Worries / issues about CEX.io

[Zonjinn]

I'm concerned about cex.io

Last week they asked for new ID/card verification and won't let me withdraw GBP. Eventually able to withdraw and receive funds on Monday. This is in spite of having provided all information before and having used same information for several years.

This week provided further ID and tried to withdraw GBP told 'withdrawal exceeds limit'. Told to use bank transfer not card.

Decided this was warning of problems.

Also saw that volume of ETH in last 24 hours was a measly 22 ETH.

I'm now concerned that there are problems behind the scenes.

Have removed all my ETH from cex.io as figured it is safer in my own wallet.

Anyone else seeing issues or is this just a freak occurance?

[OmegaStarScream]

The trading volume is much higher then that If we're speaking about ETH/USD.

But yes, I've seen multiple[1][2][3] scam accusations in the past few weeks/months but they all got sorted out eventually. It also seems like the owner or at least one of the staff member is active in Bitcointalk so If you ever face any issues in the future, maybe you'll get a faster response by posting in their ANN thread[4].

Withdrawing all your funds from the exchange was a good decision though, not because of the exchange problems but simply because you should control your private keys at all time, bigger issues could occur (hacks, inside jobs etc.).

[1] https://bitcointalk.org/index.php?topic=2756135.0
[2] https://bitcointalk.org/index.php?topic=2174542.msg46326816#msg46326816
[3] https://bitcointalk.org/index.php?topic=2690611.0
[4] https://bitcointalk.org/index.php?topic=318010.2940

[harizen]

Last week they asked for new ID/card verification and won't let me withdraw GBP. Eventually able to withdraw and receive funds on Monday. This is in spite of having provided all information before and having used same information for several years.

Do you mean you now have a 2 verifications made at CEX? If does then that's normal on my own view. It also happened to other exchanges. It's like verifying the first one especially if the first verification was happened for quiet some time.

I'm concerned about cex.io

I'm now concerned that there are problems behind the scenes.

There are always a problem. But in my case, I never got a major one. Good thing you able to withdraw your funds so your concern was being managed by CEX.

Have removed all my ETH from cex.io as figured it is safer in my own wallet.

Since we have different experienced in using a certain exchange, it's really a must to withdraw your funds if you think that some unpleasant thing is happening on that exchange. Not an overacting response but we are just talking about safety here.

[CEX]

I'm concerned about cex.io

Last week they asked for new ID/card verification and won't let me withdraw GBP. Eventually able to withdraw and receive funds on Monday. This is in spite of having provided all information before and having used same information for several years.

This week provided further ID and tried to withdraw GBP told 'withdrawal exceeds limit'. Told to use bank transfer not card.

Decided this was warning of problems.

Also saw that volume of ETH in last 24 hours was a measly 22 ETH.

I'm now concerned that there are problems behind the scenes.

Have removed all my ETH from cex.io as figured it is safer in my own wallet.

Anyone else seeing issues or is this just a freak occurance?

Dear Zonjinn,
Thank you for your post.

We are sorry to hear you are worried about our services.

Please let us inform you that identification and verification procedures are a vital part of our platform. They were implemented in accordance with local and international requirements and AML/KYC policies in order to ensure the safe trading environment for our users.

Also, kindly note that CEX.IO reserves the right to request up-to-date documents from the users, even though they have passed identity verification in the past.
More details on it can be found on our web page: https://cex.io/aml-kyc.

Let us emphasize that the exchange rates on our platform depend only on the users themselves. It is created taking into account supply and demand correlation, the volume of the market and Buy/Sell prices set during the trading process.

We would like to mention that the situation with the GBP withdrawal may have appeared in case you have overreached some cards or account limits. Unfortunately, we are not able to tell the exact reason, but we would be glad to check it if you provide us with your user ID or ticket number.

In case you have any other questions or require further assistance, please let us know.

[magneto]

I'm concerned about cex.io

Last week they asked for new ID/card verification and won't let me withdraw GBP. Eventually able to withdraw and receive funds on Monday. This is in spite of having provided all information before and having used same information for several years.

This week provided further ID and tried to withdraw GBP told 'withdrawal exceeds limit'. Told to use bank transfer not card.

Decided this was warning of problems.

Also saw that volume of ETH in last 24 hours was a measly 22 ETH.

I'm now concerned that there are problems behind the scenes.

Have removed all my ETH from cex.io as figured it is safer in my own wallet.

Anyone else seeing issues or is this just a freak occurance?

They have had a host of problems in terms of dealing with fiat withdrawals in the past, so it's not really surprising that this is popping up right now.

I personally would only consider using them as a crypto only exchange as a result of these issues which they suffered with led to pretty much constant withdrawal delays and sometimes also deposit issues. Not sure if they've fixed it all though. I'd only see the waning trading volumes as a sign of people getting out of the exchange due to better alternatives, not them doing anything shady directly to the market.

No idea why you were asked the verification again, you might want to contact their support as they themselves mentioned, but I honestly don't think it's worth it if you're getting your funds out of their site anyways, which is a good idea since you should never be storing funds on an exchange and use them as a wallet. Their customer support is actually decent, but probably totally ruined by the actual service that they provide.