5XhBATHoTg