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December 23, 2013, 09:36:24 AM |
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This is an urgent warning to anybody who has used BTC-e in the past or who is planning to do so in the future.
In November and early December I made three large dollar deposits by International Wire (Swift). After some delays, the deposits did appear in my BTC-e account and I used them to buy coins.
However, on checking it turns out that the amount credited by BTC-e to my account was significantly less than the amounts transferred.
The deposits were for a total of US$ 55,257.50. However, the total sum credited was US$ 53,103.61. In other words, US$ 2,153.89 has disappeared. This represents about 4% of the total deposit.
There is no obvious explanation for the deductions. They are nothing to do with exchange rates because the deposits were sent as dollar sums with all charges being paid at my end. Nor is there anything in BTC-e’s terms and conditions that would justify these deductions.
I have raised a ticket, provided copies of the Swifts and sent three polite chasers but have had no response of any kind except an auto-acknowledgment when the ticket was first raised.
In light of the above, I strongly recommend that anybody who has made dollar deposits to BTC-e in the past should check that the credit amount is correct. And if you are thinking of using BTC-e in future, I recommend caution. Although their prices are generally lower than Bitstamp, the advantage disappears once you factor in a deposit loss of 4%.
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