Hello everyone,
My story is a warning for those who are using Bitstamp as a trading platform.
I've been using my verified Bitstamp account for about 4 or 5 months, everything was going smooth, until about two weeks ago. Suddenly I have discovered that trading is "currently unavailable" for my account as well as any crypto withdrawals. I've opened a support ticket to find out what's going on, no replies, total silence ware for more than 10 days. Submitted requests to withdraw fiat back to my bank account was also canceled.
I was confused, what to do next and suddenly found out after reading posts on Reddit that I am not alone with the similar problem. Bitstamp started terminating accounts of customers since 3 or 4 months ago, randomly picking customers without any explanation at all and without specifying the reason. Almost in all cases, they do the same thing, first, they block all withdrawals and trading, one month after if you are lucky they are sending you account termination notice by email, letting you know that all your cryptos will be sold at the market price and all fiat will be wired to the last bank account you have used either to withdraw or to make deposit, after this your account is blocked, you are losing access to your account. receiving back your fiat takes from 1 day to two months.
Maybe I was lucky, but after submitting my story on Reddit (it really works!), the next day I've received the email from Bitstamp with this termination notice and the day after my money was credited back to my bank account.
I had a really lucky escape! But others ware a lot less...
I strongly suggest to everyone who is using bitstamp to withdraw everything you have there. Don't want to speculate, but I have a feeling they have some financial problems and this might end up pretty bad and pretty soon.
You can follow this link to read my developing story on Reddit as well as stories of many others.
https://www.reddit.com/r/Bitstamp/comments/80nup1/trading_and_withdrawing_problem_no_reaction_to_my/
