Free Cryptocurrencies


Monday, October 23, 2017

What's wrong with bittrex?

What Happends with Bittrex?

Lately Bittrex which is one of the major exchange exchanges does a mass BAN against its customers. Not yet clear what makes Bittrex do that. This week Bittrex started to open his mouth with a statement:

"We occasionally conduct compliance reviews and strive to protect our services and our users from harm. As part of compliance review, we temporarily suspend certain accounts pending the completion of the review. The total number of suspended, closed or restricted accounts is very limited: less than 0.1% of Bittrex's total accounts. Over 99.9% of Bittrex accounts are unaffected. "

Bittrex is a large US based cryptocurrency exchange platform, where all companies and platforms are required and must adhere to current rules and they are essential for exchange. After all, the US is a haven of rules and laws, both at the state and federal levels.

But there's an awkwardness here, Bittrex never tells customers what their BAN accounts are, what the hell are they doing and why are they doing that?

This is one customer complaint that has a fairly large balance, the complaint he sent to Cointelegraph which is a large medium of cryptocurrency via email:

"Please help me ... I have about six Bitcoin in my account ... I lost my money: / Please tell Bittrex to activate my account for just 10 minutes so I can withdraw my money ... please."

Another user also posted a comment in Cointelegraph article yesterday, he complained about how Bittrex handled communications:

"No matter what the reason: they do not respond to clients, no explanation, not even a single twitter post."

Even Bittrex did not reply to Cointelegraph's request to comment on the incident.

There are some BITTREX Comments that are out

"Any report that Bittrex miscalculated or misinterpreted the exchange fee, that there was a security issue with the exchange, that Bittrex lost the coins stored on behalf of the user, or that Bittrex forbade anyone who tried to access Slack to discuss their account status. That is not true. We are committed to making Bittrex a powerful, secure, and appropriate exchange where people can participate safely in the digital currency economy. We ask for the patience of our valued customers. As for us, we plan to 'stay calm, and move on.'

Bittrex seems to stay calm and continue running its operations, but what about the users affected by Bittrex's current move? Currently, the exchange does not respond to a ticket or anything. Not surprisingly, as a large number of Bitcoin and altcoin exchange exchanges have also experienced this with the burgeoning volume of user support tickets, including Poloniex and Coinbase.

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