OKCoin wont release my funds!

[bithopper]

I traded 2 btc on the quarterly contract (expires in about 70 days) at 20x. Closed the position with 0.03 btc profit, but now Okcoin is holding 0.97 btc in my futures account, which cannot be transfered to my spot account or even traded with. It is simply locked and not usable for the next 70 days until the contract expires. I contacted them multiple times regarding this, but they say that its 'regulations'.

Why would anyone in their right mind trade with okcoin if they routinely freeze your funds until the contract expires? Is this normal for okcoin or am I being scammed?

[Hazir]

I hadn't any previous experiences linked with with OkCoin exchange but it seems they are the biggest exchange bitcoin market currently operating. It is unlikely that they are trying to scam you. But again MtGox was the biggest as well. And  I checked theirs site and I personally wouldn't trust a company which couldn't even code their own FAQ (in english) page: https://www.okcoin.com/t-13.html

EDIT: to p2pbucks post below: What a great system they have then...

[p2pbucks]

okcoin future system executed a wrong delivery price （ 276 usd） , so they rollback all the data

[billotronic]

well fuck a doodle do

[Kaneki]

sign will be scammed 

[nextblast]

There are some rumors saying okcoin site got some problem yesterday. They'll probably fix it and I think your investments are safe there.

[Chef Ramsay]

Yeah, I presume OK is just dealing with some unfounded problems but will be handling business just fine by tomorrow. Just hang in there and then you'll get your funds.