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Author Topic: Bittrex scams $millions and the community is in denial phase!  (Read 1769 times)
aliashraf
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November 24, 2017, 09:30:55 AM
 #1

Once upon a time, MtGox was a BIG exchange and messed up by doing a small mistake: putting all user deposits in the company's hot wallet which leaked and leaked up to a bankruptcy point ....

As a consequence by revealing the fact that bitcoin is vulnerable in its borders(exchanges), its price fallen down to the earth from the sky and remained  there for almost 2 years! Japanese authorities came to the scene and did their job as expected ...

it was an earthquake, initiated by a mistake not even an intentional fraud plot and yet ...

Now we have Bittrex, currently, one of the largest exchanges in the world and it is not about a technical mistake but a deliberate, sophisticated series of fraud and scamming people by the site owner(s),  thousands of users have been affected and millions of dollars have been gone into the packets of the thieves who are not responsive at all and has sufficed to make a very short misleading statement of no help, saying :"it is about 0.1% of the users" and doesn't say anything rational about why and how they have blocked users access to their funds.

Meanwhile their agents informally make false claims about a mysterious pressure by unknown authorities from unknown countries which is threatening the whole firm and its users and they have sacrificed those 0.1% to make their majesty happy and save the majority! Their support is totally dead, they have targeted the most weakest portion of the users, Iranians (like me) , users from Middle East, Eastern Europe, ... or users with very huge (for an exchange user) deposits.

The scam scenario:

1- In October 12 (or so) Bittrex changed its withdrawal policy, overnight, without any prior warning. As a result users with 'basic verification level' (verified minimally by e-mail) was no longer able to withdraw any funds. These users were able to withdraw up to 1 btc/day prior to the scam.

2- At the same time Bittrex invented a new term 'disabled account' and put thousands of the users on this state. This trick was applied to the users who couldn't be scammed by the first trick because they have passed the more advanced verification step, (they have been chosen deliberately for the scam based on nationality, deposit level, .. ).  

3- Plus, Bittrex invented a new rule for a 'disabled account': you can't close it (claiming your deposit) before withdrawing all of your deposit and you can't do that either because it is 'disabled'.

4-Bittrex robotic support, asks the victims to supply a foolish selfie, which of course has no effect on the situation, support is dead, forever.

Now, 45 days is passed and thousands of users have lost millions of dollars, no support, no apologies, nothing!

I started this topic not only to keep pressure on the Bittrex and warn users but also for a more important purpose: to ask WHY?

Why the community remains silent?

Why the authorities do nothing?

Why bittrex is up and running?

What has changed so bad that a scandal like this does not stop btc price to go higher?

Isn't it about we, bitcoiners, preferring to remain in the denial phase and afraid of seeing the ugly face of our market which is full of, (actually overloaded by) scammers and opportunists who do not care about anything or anyone other than their fat ass?

Aren't we, most of us, a light version of such an opportunist, fat, greedy asswhole, who just have come to this market to harvest easy money and do not see anything beyond our nose?

Isn't it what makes us indifferent to the Bittrex scam?
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November 24, 2017, 10:10:59 AM
 #2

it was not the first time an exchanges doing something like this,
but even if we're facing this kind of shit from the exchanges,i doubt that a goverment will do something for us.
because the majority exchanges did not regulate their exchanges under law,
also the community remain silent because the majority people who has a problem with them from outside country.
and they're selectively choose their victim,
for example some of us have a problem with their account and can not withdraw his money around 0.1BTC,
do you think it's worth to take an action if your money or coin only worth around $1000 ?
that is one of the reason why would the victim remain silent,
but some of them keep trying and trying by sending the tickets and after a few months get the answer from them.

Bittrex will run if nobody want to take an action against them,
just like scammer in this forum,they will keep moving and exist in here because none of us take an action to fight them.

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November 24, 2017, 10:32:59 AM
 #3

It's funny and interesting how every exchange starts and then how they "end". When bittrex was launched their support worked 24/7 perfectly on time. Nobody had issues back then. Once they got big and riches the problems came together, lack of support, accounts closed with no apparently reason and listing shit coins besides the best ones. I won't be surprised if Bittrex suddenly disappear from the map, saying it was a hack attack. Kucoin is in the initial phase and they are the best exchange so far to have a good support. Let's see what happens in the next year.
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November 24, 2017, 11:24:36 AM
 #4

Have absolutely same problem: auto-verification failed and manual verification lasts for more than 7 days and neither answers nor emails!

The community just have to figure out a way to deal with this type of scam.

