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Author Topic: Bitfinex make me LIQUIDATION on my account  (Read 897 times)
terrenceng (OP)
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May 01, 2017, 01:24:16 AM
Last edit: May 01, 2017, 10:34:33 AM by terrenceng
 #1

I would like share to you about my story on Bitfinex trading. How I loss my money on Bitfinex just because their technical issue, which caused my LIQUIDATION
- From Mar 2017, I trade Dash with short position and realize about Bitfinex Summary table calculation where total Gross, total positions, total Orders were calculated. These number is totally wrong with my current position. This issue come to very critical with me, because I can not place any Margin Buy/Sell order to close my position and end my loss. I raised this issue as a helpdesk ticket on 31 Mar 2017. Below is my message to bitfinex
https://drive.google.com/open?id=0B55FfAMp1BXdY2hwbk9jV21nOGM
- On 01 Apr 2017, I got their reply to request screen shoot for Bitfinex helpdesk confirmation
https://drive.google.com/open?id=0B55FfAMp1BXdeHhFZHEwbGZFX1k
- Immediately, I replied Bitfinex with my screenshoot to hope this technical issue will be helped. But from that moment, there are no more reply on my mail thread. Below is my screenshoot.
https://drive.google.com/open?id=0B55FfAMp1BXddmNYbUMzYTh2a0k
- On 03-Apr-2017, I lost almost my money with a LIQUIDATION on DASH position. And still now I have no any reply from Bitfinex
Any body have same experiences with this issue?
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May 01, 2017, 06:50:27 PM
 #2

Bitfinex are clearly not solvent right now.  They haven't been processing fiat deposits or withdrawals for a while and frankly with the crazy premium on the Bitcoin price and everything you'd be very lucky if they keep up those for long.

I don't see it as likely that they'll respond.  Their support must be dying of exhaustion right now.

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May 01, 2017, 08:31:24 PM
 #3

With them having issues with the banks they are using and with customers not receiving their deposits
It just looks like a complete mess for them right now.
And with news of them forcing their customers to liquidate their accounts this is the last straw that could break the camels back.

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May 01, 2017, 10:28:47 PM
 #4

if youre account liqudation
because you use margin trading, and youre balance is under value floating so youre account liquidation
after deposit and withdraw use USD can't transfer wire, i think bitfinex is not recomended
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May 01, 2017, 10:36:09 PM
 #5

If this is happening to you now i think it is because of their big issue but if they solve the wire transaction issue maybe they can call you back or reply if they are not too busy about their issue..
Hoping that it will not be the same as mt.gox or other exchange site every year are gone and down.
For now the best we can do now is praying and hoping that they fix all the issue about their banks.

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May 02, 2017, 12:33:39 AM
 #6

Thats why I left Forex because margin trading is so risky. I found out Crypto currency trading using margin trading is much more risky. So What I am doing now is the normal exchange trading. Just buy low and sell high.

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May 02, 2017, 01:25:37 AM
 #7

How was your net position wrong? This is something basic which every exchange has to get right.
If you indeed are able to prove your case, I am sure it will be reversed.
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May 02, 2017, 01:42:47 AM
 #8

I would like share to you about my story on Bitfinex trading. How I loss my money on Bitfinex just because their technical issue, which caused my LIQUIDATION
- From Mar 2017, I trade Dash with short position and realize about Bitfinex Summary table calculation where total Gross, total positions, total Orders were calculated. These number is totally wrong with my current position. This issue come to very critical with me, because I can not place any Margin Buy/Sell order to close my position and end my loss. I raised this issue as a helpdesk ticket on 31 Mar 2017. Below is my message to bitfinex

- On 01 Apr 2017, I got their reply to request screen shoot for Bitfinex helpdesk confirmation

- Immediately, I replied Bitfinex with my screenshoot to hope this technical issue will be helped. But from that moment, there are no more reply on my mail thread. Below is my screenshoot.

- On 03-Apr-2017, I lost almost my money with a LIQUIDATION on DASH position. And still now I have no any reply from Bitfinex
Any body have same experiences with this issue?
This may be an isolated case but knowing the state of things in Bitfinex I doubt that, I think this will be the first of a wave of complains about the service and the inevitable bankruptcy of the exchange that will bring as a result a big crash in the price of bitcoin.
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May 03, 2017, 03:18:24 AM
 #9

It's 1 month from the LIQUIDATION date. But still have no reply from them. Actually, It's happened before USD Wire issue. I scared Bitfinex already.
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May 03, 2017, 04:03:51 AM
 #10

Bitfinex is known to have shady activity from long time ago and i can't understand why many still trust them. Talking about your case its been 1 month without any reply fromm them and i don't think they gonna make any reply to you. You can either open scam accusation against them with all the proof you have or just move on to another exchange like poloniex which i am using for margin trading.

 
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May 03, 2017, 10:35:46 AM
 #11

It's 1 month from the LIQUIDATION date. But still have no reply from them. Actually, It's happened before USD Wire issue. I scared Bitfinex already.
You should have scared to use them when they got hacked few months ago. They don't provide enough security to user's fund and i no longer trust them.

 
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May 14, 2017, 11:17:28 AM
 #12

Continue to update about this thread.
Bitfinex said I have to cancel my order before place the sell order (Actually It doesn't make sense at all as normal behavior because my current orders are too small)
https://drive.google.com/open?id=0B55FfAMp1BXdeFJpZ2NkQ3RqNlk
And then, they forced me to click Close position
https://drive.google.com/open?id=0B55FfAMp1BXdUlBwRm5DOEt1UnM
Damn!!!
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May 14, 2017, 11:27:06 AM
 #13

Also, I notified to Bifinex about this discussion. I hope they will reply this thread so that everybody can get update.
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