After the Cointelegraph coverage yesterday, Bittrex finally made a public statement about thousands of accounts they had disabled. According to the Bittrex site:
"We occasionally conduct compliance reviews and strive to protect our services and our users from harm.As part of our compliance review, we temporarily suspend certain accounts pending the completion of the review.The total number of suspended, closed or restricted accounts is limited: less from 0.1% of total accounts on Bittrex More than 99.9% of Bittrex accounts are unaffected. "
Of course, everyone realizes that most Bittrex accounts work well. The problem is that thousands of accounts - 0.1 percent - are (and still are) disabled.
Real money is at stake
Bittrex is based in the US, so it's understandable that compliance is important for exchange. However, the US is a patchwork of different laws and regulations, both at the state and federal levels.
The weird thing, however, is that Bittrex never bothered telling customers whose accounts they do not like about what they do and why. Some users who have sent emails to Cointelegraph claim to have a rather large amount stored in Bittrex. One user appealed to us:
"Please help me ... I have about six Bitcoin in my account ... I lost my money: / Please tell Bittrex to activate my account for only 10 minutes so we can withdraw our money ... please."
A simple email from Bittrex, both before and immediately after the "suspended temporary" account, may be far away to convince users that they will eventually receive access to their funds.
Bad communication
Other users, posted in our early article comments yesterday, complain about how Bittrex handles communications:
"No matter what the reason: no response to the client, no explanation, not even a single twitter post, that's enough to spend money from Bittrex."
He's right that, before the Cointelegraph article yesterday, there was absolutely no public communication at all from the exchange. Likewise, many of the emails we receive from Bittrex users complain about tickets that have been days without being answered, so they also never communicate privately with their users.
Bittrex never replied to our request to comment.
Another comment
Bittrex also writes:
"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. to make Bittrex a strong, secure, and appropriate exchange where people can safely participate in the digital currency economy We ask for the patience of our valued customers We plan to remain calm and continue. "
Someone is not telling the truth; Bittrex claims that they have never forbidden anyone from Slack who tried to ask for their account, but we have received a number of emails claiming that the exchange has been done correctly.
Carrying on
Bittrex seems to stay calm and keep going, but what about users affected by their move? Currently, the exchange either does not respond to tickets or lags far behind. The latter will not come as a surprise, as a number of Bitcoin and altcoin exchanges have been hit with a higher volume of user support tickets, including Poloniex and Coinbase.
Customers wonder if, and when they will have access to their funds. We have asked this question to Bittrex, and if we receive a response, will follow up with our readers.
READ SOURCE : COIN TELEGRAPH