Beware of Bittrex blocking withdrawals for "security" reasons

[gidaahmad]

I use Bittrex and I am safe from the news. Indeed there are many accounts disabled because they have not verified the data themselves and do not use their account (passive account).

[Oluwatobiloba]

This is what comes out of government involvement

[Spoetnik]

I logged in there yesterday to see how things were going..
I was right away confronted with some verification crap.. not happening.
I did not join and support crypto to fork over my picture ID to AML/KYC govt complaint exchange businesses.
If you all value crypto you will reject this bullshit NOW.

Oh and recap time..
Cryptsy told me they lied to users and froze their accounts when a govt related request was made.
Get it ?

[Agozyen]

Decentralized exchanges are coming.  Komodo Platform's BarterDEX is in the works.  I opened a Bittrex account recently and went through all that hassle.  I think they did this to conform to KYC.  Bittrex is based in the US and if they don't collect basic information they would face serious legal consequences.  I lost a lot when Cryptsy folded so I don't keep anything in an exchange that I can't afford to lose.  This collections of data will only get worse until more decentralized exchanges pop up.

[arielbit]

they should have informed me about the change. now i have an account with coins and can't withdraw anything.

Unverified accounts cannot withdraw from Bittrex. Please see this link for more information.

thats what they tell me after the login. but after i followed the link they write:

Unverified Accounts created before 08/01/17: 0.025 BTC (or equivalent) per day

mhh, what now.

and what about this:

my bittrex account is legacy too i withdraw BTC today, more than 3 BTC..it went out.

[secousa]

they should have informed me about the change. now i have an account with coins and can't withdraw anything.

Unverified accounts cannot withdraw from Bittrex. Please see this link for more information.

thats what they tell me after the login. but after i followed the link they write:

Unverified Accounts created before 08/01/17: 0.025 BTC (or equivalent) per day

mhh, what now.

and what about this:

my bittrex account is legacy too i withdraw BTC today, more than 3 BTC..it went out.

its only a matter of time before you're greeted with a "new" account. I had a legacy account which recently converted to "new" and had to go through the doc process. not fun.

[torrantz]

Decentralized exchanges are coming.  Komodo Platform's BarterDEX is in the works.  I opened a Bittrex account recently and went through all that hassle.  I think they did this to conform to KYC.  Bittrex is based in the US and if they don't collect basic information they would face serious legal consequences.  I lost a lot when Cryptsy folded so I don't keep anything in an exchange that I can't afford to lose.  This collections of data will only get worse until more decentralized exchanges pop up.

This why the bitfinex exchange site already taken the decision to  move into the hongkong, I think that has a relation with the regulation. Bittrex team already stated that the team already banned 0.1% form the total accounts due to the security reason.

[arielbit]

they should have informed me about the change. now i have an account with coins and can't withdraw anything.

Unverified accounts cannot withdraw from Bittrex. Please see this link for more information.

thats what they tell me after the login. but after i followed the link they write:

Unverified Accounts created before 08/01/17: 0.025 BTC (or equivalent) per day

mhh, what now.

and what about this:

my bittrex account is legacy too i withdraw BTC today, more than 3 BTC..it went out.

its only a matter of time before you're greeted with a "new" account. I had a legacy account which recently converted to "new" and had to go through the doc process. not fun.

hmmm...thanks for the heads up.

[h311m4n]

Sounds like most of you fuckers are really shady.  Whats the big deal in verification?  Why not provide them your address and name?  You and they are dealing with MONEY which is really sensitive stuff.

It takes less than an hour to verify.  I have no fucking sympathy for you people who insist on being anonymous for trading money for fucks sake like your some kind of druglord somewhere.

You're missing the point. What if it were your bank that suddenly said "Well guys, if you want to withdraw from an ATM from now on, you will have to confirm that you fundamentally exist by sending over all your personal information. Until then, you'll be limited to 10$ a day". All this off course with no prior notice.

I'm no drug dealer, I don't do any illegal shit with my cryptos. I just feel like I have to stand against being held hostage for bullshit reasons. And also, I don't want a company, that has no legal backing btw, to force me to give them personal information about myself. They are not a bank nor a government institution. They are just an exchange, nothing else, and unless I decide to get verified and consciously give them my personal information, they can go fuck themselves.

[...]

First, I am quoting your post as proof and to put a timestamp on it.

Second, I would like to know why there is a repeating pattern in all or most of the recent complaints on Bittex. I have noticed that the problem is always with the poster and his friend, or with just his friend. It would help if you tell us what country you are from, when you and your friends made your accounts and what coins are used in the exchange.

I speculate that there is a money laundering ring that has started using Bittrex.