Otherwise we will continue to lose our money and crypto currencies will be losing people's trust.
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November 24, 2017, 11:29:21 AM
 #5

I really hope Bittrex have some explanation on this.

well, currently poloneix, coinexchange is still the most trusted exchange site for me.
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November 24, 2017, 11:32:30 AM
 #6

BTW have the same situation with poloniex (12 days of silence). The only difference is that I have zero balance there.
These "whales" just lost their mind!

Or they think that soon all this (crypto-rush) will be over and now it's time to get profit ASAP?
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November 24, 2017, 11:37:04 AM
 #7

If all exchange like this? What will make people want to trade in cryptocurrency? Everybody said that trading crypto is easy to get extra income but the exchange that trouble mean we make income only for exchange.

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November 24, 2017, 11:49:23 AM
 #8

Have absolutely same problem: auto-verification failed and manual verification lasts for more than 7 days and neither answers nor emails!

The community just have to figure out a way to deal with this type of scam.

Otherwise we will continue to lose our money and crypto currencies will be losing people's trust.

This is why, bitcoiners have remained silent dead!

They need this fake trust in cryptocurrencies to see the prices climbing up more. They desperately need it and deliberately ignore the crisis with exchanges, where the prices have to become true being translated to fiat currencies. It is sad, but should be admitted: cryptos, in this period of their evolution (and bitcoin for the eternity I suppose) are not cash, they can't be used practically in commerce (forget about exceptions), they should be converted to USD, Euro, Yuwan, ... Any doubts?

So, denial is the only weapon to keep the bubble growing crazy. But it is ridiculous! What kind of a coward one should be to deny her illness instead of fighting it?

 
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November 24, 2017, 11:55:28 AM
 #9

Have absolutely same problem: auto-verification failed and manual verification lasts for more than 7 days and neither answers nor emails!

The community just have to figure out a way to deal with this type of scam.

Otherwise we will continue to lose our money and crypto currencies will be losing people's trust.

This is why, bitcoiners have remained silent dead!

They need this fake trust in cryptocurrencies to see the prices climbing up more. They desperately need it and deliberately ignore the crisis with exchanges, where the prices have to become true being translated to fiat currencies. It is sad, but should be admitted: cryptos, in this period of their evolution (and bitcoin for the eternity I suppose) are not cash, they can't be used practically in commerce (forget about exceptions), they should be converted to USD, Euro, Yuwan, ... Any doubts?

So, denial is the only weapon to keep the bubble growing crazy. But it is ridiculous! What kind of a coward one should be to deny her illness instead of fighting it?

Absolutely! This is like everyone ignores that the king is naked! Just like dancing in a room while the rest of the house is already on fire.
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November 24, 2017, 11:55:59 AM
 #10

Have absolutely same problem: auto-verification failed and manual verification lasts for more than 7 days and neither answers nor emails!

The community just have to figure out a way to deal with this type of scam.

Otherwise we will continue to lose our money and crypto currencies will be losing people's trust.

This is why, bitcoiners have remained silent dead!

They need this fake trust in cryptocurrencies to see the prices climbing up more. They desperately need it and deliberately ignore the crisis with exchanges, where the prices have to become true being translated to fiat currencies. It is sad, but should be admitted: cryptos, in this period of their evolution (and bitcoin for the eternity I suppose) are not cash, they can't be used practically in commerce (forget about exceptions), they should be converted to USD, Euro, Yuwan, ... Any doubts?

So, denial is the only weapon to keep the bubble growing crazy. But it is ridiculous! What kind of a coward one should be to deny her illness instead of fighting it?

 
It is insane and I agree with you. I remember reading an article where one of this economist mentioned that 'if care is not taken, this same technology will actually bring the end to itself, if the government does not bring an end to it first'. If some of these things are overlooked, and exchanges just keeps on going like this, then what is there to trust?

Probably, we just stop trading and start P2P trading or we wait until we start seeing decentralized exchanges popping up. It is really crazy! I may not be affected as I am verified, but this bullshit can happen at anytime to anybody, even a present verified user. We are not safe at all.

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November 24, 2017, 12:03:23 PM
 #11

Calling a denial phase is a little wrong because:

People who are not members of Bittrex can't deny or accept something that they are not suffering from.
People who now have a problem with Bittrex don't deny the situation
People, members of Bittrex with their account working fine are thinking "I don't care, my account is fine and I am not concerned"

We can't say if the 0.1% of locked account is accurate or just exaggerating as we can't verify but reading complaints here and there can give a good idea (that it can happen to every account soon or later). And it's usually more easy to find complaints on the web about any company than praises and applause.

The pressure by authorities an be a real possible scenario, but not saying which is making the story more suspicious. But I don't why they would want to make an exit scam while the company is profitable to them.

