uralcryptocoin (OP)
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SIGNATURE CREATION by uralcryptocoin
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February 28, 2022, 05:05:31 PM |
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Bittrex blocks verified accounts due to one's localeBittrex blocked my verified account that I created more than 5 years ago with NO warning notificationThe reasons described by bittrex support look as follows: Be aware of this using this exchange
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BTC Bitcoin: A Peer-to-Peer Electronic Cash System BTC A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
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SFR10
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Crypto Swap Exchange
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February 28, 2022, 09:16:01 PM |
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Bittrex blocked my verified account that I created more than 5 years ago with NO warning notification
That really sucks! You're probably a Russian or someone who lives in there; hence the collateral [ish] damage: Crypto exchanges consider Ukraine’s call to freeze Russians’ BitcoinI guess there's still some chance of getting it back in the future... I think it fits more in the " Exchanges" board instead.
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Bitcoin_Arena
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฿itcoin for all, All for ฿itcoin.
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February 28, 2022, 10:20:16 PM |
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Sorry about that.
This is why we should never completely trust centralized exchanges with our funds, especially when keeping the money in there for a long time. With the war raging on between Russia and Ukraine, I think more exchanges, especially those that are highly regulated, are bound to follow the same trend.
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sheenshane
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February 28, 2022, 11:30:11 PM |
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Sorry to hear that and I think just extend your patience and this will might be resolved soon. You're not alone here, even non-crypto exchanges were also affected by the sanctions that were being introduced by the United States on Russia, exchange industries are entitled to comply with this sanction as they are centralized ones.
This has nothing we can do about the centralized exchange, it always matters on the government's compliances.
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jokers10
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Playgram - The Telegram Casino
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March 01, 2022, 02:48:24 AM |
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Sorry to hear that and I think just extend your patience and this will might be resolved soon. You're not alone here, even non-crypto exchanges were also affected by the sanctions that were being introduced by the United States on Russia, exchange industries are entitled to comply with this sanction as they are centralized ones.
This has nothing we can do about the centralized exchange, it always matters on the government's compliances.
There are no US sanctions against each and every individual from Russia. If it was so then there would be fewer questions for this exchange. So it is not about government's compliances yet. And so yes, it is about why decentralized decisions are much better: you just never know when and why a centralized company would decide not to let you to operate your own money.
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dkbit98
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March 01, 2022, 11:06:28 AM |
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Bittrex blocked my verified account that I created more than 5 years ago with NO warning notification
I heard many complains for Bittrex exchange and it doesn't really matter when exactly you created account there, yesterday or five years ago. Some exchanges are canceling accounts due to inactivity or if they get notifications from their system for suspicious activity. I just hope you didn't keep any coins there, that also applies to all other centralized exchanges.
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Strongkored
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Fully Regulated Crypto Casino
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March 04, 2022, 07:21:22 AM |
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From Bittrex reply there is a possibility of you to get your funds back. It's annoying but there's nothing you can do but wait until this condition can be resolved, sorry you're experiencing the impact of the war that's going on.
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hugeblack
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March 04, 2022, 09:10:20 AM |
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Sorry to hear that.
It's irresponsible and unprofessional, but how did they know your location? Is it through the IP address? If so, why don't you say you were using VPN?
Also, it would have been better to give you 72 hours to close the account and withdraw your money, or your money will be frozen, but doing this suddenly and without giving a warning is something strange and unacceptable.
Try to contact the support team and post on Reddit this may forcing them will force them to allow you to withdraw your money.
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OmegaStarScream
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March 04, 2022, 09:26:44 AM |
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Sorry to hear that.
It's irresponsible and unprofessional, but how did they know your location? Is it through the IP address? If so, why don't you say you were using VPN?
Also, it would have been better to give you 72 hours to close the account and withdraw your money, or your money will be frozen, but doing this suddenly and without giving a warning is something strange and unacceptable.
Try to contact the support team and post on Reddit this may forcing them will force them to allow you to withdraw your money.
His account was already verified so saying that he was using a VPN wouldn't have helped. Also, giving warnings is not how bittrex functions, unfortunately. And we've seen that a couple of years ago when they decided to make KYC mandatory on everyone and not let the users withdraw their funds until they comply.
