Bitcoin Forum
August 03, 2021, 01:20:25 PM *
News: Latest Bitcoin Core release: 0.21.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Bittrex Moving Big amounts  (Read 122 times)
setifien19
Full Member
***
Offline Offline

Activity: 462
Merit: 101


View Profile
January 11, 2019, 11:28:52 PM
 #1

Many worries about the last situation within bittrex which moved considerably funds from long period non-active wallets .
And this was their response

1627996825
Hero Member
*
Offline Offline

Posts: 1627996825

View Profile Personal Message (Offline)

Ignore
1627996825
Reply with quote  #2

1627996825
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1627996825
Hero Member
*
Offline Offline

Posts: 1627996825

View Profile Personal Message (Offline)

Ignore
1627996825
Reply with quote  #2

1627996825
Report to moderator
1627996825
Hero Member
*
Offline Offline

Posts: 1627996825

View Profile Personal Message (Offline)

Ignore
1627996825
Reply with quote  #2

1627996825
Report to moderator
1627996825
Hero Member
*
Offline Offline

Posts: 1627996825

View Profile Personal Message (Offline)

Ignore
1627996825
Reply with quote  #2

1627996825
Report to moderator
OmegaStarScream
Staff
Legendary
*
Offline Offline

Activity: 2464
Merit: 2730



View Profile
January 12, 2019, 10:44:23 AM
 #2

I stopped using Bittrex since their last KYC move where they forced everyone to verify their accounts and as unprofessional as it was, I still think they are a good service, I wouldn't be worried.

magneto
Hero Member
*****
Offline Offline

Activity: 1400
Merit: 688



View Profile
January 14, 2019, 02:36:58 PM
 #3

That's the thing with monitoring exchanges' or the so called "whales" addresses. Everything is speculative and there is no evidence of insolvency or something bad happening simply based on the fact that large amount of funds have been moved. A lot of the times things can be made to look worse than what is actually the case.

I stopped using Bittrex since their last KYC move where they forced everyone to verify their accounts

That's exactly what I did as well.

Same with poloniex, the situation was quite similar. Both exchanges were pretty much at the top of their game before they removed the option of a legacy account altogether and forced verification onto every single user. Their customer support at one stage was pretty bad as well, leading to a lot of complaints against Bittrex which I remember that existed on bitcointalk.

TBH, there are a lot of exchanges with more volume, liquidity, have more professional customer service and offer pseudo-anonymous accounts to users at this point in time. Unless you are absolutely used to using them, or have to use one of their features, looking into new exchanges to diversify to wouldn't be a bad idea (you honestly should do this regardless of what exchange you are on, though, to spread the risk of exit scamming exchanges).

Raja_MBZ
Legendary
*
Offline Offline

Activity: 1708
Merit: 1395


Any questions related to my signature site? PM me!


View Profile
January 14, 2019, 06:49:37 PM
 #4

IMHO, nothing to be worried about. They're probably trying what Mr. CZ (Binance) did:

We will be moving some funds between our cold wallets. A tell tale sign of a new cold wallet on Binance is two small transfers from and BACK TO an existing wallet, then a large transaction. No need to be alarmed. Funds are #SAFU.

...this actually resulted in some nice profits for Binance:

4 days ago Binance had 20M USDT in its hot wallet. Then CZ transferred 30M from Binance’s cold to its hot wallet. Crypto pumped immediately afterwards. Today crypto dumped hard. Then CZ sent 30M back to Binance’s cold wallet. Binance was left with 51M in its hot wallet. Bravo CZ!



I stopped using Bittrex since their last KYC move where they forced everyone to verify their accounts and as unprofessional as it was, I still think they are a good service, I wouldn't be worried.

I did complete their KYC requirement and continued to use them. They've made bank wire deposits & withdrawals very easy. IMO, Bittrex is still the number one!

OmegaStarScream
Staff
Legendary
*
Offline Offline

Activity: 2464
Merit: 2730



View Profile
January 15, 2019, 07:01:47 AM
 #5

I did complete their KYC requirement and continued to use them. They've made bank wire deposits & withdrawals very easy. IMO, Bittrex is still the number one!

It might be the case but I would've understood better If they asked the new users for that and not the current ones with no prior notice, that sounded very unprofessional.

I'm pretty sure that was on purpose to a certain degree. If you're running one of the largest exchange platforms out there, you should at least know what is crypto is about and that most people care about their privacy. So when they did this move, they knew exactly what they were doing.

Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!