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November 25, 2017, 06:11:31 AM
 #12

If all exchange like this? What will make people want to trade in cryptocurrency? Everybody said that trading crypto is easy to get extra income but the exchange that trouble mean we make income only for exchange.
It would really start being a huge issue trading cryptocurrency in the long run if exchanges keep up like this until we start having decentralized exchanges where users will have total access and full control of their funds. However, I guess it is not something that we should expect anytime soon since it seems most of these exchanges all have a hidden agenda which is locking people's account in the name of verification, taking their funds and keeping silent on it.

Why should a verified user be at ease knowing that anything can also happen to their accounts as well without being notified?

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November 25, 2017, 10:21:40 AM
 #13

This is a real case happened with my friend on bittrex,
He's got hacked 10k USD, withdrew in BTC to another account. He cried it to the support team and guess what??? They replied with a sorry email including an activity report of his account.
SO BE CAREFUL GUYS...
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November 25, 2017, 11:21:27 AM
 #14

I have been trading in Poloniex but was thinking of moving to bittrex. Would that be a foolish decision?
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November 25, 2017, 11:31:43 AM
 #15

This is a real case happened with my friend on bittrex,
He's got hacked 10k USD, withdrew in BTC to another account. He cried it to the support team and guess what??? They replied with a sorry email including an activity report of his account.
SO BE CAREFUL GUYS...
Securing the account is not the job of Bittrex, securing Bittrex site is the job of Bittrex. So if your friends account was hacked then it's teh fault of your friend because your friend may have not used a password that is not so easy to guess and your friend may have not used 2FA to further secure the account.

I have been trading in Poloniex but was thinking of moving to bittrex. Would that be a foolish decision?

Why do you plan to move Bittrex in the first place if you have no problem with Poloniex? But I see no problem with using both trading platform.
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November 25, 2017, 11:50:30 AM
 #16

Once upon a time, MtGox was a BIG exchange and messed up by doing a small mistake: putting all user deposits in the company's hot wallet which leaked and leaked up to a bankruptcy point ....

As a consequence by revealing the fact that bitcoin is vulnerable in its borders(exchanges), its price fallen down to the earth from the sky and remained  there for almost 2 years! Japanese authorities came to the scene and did their job as expected ...

it was an earthquake, initiated by a mistake not even an intentional fraud plot and yet ...

Now we have Bittrex, currently, one of the largest exchanges in the world and it is not about a technical mistake but a deliberate, sophisticated series of fraud and scamming people by the site owner(s),  thousands of users have been affected and millions of dollars have been gone into the packets of the thieves who are not responsive at all and has sufficed to make a very short misleading statement of no help, saying :"it is about 0.1% of the users" and doesn't say anything rational about why and how they have blocked users access to their funds.

Meanwhile their agents informally make false claims about a mysterious pressure by unknown authorities from unknown countries which is threatening the whole firm and its users and they have sacrificed those 0.1% to make their majesty happy and save the majority! Their support is totally dead, they have targeted the most weakest portion of the users, Iranians (like me) , users from Middle East, Eastern Europe, ... or users with very huge (for an exchange user) deposits.

The scam scenario:

1- In October 12 (or so) Bittrex changed its withdrawal policy, overnight, without any prior warning. As a result users with 'basic verification level' (verified minimally by e-mail) was no longer able to withdraw any funds. These users were able to withdraw up to 1 btc/day prior to the scam.

2- At the same time Bittrex invented a new term 'disabled account' and put thousands of the users on this state. This trick was applied to the users who couldn't be scammed by the first trick because they have passed the more advanced verification step, (they have been chosen deliberately for the scam based on nationality, deposit level, .. ).  

3- Plus, Bittrex invented a new rule for a 'disabled account': you can't close it (claiming your deposit) before withdrawing all of your deposit and you can't do that either because it is 'disabled'.

4-Bittrex robotic support, asks the victims to supply a foolish selfie, which of course has no effect on the situation, support is dead, forever.

Now, 45 days is passed and thousands of users have lost millions of dollars, no support, no apologies, nothing!

I started this topic not only to keep pressure on the Bittrex and warn users but also for a more important purpose: to ask WHY?

Why the community remains silent?

Why the authorities do nothing?

Why bittrex is up and running?

What has changed so bad that a scandal like this does not stop btc price to go higher?

Isn't it about we, bitcoiners, preferring to remain in the denial phase and afraid of seeing the ugly face of our market which is full of, (actually overloaded by) scammers and opportunists who do not care about anything or anyone other than their fat ass?

Aren't we, most of us, a light version of such an opportunist, fat, greedy asswhole, who just have come to this market to harvest easy money and do not see anything beyond our nose?

Isn't it what makes us indifferent to the Bittrex scam?



