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Author Topic: Be careful with Tether! Missing funds.  (Read 1258 times)
RoyBacon
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February 12, 2017, 05:23:46 PM
 #1

Usually a deposit from Bitfinex to Tether can take anywhere from 2 minutes to a half of a day. Generally it's about two hours.

I have been waiting nearly a week for them to credit $113,500. In that time I have only received a single email saying we are looking into it. That was on day 2. Not a word since. Never had a problem with them until now. Bitfinex says basically it's not their problem.

When I signed up at Bitfinex I was not aware I had to use Tether because Bitfinex does not send wires to my region. Hopefully all will work out but I post this fwiw. 

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b80afc221fa59c764581427e08c4d6766xxx309a3d48a2cc...   2/7/2017 10:41:11 PM

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TetherUS (#31)
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U2
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February 12, 2017, 05:30:33 PM
 #2

Tether as in the altcoin Tether? Sorry about your issues with the payment but what exactly does this have to do with bitcoins? You'd have better insight on the altcoin subforum.
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February 12, 2017, 07:34:52 PM
 #3

It relates to bitcoin in that its the only method of withdraw for Bitfinex in many regions. They might be partners in some way.

If you trade btc through Bitfinex I would suggest not using Tether.to. If you have a btc balance at Bitfinex, and tether is your only option for a bank wire, I would suggest sending them to another exchange to sale and withdrawing the proceeds through that exchange.
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February 17, 2017, 05:14:02 PM
 #4

Have Tether given you and update on the status or credit of funds for the USDT you sent to Tether.to?
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February 17, 2017, 05:21:01 PM
 #5

Tether as in the altcoin Tether? Sorry about your issues with the payment but what exactly does this have to do with bitcoins? You'd have better insight on the altcoin subforum.

well, it's a good feedback to bitcoin community. i was about to send some to tether too, i've never used it so i was a little afraid... now i think it's better to wait.

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February 17, 2017, 05:26:40 PM
 #6

'Tether is incorporated in Hong Kong
with US offices in Santa Monica, CA
and on the East Coast.'

that's fullest extent of the details they're willing to give about themselves on their website. contact details are a web form and nothing else. they also haven't updated any social media since 2015. that wouldn't quite be enough for me to entrust thousands of dollars to them.

you'll probably be fine in the end but it never ceases to amaze me where and what people are willing to trust in this space.

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February 17, 2017, 05:46:42 PM
 #7

'Tether is incorporated in Hong Kong
with US offices in Santa Monica, CA
and on the East Coast.'

that's fullest extent of the details they're willing to give about themselves on their website. contact details are a web form and nothing else. they also haven't updated any social media since 2015. that wouldn't quite be enough for me to entrust thousands of dollars to them.

you'll probably be fine in the end but it never ceases to amaze me where and what people are willing to trust in this space.

Agreed... Now I am not saying they took his money, but it is a fair bit of money. Some services process smaller amounts without trouble, and

they create a false sense of security with users... when a big amount is deposited, they grab that and they disappear. They have been around

for a while now, so this is not the typical long con. Just take this to social media to get their attention.  Angry ... Tether is pegged to the $US..right?

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Wexfgy12
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March 02, 2017, 08:54:34 AM
 #8

Was this resolved?
danherbias07
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March 02, 2017, 08:59:01 AM
 #9

A hundred thousand dollars just like that? And you dont even seem mad.  Grin
You might want to look for their customer service or go all the way to their offices as mentioned above by ECB.
That is a lot of money to be lost. It is madness and you should sue the people behind it.

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March 02, 2017, 09:27:19 AM
 #10

Was this resolved?

Don't hold your breath for the follow-up from OP. He created an account just to start this topic and was active for only one day. But, since he went silent, I reckon the issue must have been resolved by now.

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March 02, 2017, 09:39:19 AM
 #11

Wow this is really worrying. thanks fot the heads up with this I was going to use it later today. Is there any credibility in the OP post?

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March 02, 2017, 10:21:03 AM
 #12

Wow this is really worrying. thanks fot the heads up with this I was going to use it later today. Is there any credibility in the OP post?

Of course he gave some details, read the latter parts of his post. I'm worried though about the rate at which certain companies will do anything in the name of Bitcoin to defraud others. Anyway hope it was resolved.



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Rainbot
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May 05, 2017, 12:30:19 PM
 #13

Usually a deposit from Bitfinex to Tether can take anywhere from 2 minutes to a half of a day. Generally it's about two hours.

I have been waiting nearly a week for them to credit $113,500. In that time I have only received a single email saying we are looking into it. That was on day 2. Not a word since. Never had a problem with them until now. Bitfinex says basically it's not their problem.

When I signed up at Bitfinex I was not aware I had to use Tether because Bitfinex does not send wires to my region. Hopefully all will work out but I post this fwiw. 

Simple Send

b80afc221fa59c764581427e08c4d6766xxx309a3d48a2cc...   2/7/2017 10:41:11 PM

113500
TetherUS (#31)


Hi ,

I am plannig to transfer some bTC from teather,,  were your problem resolved ? would you recommend USDT.?
 
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May 05, 2017, 02:17:18 PM
 #14


Hi ,

I am plannig to transfer some bTC from teather,,  were your problem resolved ? would you recommend USDT.?
 

Tether (USDT) is a cryptocurrency redeemable for USD at 1:1 rate (+fees). You don't transfer bitcoins to/from tether, you can only exchange btc for tether.

Apparently there are still some issues with it, as the exchange rate is still below $1 (currently $0.95 as per coinmarketcap.com), that's quite a good indicator of something being wrong (they have some problems with banks blocking their transfers afaik)

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May 05, 2017, 02:24:23 PM
 #15

Usually a deposit from Bitfinex to Tether can take anywhere from 2 minutes to a half of a day. Generally it's about two hours.

I have been waiting nearly a week for them to credit $113,500. In that time I have only received a single email saying we are looking into it. That was on day 2. Not a word since. Never had a problem with them until now. Bitfinex says basically it's not their problem.

When I signed up at Bitfinex I was not aware I had to use Tether because Bitfinex does not send wires to my region. Hopefully all will work out but I post this fwiw. 

Simple Send

b80afc221fa59c764581427e08c4d6766xxx309a3d48a2cc...   2/7/2017 10:41:11 PM

113500
TetherUS (#31)

Instead of sending a ticket or sending message to the support team of bitfinex why not try to send an email to tether. I made this statement since you have not mentioned that you have send a message to tether. Possibly if you do this some action will take place. But before doing so you must check the address and the bank account number and all the transactions if what you made was exact or you made some errors that has led to the delay of your withdrawal.

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