Warning. Be very careful with bitbay Exchange!!

[GiovanniC]

Hi
I would like to warn you about this exchange: bitbay.
After depositing my money on their trading platform, they froze my account for no reason, they asked me for a selfie with my ID that I promptly sent to them.
After a few days they do not answer anymore and they keep my money or bitcoin without reason.
be very careful if you want to use this exchange.
You risk losing money or bitcoins and nobody answers you!!

[OmegaStarScream]

Appreciate the warning but you should've searched before using it. There have been multiple warnings[1][2][3] about the website in the past as well.

[1] https://bitcointalk.org/index.php?topic=2078647.0
[2] https://bitcointalk.org/index.php?topic=2978978.0
[3] https://bitcointalk.org/index.php?topic=2249967.0

[jhenfelipe]

This was from bitbay FAQ:

Do I need to verify my account?

According to the terms of use, the account should be verified in order to obtain full functionality of the website. Full functionality means for example: the possibility to withdraw the funds from the account - both fiat and digital currencies, and to deposit fiat currencies on exchange.

Same case happened to someone, but in a different exchange. A friendly advice, next time you decided to sign up in an exchange (or in other sites), make sure to read the TOS or search atleast if they will require you to do KYC to use their full service before making a deposit.

[Tytanowy Janusz]

Bitbay definetly is not a scam exchange. You can be sure that you will soonly see your founds. Bitbay is older than binance and for years is gaining trust. Perhaps in situation where you will firstly veryfi yourself (what is written in FAQ) your money would be avaible faster.

Dont worry. They whon't scam you.

[GiovanniC]

I update you on the situation.
they answered me a few days ago telling me to wait a few more days for security reasons..
several days have passed and they continue to illegitimately keep my funds. I do not know what to think! I sent to them my hard-earned money and they think to steal it like that?
I begin to think that they have scammed me.
I keep you updated on the situation
for now I advise you to be very careful or avoid this exchange.

[juperos]

Hi
I would like to warn you about this exchange: bitbay.
After depositing my money on their trading platform, they froze my account for no reason, they asked me for a selfie with my ID that I promptly sent to them.
After a few days they do not answer anymore and they keep my money or bitcoin without reason.
be very careful if you want to use this exchange.
You risk losing money or bitcoins and nobody answers you!!

Be careful with new exchanges, where a lot of fraudulent things happen.
The trading floors even fabricated that the trading floor was knocked down and they took all the users' money and fled. so investing in large exchanges will be better.

[vixcious]

Hi
I would like to warn you about this exchange: bitbay.
After depositing my money on their trading platform, they froze my account for no reason, they asked me for a selfie with my ID that I promptly sent to them.
After a few days they do not answer anymore and they keep my money or bitcoin without reason.
be very careful if you want to use this exchange.
You risk losing money or bitcoins and nobody answers you!!

You should submit photo evidence to confirm that people are real. Because your words can make Bitbay lose many investors.
I watched the brief and felt it was a good trading floor. I don't feel it's insecure!

[Tytanowy Janusz]

Be careful with new exchanges, where a lot of fraudulent things happen.
The trading floors even fabricated that the trading floor was knocked down and they took all the users' money and fled. so investing in large exchanges will be better.

As I said Bitbay is not a new exchange. It was made in 2014 ... Binance was made in 2017. They are boulding trust for 4 years not to loose it by scamming one person. They moved to Malta few months ago and maybe they have some problems with banking.
Im sure they wont scam you. I understand your frustration. Their behavior should be stigmatized but its more like huge mistake rather than intentional scam.

[gentlemand]

Freezing and demanding ID after depositing or requesting a crypto withdraw is a prime dick move. If that's how they operate then they should not open wallets up to people until they've fully verified themselves. Anything else smacks of questionable ethics.

[Kemarit]

I'm assuming the OP has deposited or trying to withdraw huge amount of bitcoin that might suddenly caught the exchange some red flag that's why they require KYC for the OP to submit. The funny thing is, when you deposited bitcoin to them they didn't even ask you a ID or Selfie maybe just a simple email confirmation. So yes, this is a bitch move, I haven't try Bitbay though so I can't comment about their services, but what the OP described seems very suspicious to me.

[Tytanowy Janusz]

Freezing and demanding ID after depositing or requesting a crypto withdraw is a prime dick move. If that's how they operate then they should not open wallets up to people until they've fully verified themselves. Anything else smacks of questionable ethics.

In Q&A and terms of use it is written that withdrawing is impossible without KYC. Op should read it beafore depositing founds. Again. This exchange works for 4 years. It is not shitexchange that seeing big deposit they froze it and demand for multiple things one by one just to be able to lock founds for longer period.

[gentlemand]

In Q&A and terms of use it is written that withdrawing is impossible without KYC. Op should read it beafore depositing founds. Again. This exchange works for 4 years. It is not shitexchange that seeing big deposit they froze it and demand for multiple things one by one just to be able to lock founds for longer period.

That's fair enough then. It would still be courteous to have a large sign for unverified users on the deposit page telling them where they stand and what they need to do to access the full functions of the exchange.

It's the number one freakout for users and it would be helpful to not have it buried in areas people never read, though of course they should.

[mersal]

Freezing and demanding ID after depositing or requesting a crypto withdraw is a prime dick move. If that's how they operate then they should not open wallets up to people until they've fully verified themselves. Anything else smacks of questionable ethics.