We're in Switzerland. I created my account some time this summer on Bittrex and my friend a while before I did, I was more of a polo user. We're not money laundring, but you'll have to take my word for it  . I'm not sure what coins my friend has on there, I think it's mostly BTC. I have bit of music, zen, exp etc. Nothing much, as I said, I got like 0.07BTC on there, hardly a sum no launder...lol

Nobody could expect this move from Bittrex without any warning! That is why we should use different exchanges and assets to diversify our risks.

P.S.
I hate Polo 

Agree, but one question is interesting. What is the dislike for poloniex? Because I personally never had problems with her

Mostly because their support is inexistant. I still have a ticket that has been open for 4 months. A lot of people tried to withdraw Sia coins at some point and their coins just got lost and Polo was incapable of fixing the issue in a quick manner. That's just one thing, there are probably others.

[Jovovich]

Then we have to get real about it. In some ways having those verification is for our protection. Even if you say you are not a bad guy, their are still people who would want to take advantage of how good you are. They don't ask personal info to scam it against you. Because this is the most issue why governments dont really want to regulate bitcoin. It is virtual and not all want to use if for good reason. They ask personal info to just know who is getting how much. Because unverified are taking the site for granted trying to be smart to scatter their money to avoid putting all money in one account.

[Sungoku]

Sounds like most of you fuckers are really shady.  Whats the big deal in verification?  Why not provide them your address and name?  You and they are dealing with MONEY which is really sensitive stuff.

It takes less than an hour to verify.  I have no fucking sympathy for you people who insist on being anonymous for trading money for fucks sake like your some kind of druglord somewhere.

You're missing the point. What if it were your bank that suddenly said "Well guys, if you want to withdraw from an ATM from now on, you will have to confirm that you fundamentally exist by sending over all your personal information. Until then, you'll be limited to 10$ a day". All this off course with no prior notice.

I'm no drug dealer, I don't do any illegal shit with my cryptos. I just feel like I have to stand against being held hostage for bullshit reasons. And also, I don't want a company, that has no legal backing btw, to force me to give them personal information about myself. They are not a bank nor a government institution. They are just an exchange, nothing else, and unless I decide to get verified and consciously give them my personal information, they can go fuck themselves.

[...]

First, I am quoting your post as proof and to put a timestamp on it.

Second, I would like to know why there is a repeating pattern in all or most of the recent complaints on Bittex. I have noticed that the problem is always with the poster and his friend, or with just his friend. It would help if you tell us what country you are from, when you and your friends made your accounts and what coins are used in the exchange.

I speculate that there is a money laundering ring that has started using Bittrex.

We're in Switzerland. I created my account some time this summer on Bittrex and my friend a while before I did, I was more of a polo user. We're not money laundring, but you'll have to take my word for it  . I'm not sure what coins my friend has on there, I think it's mostly BTC. I have bit of music, zen, exp etc. Nothing much, as I said, I got like 0.07BTC on there, hardly a sum no launder...lol

Nobody could expect this move from Bittrex without any warning! That is why we should use different exchanges and assets to diversify our risks.

P.S.
I hate Polo 

Agree, but one question is interesting. What is the dislike for poloniex? Because I personally never had problems with her

Mostly because their support is inexistant. I still have a ticket that has been open for 4 months. A lot of people tried to withdraw Sia coins at some point and their coins just got lost and Polo was incapable of fixing the issue in a quick manner. That's just one thing, there are probably others.

i also use bitrex and i still good alright,
it does have i can draw fund cuman 1-2 btc per day

[Catmony]

is there any  decentralized BTC exchange?

Yes there are few and bitsquare is one of them but they are still in premitive stage and there is not much sell/buy offers to make trades in large volumes.

Etherdelta is not decentralized but atleast you will have max control over your tokens and ETH there.

[HasHe]

Bittrex has already blocked thousands of accounts especially of those belonging to syria,iran,india,russia,pakistan.Its unusual for a big exchange to suddenly block withdrawals.

Bittrex is even banning its users from using support tickets.Already,bitcoin holders were aware of Mt.Gox crash.Now,there is no clear response from bittrex side.

Already,many have left poloniex due to slow response in solving issues to bittrex and now here too,they are facing issues.

Bittrex had recently attracted new bitcoin investors by announcing that it would support bitcoin cash due to which it got huge support and now,this move would definitely spoil its reputation.

[illyiller]

I logged in there yesterday to see how things were going..
I was right away confronted with some verification crap.. not happening.
I did not join and support crypto to fork over my picture ID to AML/KYC govt complaint exchange businesses.
If you all value crypto you will reject this bullshit NOW.

I'm not surprised given the traction that cryptocurrencies have gained. My biggest issue with this is that no prior notification was made. Bitstamp forced all users to verify (or leave the exchange) a few years ago, but they gave us 1-2 months notice. We had ample time to get our coins off the exchange if we weren't interested in forking over documents.

