Unlike banks that have some oversight in how they can control one’s access to their accounts, cryptocurrency exchanges are a law unto their own. Traders using Bitcoin India have found this out the hard way as the exchange has locked them out of their accounts for up to a month..
According to Factor Daily, Bitcoin India, founded in 2014 and headquartered in Andhra Pradesh’s Prakasam district, is one of the few exchanges in India that supports multiple cryptocurrencies, including Bitcoin, Ether, Dash, Litecoin, and others, in addition to the mining contracts that it offers. One told local media: According to a number of investors on the Bitcoin India platform, the lockout began in September when they started to receive messages and pop-ups saying that they have been logged out of their accounts due to suspicious activity or exceeding trade limits..
Traders insist there was no clause in their agreement with Bitcoin India of any limit on trades. Bitcoin India told a Delhi-based networking engineer that he had crossed his buy and sell limit..
To that, he says: I had joined Bitcoin India because they showed better rates for cryptocurrencies and had also offered more cryptocurrencies to trade. However, in a press release on Thursday, Bitcoin India said: Due to recent unexpected user growth that is driven by soaring demand in Asia to buy/sell digital assets, which lead us to get huge number of support tickets all of sudden, we are currently experiencing delays resolving support tickets..
http://bitcoinist.com/bitcoin-india-accounts-locked-month/