In Q&A and terms of use it is written that withdrawing is impossible without KYC. Op should read it beafore depositing founds. Again. This exchange works for 4 years. It is not shitexchange that seeing big deposit they froze it and demand for multiple things one by one just to be able to lock founds for longer period.

Read what OP said,he even sent the sent the details what they asked for but still no reply means they are doing it for scamming purpose.If some site is staying too long doesn't mean they are legitimate.

[Tytanowy Janusz]

Freezing and demanding ID after depositing or requesting a crypto withdraw is a prime dick move. If that's how they operate then they should not open wallets up to people until they've fully verified themselves. Anything else smacks of questionable ethics.

In Q&A and terms of use it is written that withdrawing is impossible without KYC. Op should read it beafore depositing founds. Again. This exchange works for 4 years. It is not shitexchange that seeing big deposit they froze it and demand for multiple things one by one just to be able to lock founds for longer period.

Read what OP said,he even sent the sent the details what they asked for but still no reply means they are doing it for scamming purpose.If some site is staying too long doesn't mean they are legitimate.

Yea... They were boulding trust for 4 years to scam 1 person - thats not how exit scams looks like, its like new exchanges are scaming first user that transfered money. It is more like huge mistake rather than intentional scam. OP got all information from us. Lets w8 how it will end up. I bet he will get his money back together with apologies.

[aervin11]

Freezing and demanding ID after depositing or requesting a crypto withdraw is a prime dick move. If that's how they operate then they should not open wallets up to people until they've fully verified themselves. Anything else smacks of questionable ethics.

In Q&A and terms of use it is written that withdrawing is impossible without KYC. Op should read it beafore depositing founds. Again. This exchange works for 4 years. It is not shitexchange that seeing big deposit they froze it and demand for multiple things one by one just to be able to lock founds for longer period.

Read what OP said,he even sent the sent the details what they asked for but still no reply means they are doing it for scamming purpose.If some site is staying too long doesn't mean they are legitimate.

Let's consider that it's holiday season and normally, for a KYC to get approved, it takes 3-5 business days, that didn't include Holiday and weekends, maybe it just coincide that way because OP didnt state how many days ago he was told and did submit.

For the exchange, I can't talk about it much because it's new to me and I won't use that to trade high cap coins, I'd rather use the trusted ones I already knew. Maybe OP is using that exchange already for a long time and this thing happen, he won't deposit huge amount or any amount if he is not familiar with it.

[mersal]

Freezing and demanding ID after depositing or requesting a crypto withdraw is a prime dick move. If that's how they operate then they should not open wallets up to people until they've fully verified themselves. Anything else smacks of questionable ethics.

In Q&A and terms of use it is written that withdrawing is impossible without KYC. Op should read it beafore depositing founds. Again. This exchange works for 4 years. It is not shitexchange that seeing big deposit they froze it and demand for multiple things one by one just to be able to lock founds for longer period.

Read what OP said,he even sent the sent the details what they asked for but still no reply means they are doing it for scamming purpose.If some site is staying too long doesn't mean they are legitimate.

Let's consider that it's holiday season and normally, for a KYC to get approved, it takes 3-5 business days, that didn't include Holiday and weekends, maybe it just coincide that way because OP didnt state how many days ago he was told and did submit.

For the exchange, I can't talk about it much because it's new to me and I won't use that to trade high cap coins, I'd rather use the trusted ones I already knew. Maybe OP is using that exchange already for a long time and this thing happen, he won't deposit huge amount or any amount if he is not familiar with it.

Long wait sucks,you need to be in that situation to know how it feels we are not sure about we get scammed or not.Hopefully OP may not send huge amount to that exchange if his account gets verified consider himself lucky tho.

[Tytanowy Janusz]

Especially if OP wanted to buy bitcoin aroud 3,2k and now he is watching how its slowly growing not beeing able to do anything because founds are locked.

[BitHodler]

In Q&A and terms of use it is written that withdrawing is impossible without KYC. Op should read it beafore depositing founds. Again. This exchange works for 4 years. It is not shitexchange that seeing big deposit they froze it and demand for multiple things one by one just to be able to lock founds for longer period.

It would make more sense if they disabled deposits for those who aren't verified yet, because we all know that while you should read the terms before registering, no one actually does so.

I'm using a local exchange and while I didn't read through the terms myself, the exchange didn't allow me to deposit anything until I actually went ahead and verified myself. Now that's how an exchange should be.

If you don't allow people to deposit without verification, you won't have to endlessly send emails back and forth, and thus will save every party involved a lot of time and headache.

[harleymasters]

Thanks for your warning. How can you contact the Bitbay support party or their exact twitter pages? Hopefully they will give you a reasonable answer for those actions. Maybe that's just a mistake in the management of this exchanges! Good luck !

[GiovanniC]

Hi.
I update you on the situation again.
Do you know what's new?. They replied by saying that they do not make me withdraw the funds because according to them the documents I sent them have been digitally modified. This is simply ridiculous.
If this is the seriousness that is to be expected from this exchange stay away! I never thought they could get that far.
Because of them I'm risking losing over 500 euros.
I am a worker and a small investor and I have no money to waste
I made a bank transfer to them and I sent them all the required documents and now what do they want?
This whole story is simply absurd.
I think that if the situation is not resolved I see myself forced to report them to the authorities for embezzlement.