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khaled0111
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Top Crypto Casino
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March 04, 2022, 10:16:36 PM |
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From Bittrex reply there is a possibility of you to get your funds back. It's annoying but there's nothing you can do but wait until this condition can be resolved, sorry you're experiencing the impact of the war that's going on.
The funds will remain frozen in his account until the U.S sanctions against his country are lifted. I just hope it won't take too long. Locking customers accounts just like that and without prior warning sucks but it is what it is, sorry OP. Personally, I stopped using Bitrex since the day they started enforcing identity verification.
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Potato Chips
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March 04, 2022, 11:43:01 PM |
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For now, just make sure you get regular updates about your account's situation cause this could happen to you as well. Time frames such as 7 days are pretty easy neglect when life happens. OP: Bittrex have disabled my account saying that locale not supported, they kept hold of all of savings and told they are working on a solution as my holdings in USD , I'm following with them for 5 months now and they seem playing a game and they will not give my money back
Competitive-Map-704: i waited about 1.5 years. and after got message like - you got 7 days to withdraw all your belongings and we'll close your account.
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tippytoes
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March 04, 2022, 11:54:14 PM |
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From Bittrex reply there is a possibility of you to get your funds back. It's annoying but there's nothing you can do but wait until this condition can be resolved, sorry you're experiencing the impact of the war that's going on.
The funds will remain frozen in his account until the U.S sanctions against his country are lifted. I just hope it won't take too long. Locking customers accounts just like that and without prior warning sucks but it is what it is, sorry OP. Personally, I stopped using Bitrex since the day they started enforcing identity verification. This is true. I once was using bittrex before as they have coins that are being traded that you couldn't find in other exchanges. But when they started to ask their compulsory KYC, I also stopped using this exchange. That was way before when Binance started to ask KYC. I believe, bittrex is one of the first crypto-exchanges that require KYC from all their customers. And not giving any warning or notification, that's really bad. They should have at least send an email about their new policy and if you are not amenable with their new regulations, you can withdraw your holdings.
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Darker45
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March 05, 2022, 01:36:30 AM |
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Bittrex couldn't be more unclear on this. Which sanction in particular? Is there a particular US sanction which orders crypto exchanges to freeze the crypto assets of Russian users? I don't think there is.
While there have been repeated calls from Ukraine for cryptocurrency exchanges to freeze crypto assets belonging to Russian users, I guess the ultimate decision is left to the exchange. US-based Kraken, for example, didn't heed the call.
So I don't think Bittrex is simply complying to an official government order. This is Bittrex's sole decision.
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Darker45
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March 05, 2022, 03:08:08 AM |
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Bittrex couldn't be more unclear on this. Which sanction in particular? Is there a particular US sanction which orders crypto exchanges to freeze the crypto assets of Russian users? I don't think there is.
You can read all the coverage of OFAC sanctions here https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information, Yes they have a policy to do such things since they considering Russia as threat to there economy and since Bittrex is registered to US, they are force to follow OFAC order for sanction. This is the downside of being CEX that registered under a strict government rules. This is as clear (or unclear) as Bittrex's response. I don't think it is fair for Bittrex's blocked users to be just told that their accounts are locked in compliance to OFAC sanctions and if they have questions or confusions they may "read all the coverage of OFAC sanctions." It behooves Bittrex, or any centralized exchange for that matter, to specify and cite the particular section of the sanction that orders US crypto exchanges to block users from getting access to their funds. After all, US-based crypto exchanges such as Kraken, Coinbase, Gemini, and others are not imposing the same to their Russian clients. Please note that I am assuming that OP's Bittrex account is locked because he/she is located in either Russia or Belarus.
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uralcryptocoin (OP)
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SIGNATURE CREATION by uralcryptocoin
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Well my account issue was resolved
After 1 month waiting I didn't get any response to my 1st ticket and I created a new one. I got the same answer about U.S OFAC sanction etc. I wasn't be lazy and checked myself at OFAC site. Of course I found NOTHING and re-open the ticket again. After several comments the ticket seems was escalated to the 3rd line of technical support and I got more adequatelly comment. At the same time I wrote at Bittrex telegram chat with the ask of resolving my issue.
So after two weeks of messsaging my account was re-activated. All funds are at their own place. Withdrawal works.
It looks like OFAC, US and other politic things had no relationship to the issue. It's just technical ! Just a lack of technical employee at Bittrex.
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BTC Bitcoin: A Peer-to-Peer Electronic Cash System BTC A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
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