www.BITSTAMP.net Bitcoin exchange site for USD/BTC

[deebosch]

Just got this:

"Bitstamp has detected an increase in the number of reports of phishing emails which were also received by some of our clients. Our technical team responded by examining the threat and setting immediate security measures in place to prevent potential risks.

As a precaution we have also applied this security measure to your account.

If you have received any emails with suspicious content and have opened links or attachments we highly recommend that you immediately contact a computer expert."

What do you think about it? I say its bullshit.

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[hazek]

I was just greeted with a big red warning that told me my password is too old and that I had to change it.

This and other types of warnings are part of our goal to provide the highest possible security for our users' accounts. Users who have not changed their password in a while will be alerted to increase the security of their account by changing the password, also users who do not have two factor authentication enabled.

[Kj1]

The timing of all the enhanced security measures is impeccable.  Maybee you should list them up and post as news, as to calm down your users?

[kakobrekla]

Yes coins so secure you can't get to them. Looks like they are following the market leader, MtGox.

[Rannasha]

I was just greeted with a big red warning that told me my password is too old and that I had to change it.

This and other types of warnings are part of our goal to provide the highest possible security for our users' accounts. Users who have not changed their password in a while will be alerted to increase the security of their account by changing the password, also users who do not have two factor authentication enabled.

So this message is just something that will periodically pop up and does not mean that there is an issue with my account?

(I was not affected by the BTC withdrawal issues that some had)

[hazek]

I was just greeted with a big red warning that told me my password is too old and that I had to change it.

This and other types of warnings are part of our goal to provide the highest possible security for our users' accounts. Users who have not changed their password in a while will be alerted to increase the security of their account by changing the password, also users who do not have two factor authentication enabled.

So this message is just something that will periodically pop up and does not mean that there is an issue with my account?

(I was not affected by the BTC withdrawal issues that some had)

Correct.

[Rannasha]

I was just greeted with a big red warning that told me my password is too old and that I had to change it.

This and other types of warnings are part of our goal to provide the highest possible security for our users' accounts. Users who have not changed their password in a while will be alerted to increase the security of their account by changing the password, also users who do not have two factor authentication enabled.

So this message is just something that will periodically pop up and does not mean that there is an issue with my account?

(I was not affected by the BTC withdrawal issues that some had)

Correct.

Ok, great. Thanks for the information.

[trdiablo]

Hazek, can you also comment around the SEPA withdrawals? What is going on, why are they not being processed atm? Why is support not responding?

[hazek]

Hazek, can you also comment around the SEPA withdrawals? What is going on, why are they not being processed atm? Why is support not responding?

There are no general withdrawal issues for any available method at this time. Support will respond for every individual case as soon as possible.

[deebosch]

hazek, please tell me,
why some people get this message "You are not allowed to withdraw bitcoins at the moment"?
If it is normal, why it is not described somewhere on the site, maybe in FAQ section?
Why support is ignoring requests and cant just respond with clarification?
If this limitation appears as a result of your "anti-phishing" campaign, as it is stated in recent email, how long do we have to wait for withdrawal to be re-enabled?

Thank you.

[MatTheCat]

hazek, please tell me,
why some people get this message "You are not allowed to withdraw bitcoins at the moment"?
If it is normal, why it is not described somewhere on the site, maybe in FAQ section?
Why support is ignoring requests and cant just respond with clarification?
If this limitation appears as a result of your "anti-phishing" campaign, as it is stated in recent email, how long do we have to wait for withdrawal to be re-enabled?

Thank you.

They aint ever gonna give you the lowdown on what is happening behind the scenes. But everyone getting all this security shit all at once, suspended withdrawals, double and treble checking of user details on every other transaction right at a time when Bitcoin and Bitcoin exchanges seem to be under attack from all angles.

.....c'mon, there is some kind of security breach here and the exchange operators are clearly worried about it and perhaps yet haven't found a way of nailing the problem and plugging the hole and are instead shooting their gun off in all directions for the time being.

[bananas]

 Sad to read all of this, Bitstamp seemed to be the only fully trustful exchange to me. I was planning making a really large USD deposit really soon, but probably i will not anymore. I can't risk having it frozen, delayed much less stolen. They don't even have a legal right to ask all your financial privacy based on a supposed KYC they are doing as if they were the federal police, what the hell were some of those questions for their customers who feel intimidated if they don't fully reply? Not even banks and govs can do that! It is PRIVATE in any civilized country, including the UK. So, to me, we don't have any safe place to exhange any considerable amount of money. Now BTC is really in trouble, if you can't properly exchange, BTC is restricted to candy transaction at the school.

