Bitfinex not responding

[russelluk]

I do not like to do this but I now feel I have no other option. I have now been waiting for over 5 weeks to get what I consider a large amount of USD out of Bitfinex to my bank account. The last communication I had with Bitfinex was on the 28 September where they told me that Crypto Capital had just started to resume USD wires. I cannot get any further update from them and they are not responding to my ticket request or follow up emails. I have even told them that they can just return the USD and let me take the money out in Bitcoin.

This is all a little disconcerting when you read the rumors of Bitfinex being insolvent. Now I do not think for one minute that they are but surely in such an environment they could at least make the effort to communicate with me. I have always liked Bitfinex and because of this I feel let down and disappointing.

If anyone from Bitfinex monitors this my support ticket is #966442. Please can you have this looked at and find my money. I just don't get it - I understand business so why would you leave a customer like me out in the cold like this? Surely to maintain a reputation you should be at least speaking to customers like me.

[CoinCodex]

Bitfinex denies insolvency rumours!

https://coincodex.com/article/2463/bitfinex-strongly-denies-insolvency-rumours/

[russelluk]

Dear Bitfinex,

I do not hold any credence in these rumors but what I do hate is the fact that I have (what is for me a large sum for me) USD missing in some kind of black hole between Bitfinex and my Bank. This has been the status for over 5 weeks now and you are not answering me with a simple update or the opportunity to return my money to my account so that I can withdraw in Bitcoin.

I understand from a statement you have made below that everything is going OK.

“Bitfinex is not insolvent, and a constant stream of Medium articles claiming otherwise is not going to change this. As one of only a very few exchanges operating since 2013, with a small team and low operating costs, we do not entirely understand the arguments that purport to show us to be insolvent without providing any explanation about why.”

You say you do not understand the arguments that evidence these rumors. The simple fact is that people like me are just being ignored by you while you boast of a small team and low operating costs. Low operating costs mean Jack shit when you do not provide a service. As much as we all hate the Banks the fact is a Bank would not keep me sitting here for 5 weeks wondering where the hell is my money.

For Gods sake please address my support ticket above.

[milewilda]

For Gods sake please address my support ticket above.

No one can help you out but yourself and you are not the only user that do experience such problem but there are lots.If you do look on current position of Bitfinex when it comes to exchanger
then its not surprising to have this issues.

Try to contact them on these mediums.

https://t.me/bfxtelegram
https://www.linkedin.com/company/bitfinex
https://www.facebook.com/bitfinex1
https://twitter.com/bitfinex

[John2020]

Proper confirmations should have been made before went deeply into such transaction with them, you still have to keep in touch with them always, so that will even help others

[squatter]

You say you do not understand the arguments that evidence these rumors. The simple fact is that people like me are just being ignored by you while you boast of a small team and low operating costs. Low operating costs mean Jack shit when you do not provide a service. As much as we all hate the Banks the fact is a Bank would not keep me sitting here for 5 weeks wondering where the hell is my money.

For Gods sake please address my support ticket above.

You're better off blowing them up on Reddit or Twitter than here. Years ago, there were a couple Bitfinex higher-ups on the forum, but not anymore.

There's a good possibility that this is about lost banking relationships. Complaints like yours have been popping up a lot over the past few weeks. The banking delays lasted for several months last year when Wells Fargo cut them off. They've apparently just severed ties with one of their banks:

Searching for a bailout of sorts, the Puerto Rican Noble Bank is “no longer profitable,” according to a source close to the matter who tipped the news to Bloomberg. With Noble Bank’s cryptocurrency partners reportedly jumping ship, Bitfinex has also severed its relationship with the financial firm, affirming in its blog post that “[stories] and allegations currently circulating mentioning an entity called Noble Bank have no impact on [its] operations, survivability, or solvency.”

Popular stablecoin Tether also terminated its relationship with the bank.

Then again, there were rumors that bank accounts worth €400M tied to Bitfinex were seized by Polish authorities a while back. So you never know.

[magneto]

Given the amount of complaints lately and the striking similarities with fiat withdrawals, it's probably not a far fetched idea to say that they are insolvent at all.

You're more likely to get an answer from them if you posted on their reddit, or twitter. I doubt that anyone still actively monitors bitcointalk from their end. But I reckon the only thing you are able to do at this point is just wait, and hope for the best. I think they're likely still return your funds, but time is a factor.

I would certainly warn against all users who are looking to use bitfinex presently and in the future, you're taking on a risk that they are indeed insolvent and have to deal with constant fiat withdrawal and deposit delays.

[gentlemand]

Given the amount of complaints lately and the striking similarities with fiat withdrawals, it's probably not a far fetched idea to say that they are insolvent at all.

They would've made staggering amounts of money during the bubble and they really would've had to have worked exceedingly hard to lose it all.

I would presume any USD delays are down to them changing banks. They recently hooked up with HSBC which is probably the end of a lengthy process of disruption.

[romani245]

Given the amount of complaints lately and the striking similarities with fiat withdrawals, it's probably not a far fetched idea to say that they are insolvent at all.

They would've made staggering amounts of money during the bubble and they really would've had to have worked exceedingly hard to lose it all.

I would presume any USD delays are down to them changing banks. They recently hooked up with HSBC which is probably the end of a lengthy process of disruption.

I saw the rumors about HSBC. I'll believe it when people stop complaining about this. It seems to be getting worse, not better.

$80 premium between Stamp and Bitfinex so far. I imagine this is why.

[russelluk]

For Gods sake please address my support ticket above.

No one can help you out but yourself and you are not the only user that do experience such problem but there are lots.If you do look on current position of Bitfinex when it comes to exchanger
then its not surprising to have this issues.

Try to contact them on these mediums.

https://t.me/bfxtelegram
https://www.linkedin.com/company/bitfinex
https://www.facebook.com/bitfinex1
https://twitter.com/bitfinex

I am not sure who posted this but that telegram site is an absolute scam - someone tried to pretend to be from Bitfinex and got me to send them my email and then they sent a crappy looking email supposedly from Bitfinex asking me to verify my account by depositing 1 bitcoin into an address they give. Is there no end to this crap!!!

[timerland]

Lack of communication resulting from a completely unresponsive support seems to be the primary issue that Bitfinex faces.

Also with the fact that their entire fiat currency deposit and withdrawal is just completely screwed up long before your complaints and even more so right now, it pretty much means that they are not a safe exchange to use right now.

You could reach out to them on other platforms, but I think warning others via this forum is the best you can do at the moment apart from keep trying to communicate via a support channel. They're being quite unreasonable especially when you've listed a refund in USD on their platform as an option, which can be done instantly.