It's not clear whether they are being pushed by regulators to institute stiffer KYC policies in general, or if there is something more political in nature, given that the account disablements seem to be more common in non-US/non-European countries. But it definitely feels like some kind of state/federal agency is leaning on them right now. In that situation, I don't want my funds on the exchange.

[RoommateAgreement]

another good exchange turned bad. it is sad but they are not added to list of shitty exchanges like poloniex that we should stay away from. in the cryptocurrency market there really shouldn't be stuff like this, asking for verification, closing accounts and lack of transparency like this. it kills the market fast.

i hope something good comes out of this though. with bittrex being one of the bigger exchanges and losing customer i hope decentralized exchanges become more popular and we see people use them instead. and that is the good that can come out of it. so we can finally give up shitty exchanges like these. who close down your accounts and run away so easily.

[Minor Miner]

What is the problem to verify your account? Is there everybody has shady deals and you afraid to get them out? I don't think Bittrex will be share your data with somebody.

[metropolia]

this is bullshit. they just disabled all accounts without verifications to force you to submit your documents with them. and the bullshit part is that they never gave any prior warning about this.

when you change the rules of your business you should warn people who have been using your service prior to the chance so they can stop using your service if they don't like the change not push it down their throat!

i currently have about 3BTC stuck there and i had a legacy account (with 2000BTC daily limit which was reduced to ~1250BTC daily limit after price rise) and they changed my account to "basic" from legacy out of nowhere and without warning!

I agree with your view, Bittrex should give notice to existing accounts to withdraw funds before the new rules start. With such incident happening, I wonder whether other exchanges will follow.

Maybe they have face some legal issues, I hope bittrex will deal the issues more public, some accounts from Middle Eastern countries may be blocked because of terrorism?

BTW, my limit is 100 btc now, it was 1337 btc.   

[BTCLovingDude]

What is the problem to verify your account? Is there everybody has shady deals and you afraid to get them out? I don't think Bittrex will be share your data with somebody.

how do you know they are not going to share it? anyways it is not about them sharing it. they can simply get hacked and their database leaked. it certainly wouldn't be the first exchange to get hacked! they can even sell it themselves and say they were hacked.

and it is not about doing anything shady, it is about them not having any reason to ask for it all of a sudden. and there is no need for it. we are not deposit/withdrawing fiat there.

[BlackPanda]

What is the problem to verify your account? Is there everybody has shady deals and you afraid to get them out? I don't think Bittrex will be share your data with somebody.

I also think that way. when we verify the data belongs to us then we will feel more secure if there is something about our account, such as hacking done by people who are not responsible. all the data we have can also make bittrex an exchange that has a good reputation level in terms of positive bitcoin usage. maybe you all have heard about using bitcoin for crime, this could be one of the main reasons. with accurate data then it could be bitcoin will be more trusted and get a favorable regulation. security of data and personal information we have also I think will be very safe awake and bittrex will not do bad actions. so there is nothing wrong to verify, because verification is a form of a legal compliance regarding the real information. oh yes this is also one of the actions to avoid from misuse of account like multiple account.

[haroldtee]

interesting.
thanks for the information.
i'm not that happy that they did this!
what about just withdrawing $150 usd per day. annoying yes but at least you get something out.
also what about doing the basic verification?
use something like hushed on your phone.
that would help a bit.

Yes a basic verification would be enough as it raises your limit to 3 BTC a day provided you have 2FA enabled.

The problem is that their basic verification requires information like name, address etc. and they then check "public records" in an automated process.

As I said, I put in bogus info in the form as nothing stated it needed to be correct and your password number is optional. The problem is, if that check fails, you can't reapply for a basic account. The only option you're left with is getting and enhanced account where you need to provide a selfie and other official documents.

The whole thing is completely ridiculous. Even if I put in my true name and address, I have no idea if they would find me in their "public records".

you could of course just withdraw the 0.025BTC limit every day but this is far from ideal for those who have large amounts on there.

I really feel you bruv! But as it is, the best is just to make sure the information for the basic verification is correct. They could have some reasons why they do not allow re-editing of that information, maybe in case accounts get hacked or something. I honestly questioned the authenticity of the public record they make use of when I did mine and it went seamlessly without issues, but from what you have said, after entering just any record and it bounced, my question of the authenticity got answered. Still baffled though how they make that to work. I had to just do the enhanced verification too anyway... as long as I can withdraw more than enough.

However, it is just funny that most of these exchanges are beginning to act more like banks and it is getting pissing, but do we really have a choice now than to stick with what we have until probably we get to see a decentralized exchange that can make trading cryptos easy as sites like bittrex, most especially for regular traders?