Recently, there have been complaints from Bittrex users that their accounts have been “deactivated for no reason”. According to the statements of these users, whose account was suspended for no reason, they are ignored when they contact Bittrex’s support team for information.
One of the users whose account was closed is worth over $30,000 in total in their Bittrex account. He says he has 6 Bitcoins and he can’t access his account anymore, and he hasn’t received a response from the support team.
Comments from users:
“More than 3 days, although no warnings or announcements have been made. My account has been closed for a while. The support team is also not responding to anything.”
“Despite all the reports we’ve sent to report this issue, the support team is ignoring us, as ugly and immoral as can be, rather than responding to the reports.”
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One of the users mentioned that this trouble may have something to do with countries:
“More than 3,000 accounts were closed in Iran for no reason.”
Other a Bittrex user’s comment affects us as well, which is quite sad:
“I spoke to a lot of people in Telegram groups and according to that, the most affected countries are Syria, India, Iran, Russia, Pakistan and Turkey.”
Users complaining about their account being suspended for no reason say their accounts are “verified” accounts. So the situation has nothing to do with KYC/AML (know-your-customer/anti-money laundering).
At least two topics have been opened on the
Bitcointalk forum. Here and here.
People whose accounts have been closed are always faced with the same image when they try to log in to their accounts:
Support No Sound
Bittrex still has nothing to say on the subject. did not comment. Bittrex.com/news is also empty. Bittrex’s Facebook page, on the other hand, does nothing but direct all users who have this problem to the support site and tell them to send a notification.
There is no explanation from Twitter either, and one of the users who shared about this issue is the answer they gave:
please contact https://t.co/d1UGFItWU
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— Bittrex (@BittrexExchange) October 10, 2017
Strange Events
Without an exchange making any announcements or responding to user notices It’s pretty unusual for thousands of people to freeze their accounts.. But there are other strange events connected with Bittrex as well.
A blogger named “The CryptoSyndicate” said last week that due to a problem inside Bittrex, there was a wholesale of alternative cryptocurrencies across the exchange and as a result. He mentioned that prices on other major exchanges have also dropped:
“To put it simply, every alternative cryptocurrency on Bittrex has fallen in concert with each other.. Not all cryptocurrencies, only those found on Bittrex. Between 11:00 and 08:00 CEST on October 8, 2017, a large number of alternative cryptocurrencies fell sharply with each other within minutes of each other.. Is it a coincidence?”
Blogger named The CryptoSyndicate thinks this issue may have been caused by a problem with Bittrex’s transaction fees. According to him, Bittrex accidentally reduced the transaction fee it received from the transactions made within its body, converting these fees to Bitcoin, thus allowing alternative cryptocurrencies to experience a decline.. In addition:
“This has not happened on any other exchange.. Cryptocurrencies NOT IN Bittrex were also unaffected.. Exchanges such as Binance, Kraken, Bitstamp, Coinbase, GDAX, Coss, Cryptopia, Yobit were affected by this issue with Bittrex.”
Anger and Anxiety
A few years ago Mt. Gox, it is understandable that people shudder at even the slightest problem in Bitcoin exchanges.. When you hold your money on an exchange, you do not have full control of your money, as the exchange is in control of your private key rather than you.. In the event of a problem, such as a hack attack or a database error, you risk losing everything.. Timely Mt. Gox users have learned the hard way what that means.
Mt. When the Gox exchange crashed in early 2014, users lost a total of around 850,000 Bitcoins.. Of these 850,000, 200,000 were later “found” and the total loss fell to 650,000 Bitcoins.. At today’s price, this amount is $3.5 billion.
While such a situation has occurred in the very recent history, on top of that, Bittrex survived a hack attack last year; The current situation is quite annoying.
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