*warning* Bitstamp not allowing withdrawals

[aribes29]

Since 8th of july (2023) I have not been able to withdraw my funds (USD, EUR or BTC) from Bitstamp.

Since then the answer from support is every time:

Hi Alberto,

thank you for reaching out.

Accept this as a confirmation that we have received your message. We will look into it and get back to you as soon as we learn more.

Best regards,
Damjan S.

Please someone had the same problem? I am afraid they are not going to let me withdraw my funds ever, after two months and a half I can not believe this is a technical issue, I am thinking they could be insolvent or had a hack. Any advice? Thanks

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[hosseinimr93]

Can you please be more specific on your issue? What do you exactly mean by Bitstamp not allowing withdrawals?
Do you get any errors when requesting a withdrawal? If so, what's the error message displayed? Or do you mean you don't see your balance at all when you want to make a withdrawal?

[aribes29]

I can see my balance and is correct, I get the message "Insufficient funds" when I try to withdraw any amount, I was a developer and if that was a technical issue it could be solved in less than 24 houres, in a few days in the worst case scenario. After almost three months it smells really bad.

[OmegaStarScream]

The message you posted looks like an automated answer, doesn't it? Where does it say it's a technical issue though? And have you tried submitting other tickets since that message?

This is sadly a common issue with exchanges sometimes. There isn't much you can do, the support team is the only one who can help you and I doubt it's a technical issue, it's probably something to do with your account (suspicious activity, more KYC to do, etc.)

[stompix]

I am thinking they could be insolvent or had a hack.

So you think they have been insolvent and they are blocking withdrawals for almost 3 months yet you're the first one in months one around here with the problem in the last month? I did one exchange just before leaving for a trip so that would be something around the middle of August (can't check it right now for sure) and it funds were in under 24 hours.

Most likely it's about your documents and your KYC, from my experience Bitstamp is probably the worst when doing this, I was just lucky to be an already old customer with them when they started but for newer clients going through this might be a nightmare, check your previous mail they might have asked you already for a ton of documents, most like proof of funds as that is their specialty.

[aribes29]

In Reddit I found a few more people having similar problems for two months now, and I am not new in Bitstamp, I have been using it since 2018. I also asked them if it could be a problem with the ID, or probe of address, and they told me that the documents and ID are good, so this is not a KYC problem.

Maybe they didn't block withdrawals for everybody but it looks like I am not the only one having problems there, and the most worrying is that there is no explanation after so long.

[OmegaStarScream]

Have you tried reaching out to them over the phone? I can see they have EU, U.S, and UK/Global numbers on their contact page. It might be better to discuss with them that way, rather than sending an email and waiting for a response.

[rat03gopoh]

(USD, EUR or BTC)

Does it also not work using other coins?
I see your complaint on reddit has been responded to by support for resolution via PM, you shouldn't miss that opportunity.
I hope you continue to update your situation here, I'm curious about their explanation.

[yhiaali3]

I have not heard that Bitstamp is down or hacked, if the problem is not technical and they also told you as you mentioned that (the documents and ID cards are good, so this is not a KYC problem), there is still a slight possibility that you have an open orders, I found the same problem as you on the questions page:

                               
https://www.bitstamp.net/faq/i-have-enough-funds-on-account-why-cant-i-withdraw/

You may have open orders (sometimes I place orders and forget about them for a long time) and they have not been executed yet. In this case, the balance appears on the withdrawal page, but it is reserved. You cannot withdraw it until the order is executed or cancelled.
Try this possibility and make sure you have no open orders.

[dkbit98]

Please someone had the same problem? I am afraid they are not going to let me withdraw my funds ever, after two months and a half I can not believe this is a technical issue, I am thinking they could be insolvent or had a hack. Any advice? Thanks

I didn't hear that anything unusual was happening with Bitstamp, and their social madia pages are not very active, but I would certainly try contacting their customer support in different email addresses and/or phone numbers:

info@bitstamp.net
press@bitstamp.net
affiliates@bitstamp.net
support@bitstamp.net
complaints@bitstamp.net
+44 20 3868 9628
+1 800 712 5702
+352 20 88 10 96

https://www.bitstamp.net/

PS
I hope you learned your lesson... never keep your coins in any centralized exchanges.
Not your keys, not your coins.

[JeromeTash]

You may have open orders (sometimes I place orders and forget about them for a long time) and they have not been executed yet. In this case, the balance appears on the withdrawal page, but it is reserved. You cannot withdraw it until the order is executed or cancelled.
Try this possibility and make sure you have no open orders.

A terrible feature. At least in a couple of exchanges I have used. The overview of the balance can be seen on the withdrawal page, along with the balance that is still locked up in open orders.
Sometimes I just wonder why some very old exchanges are so slow with implementing new changes and features. I am glad I have never used them.

[BitMaxz]

I almost heard FUDs this month another bad news for another exchange I hope this won't end up the same as other exchanges like Coinex.

I tried to check for any news but it seems you're the only one who experienced this issue.
Better wait for the support response they might have a better explanation for why you can't withdraw.

Next time don't keep your coins too long in any exchange always hold your coins in a non-custodial wallet or any wallet that you fully control.

[Ultegra134]

I believe that your title is a little misleading. I don't exactly understand what issue you're facing. In order to be assisted by other members, it's best to be a little more descriptive and, if possible, provide screenshots, transcripts, or anything else you have to prove your point. From what I'm understanding, you have sufficient balance in your account, but you're unable to withdraw due to a technical error showing you don't have any balance. Am I right? I'm a little skeptical because it sounds way too odd and something that I've never heard before.

I've used Bitstamp in the past, for quite a few years too, and have even left a decent sum of money deposited and abandoned for over two years. I never faced any issues, and I'd still use it if it weren't for the excessive trading fees.

[Potato Chips]

In Reddit I found a few more people having similar problems for two months now, and I am not new in Bitstamp, I have been using it since 2018. I also asked them if it could be a problem with the ID, or probe of address, and they told me that the documents and ID are good, so this is not a KYC problem.

Maybe they didn't block withdrawals for everybody but it looks like I am not the only one having problems there, and the most worrying is that there is no explanation after so long.

Custodial exchanges can be triggered happy with their KYC/AML policies hence a few more people are bound to get hassled. This is why even with established exchanges, it can still be risky. Also, if they haven't finished looking into you case, there's a good chance it's an open ended answer.

I would suggest following up your case on their social media as well. For instance: https://twitter.com/Bitstamp/ -- check bio. Be aware that there are loads of scammers pretending to be bitstamp so always triple check.

[Darker45]

Two months is too long already for them to have you wait hanging. This is totally unfair! What are they into, a fishing expedition? To freeze withdrawals is to have found something suspicious. They should have at least told you what that is.

We can only speculate here. If they aren't asking for additional KYC information of proof of source of funds, then they aren't probing the user behind the account nor your financial capacity. If you don't have any open orders either, then it must be something else. Are you using a new withdrawal address? If you are, have you tried withdrawing funds to an address that you have been using for years? Or have you made a deposit from suspicious sites like an unlicensed gambling platform?

In any case, you should be submitting another ticket. You may also inquire about your pending concern in all their official channels.