Is biggest EU exchange BitBay in financial distress or in danger? $40k withheld

[CryptoRating]

Summary:
- BitBay moved from Poland to Malta in 2018,
- BitBay customer demands via attorney $40000 of his funds, unlawfully withheld by BitBay since 13 December 2018
- BitBay confirms the situation and claims release is agains their regulations, no further details or resolution dates
Is it possible that due to weak new funds inflow exchange suffers from lack of fiat money funds?


Today, on one of the biggest social sites in Poland, BitBay's customer claimed that cryptocurrency exchange is withholding his funds of 150000 PLN (equivalent of $40,000 USD) since 13 December 2018. He supports his claims with attorney's demand to release funds: documents, case description, BitBay statement.

BitBay in the statement denies financial problems and promises new functionalities and releases. On the other hand side, after a year of operation in unfavorable market conditions, cryptocurrency projects are not supported by the easy capital of willing investors, as it was at the beginning of 2018. The shortages in fiat currencies affect some exchanges and most of startups. It is possible that with larger transfers, such as the mentioned PLN 150 000 (over USD $40 000), the liquidity of the stock exchange may simply shake.

Most of the withdrawals are functionings well, but there has been occurrences such as the one above in the past. Customers had to wait for months, some haven't received funds yet. Do you think it is possible that, as written in the article, there could be solvency problem of such a big exchange?

[1714907449]

1714907449

[yousefh]

in 3 weeks top from now  , BTC will be @~5365$ (even higher in a longer term), i think this might be why they held the money.
i bit they made the transaction on waiting (like 40,000$ status: waiting) till the price go up, they will be profiting about 33% just for stalling.

and if anyone asks to get paid on the new exchange, the answer we already did the exchange on the time, but we had a problem in the blah blah blah

[CryptoRating]

in 3 weeks top from now  , BTC will be @~5365$ (even higher in a longer term), i think this might be why they held the money.
i bit they made the transaction on waiting (like 40,000$ status: waiting) till the price go up, they will be profiting about 33% just for stalling.

and if anyone asks to get paid on the new exchange, the answer we already did the exchange on the time, but we had a problem in the blah blah blah

This is supposedly NOT the reason of withholding the funds. It is simply way too few dollars to do such company public image damage. The question is if it is a liquidity problem?

[CryptoRating]

Funds of the user are still kept by the BitBay exchange. There were personal meeting in the company's site, but without any resolution. Interesting case and still in progress.