Your completely right! I have 4 k usd locked in this shittrex, they made changes without notice, they should have at least give us a 48 hrs grace time to take out our money!  Im located outside of the US and I have no clue how to deal with the situation. If we will be able to form a group of people in someway that all will agree to share the problem and we will be able to find a lawyer that willing to deal with it, I dont care to give 50 % of my locked money to one like that, its matter of principle and I`m sure that many other people will be happy to do the same just to get those crooks behind the bars, then there is a good chance that someone will try to do that, it can sum up to many thousands or even more as payment to him. If I had the know how I would open up a site that can collect all the people and then we had away to collaborate together. the forums are nice to see that your not alone, but dont give enough info on the story such as how many people out there who got fucked etc etc...
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November 25, 2017, 02:21:52 PM
 #17

AS of class action against Bittrex, I started a topic almost one month ago, it didn't work. Most of the victims have little or zero access to US jurisdiction system. On the other side Trump administration is really a mess. A super power like USA has global responsibilities which Trump denies them basically and so they do not feel responsible for most of the victims, I mean US attorney general and FBI both directly being under the command of Trump.

This is one of the reasons that I classify Bittrex scam as a sophisticated one. These thieves have spent a lot to get an extensive consultancy and have planned the scam in details. For instance they have injected ambiguous phrases and backdoors in their ToS that discourages users from participating in class actions and even forces them to go Washington and resolve their issues with an specific law firm and etc.

But no matter how much they are sophisticated in being an evil I believe the whole situation is not in their favor and they will go behind the bars in near future because exactly the same walls they have built for their own protection is an evidence of their plotted action against users and will not stand against a sophisticated lawsuit, I believe.
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November 25, 2017, 03:31:07 PM
 #18

A major American stock exchange bittrex engaged in fraud. Under the guise of checking documents, they freeze the accounts in which their assets are large sums of money. On this exchange I worked from August 2017, the withdrawal was done only once, without any identity checks. The amount of money I withdrew not in large quantity, to verify the withdrawal. They quietly brought in for 10 minutes. The rest of a large sum of money left on their account. And once I come into my office and found a Cabinet that my Deposit WARNING ABOUT DEPOSITS
http://storage6.static.itmages.ru/i/17/1124/h_1511492302_1939375_45b537e25c.jpg
and the output limit is -0 (zero) per day. And put the conditions on inspection of the alleged documents
http://storage7.static.itmages.ru/i/17/1124/h_1511492366_9234011_923fcebec2.jpg
I send them the document for review, I receive an answer on the website
http://storage8.static.itmages.ru/i/17/1124/h_1511492409_5531227_cbfe12cba2.jpg
I was expecting any response, seven days, and more than a month. Repeat test not possible on the website - there is no button (icon) to attach documents. And technical support write
http://storage9.static.itmages.ru/i/17/1124/h_1511492480_2781413_6730f44c8e.jpg
http://storage1.static.itmages.ru/i/17/1124/h_1511492506_2531249_332e1c28be.jpg
In response, we get automatic emails (bots).
On the stock exchange, no feedback, no phone to contact and get to know the reason for their illegal actions.
My account has been blocked, money I can not withdraw from the exchange, the exchange shall inform clients that a minimum waiting period of 24 hours before they unlock the account. But I've been waiting for over a month, not 24 hours. If the value of my account is in more than 1000 dollars, I should give them the documents and my account is much less than $ 1,000, the ticket number 390966, which I sent to the technical support documents I gave them

 It is engaged in a major exchange. People have their funds, and withdraw from there, they can't. I want to warn You, don't make their money on the stock market until You pass the verification, the verification of documents. If they are engaged in such fraud. they can come up with anything, so you could not withdraw funds.
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November 25, 2017, 03:43:03 PM
 #19

Would they really end up like Mintpal? That is what really troubled me, the verification nonsense they recently imposed. Luckily I withdrew no problem without any hassles last September and used Polo (though I still hate them) ever since. They started with the support replying with copy-pasted texts and doesn't seem to understand my problem about deposits and I just gave up. Sooner or later Bittrex would pull up a Gox, and the recent letter is just a front for us to feel that they're still operational.

Withdraw while you can folks. This will turn south so fast.

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November 25, 2017, 03:46:48 PM
 #20

Tell me, whom can I contact for help who will help us, it is illegal, every day I write the tickets to the technical support, turn on, Twitter, facebook, and in response dead silence, just kidding. I this treatment of customers have not seen any where.. How many people write to them, I ask that the accounts unblocked. It's like they are laughing at us. They can influence who to ask, let's all get together, write a complaint to them that all people learned about the fraud bittrex
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