 By the way, Bitstamp is not required to follow KYC procedures. Only Banks and financial instituions are required, and they don't do that by freezing account or asking private details of customer's lifes.

[kakobrekla]

oda.krell would love to hear your great experiences. PM him.

[bananas]

Completing my post, KYC just means asking for a ID document, properly verifying it and communicating any red flags on transactions or something to the authorities. The financial institution, which Bitstamp is not, can not act as an authority.
,
So Bitstamp is totally lying about it even if they have to comply to KYC.

[bananas]

And why the very small amount of 9 thousand dollar from an already indentified customer would give any red flags regarding illegal activity? BIG LOL.

[dust]

And why the very small amount of 9 thousand dollar from an already indentified customer would give any red flags regarding illegal activity? BIG LOL.

To be honest, $9000 is a pretty shady number in the world of AML/KYC.  Sad, but true.

[bananas]

And why the very small amount of 9 thousand dollar from an already indentified customer would give any red flags regarding illegal activity? BIG LOL.

To be honest, $9000 is a pretty shady number in the world of AML/KYC.  Sad, but true.

It is not, it is not aimed at street drug dealers, it is aimed at political corruption, organized crime etc but it does not matter. Just to make sense of it all. Just ask youself if your bank, which must comply to KYC,  where you surely have more money and transactions has ever frozen your account or required invasive information about you under a treat. Ask your friends, ask your relatives, ask anyone. They all will say no! It does not happen 'cause it is not required and if you are in good stand with your bank it is even illegal to freeze an account without a judicial order.

The first bank ever to behave like Bitstamp will have its reputation ruined and will be in legal trouble.

[oda.krell]

Completing my post, KYC just means asking for a ID document, properly verifying it and communicating any red flags on transactions or something to the authorities. The financial institution, which Bitstamp is not, can not act as an authority.
,
So Bitstamp is totally lying about it even if they have to comply to KYC.

Cry me a river. What happens if you *don't* comply with KYC/AML you can see over at your friendly neighborhood exchange mtgox. I prefer stamp to comply, and my funds to be safe. If you're so concerned about revealing your private data, which I can understand to a degree, use localbitcoin. Simple as that.

[kuroman]

And why the very small amount of 9 thousand dollar from an already indentified customer would give any red flags regarding illegal activity? BIG LOL.

To be honest, $9000 is a pretty shady number in the world of AML/KYC.  Sad, but true.

It is not, it is not aimed at street drug dealers, it is aimed at political corruption, organized crime etc but it does not matter. Just to make sense of it all. Just ask youself if your bank, which must comply to KYC,  where you surely have more money and transactions has ever frozen your account or required invasive information about you under a treat. Ask your friends, ask your relatives, ask anyone. They all will say no! It does not happen 'cause it is not required and if you are in good stand with your bank it is even illegal to freeze an account without a judicial order.

The first bank ever to behave like Bitstamp will have its reputation ruined and will be in legal trouble.

At least here in EU, anything beyond 3K€ needs to be justified from/to bank per said periode of time ( a week I think) and the amount is even less depending on the country, I don't know about the US but I won't be surprised if there isn't something similar. Of course I'm talking about the average joe account, a professional business man, enterprise or commercent ect accounts are a different story

[DynamicDK]

Completing my post, KYC just means asking for a ID document, properly verifying it and communicating any red flags on transactions or something to the authorities. The financial institution, which Bitstamp is not, can not act as an authority.
,
So Bitstamp is totally lying about it even if they have to comply to KYC.

What are they lying about?  If they handle their KYC now, then it will be less of an issue as regulations begin to solidify in the US, and other countries.  And yes, if you are depositing your funds in their exchange, then they most certainly can act as an authority.  You are giving them that power by using their service.  If you do not like it, then use localbitcoins and keep everything in your own personal wallet.

Just because you do not WANT them to do KYC does not mean they should not.  This is a good move on their part.

Also, KYC is not a set list of instructions for identification.  With AML\KYC, there are certain required points of identification that they will be required to have, but they are also required to do whatever they can, beyond the stated requirements, to verify and identify their customers.  It is their choice as to what they do, and it is better to go for overkill than not enough.