Bittrex is now asking "select users" for source of funds verification information?
Did anyone else get something like this?
I recently got an email from Bittrex asking me to verify my source of funds otherwise they are going to close my account in 7 days.
It looked like this:
I took a look at the source of funds documents that they want me to fill out and they are pretty ridiculous...
I am assuming if I want to continue using the Bittrex Exchange I don't really have any other option but to comply with what they are asking?
I've had an account verified with them for 4 years and now they are asking for this... ugh.
Anyone else going through this?
Stay informed my friends.
-Doc
Posted Using LeoFinance
A sign of things to come for sure. Youtube banning people left right and centre, exchanges requiring insane levels of financial information etc. There is a big opportunity for DEX and decentralised Social media though as the crackdown gets worse and worse. Enjoy the good times now because they defo wont last.
Yea I mean the natural order of things seems like it will probably go like this...
I didn’t receive that e-mail but I guess it will come soon or later. It is really weird why they are now requesting this
Fun stuff.
WTF!
can you post the link to the source of funds PDF?
What do they want to know exactly.
7 days notice? Are they batshit crazy now?
Do you live in America? Maybe that's why...
Luckily I did not receive such an E-mail... Are you sure it is not an attempt to scam people?
Yea I did some digging and it looks like it is from Bittrex.
https://bittrex.zendesk.com/hc/en-us/article_attachments/360044122611/Source_of_Funds_Bittrex.pdf
Yes, 7 days notice is all they gave and I didn't even see it until today. So more like 4 days notice for me... unbelievable.
According to Reddit your account is frozen and you'll have to provide the info if you even want to cash out. That is some bloodsucker bullshit right there. What a gross invasion of privacy for something that is none of their business. What stops you from lying and saying you're a custodian of the funds for friends and family? Are they then going to tell you to get that same information from every person whose money you protect? Pretty BS.
Posted Using LeoFinance
Well considering I have been transferring crypto in and out still (including as recently as today), I'd say the "frozen part" is inaccurate.
That's good! But still... weak!
Yep, weak indeed. It usually takes forever for these people to get back to you when you do submit documents anyways.
It's probably not Bittrex's fault. They have regulators breathing down their neck with demands that they put AML/KYC regulations to practice to the regulator's satisfaction.
Yep, I agree that it is probably most likely due to this... ^^^
WTF!
THIS IS THE CRAZIEST SHIT EVER... getting funds out ASAP. FUCKERS
My account isn't currently frozen.
Did you get your funds out without submitting this form? I just got everything out... Never touching bittrex again.
Yes, it was no issue transferring anything out currently. It just looks like I won't be able to use the account any longer 4 days from now unless I comply.
Good, unless you catch this Email too late... 7 days is ridiculous.
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Do not miss the last post from @hivebuzz:
Over the past few days, exchanges have been freezing accounts of large traders under various pretexts - there are calls on YouTube to withdraw their funds from centralized exchanges. History will repeat itself and at the most crucial moment you will not be able to sell or buy. Warning: Withdraw funds from centralized exchanges!
Posted Using LeoFinance
Do you have some links?
Yes - this is a Russian-speaking trader
Posted Using LeoFinance
Important! On August 28, BitMEX introduces KYC identification procedure, which obliges users to upload documents.
Posted Using LeoFinance
That will be interesting...
Bittrex KYC is crazy. I'd rather miss out on some trade and arbitrage opportunities than complying with their bullshit
Yea, the thing is that I've complied with everything they've asked for for years related to KYC information. Now this is well above and beyond simply KYC, this is asking for source of income verification. Unfortunately I feel like if I don't do it I will lose the best exchange available to me for HIVE liquidity here in the US... know of any decent options?
Hmm, I'm not from the US, so I have no idea, sorry
HotBit https://www.hotbit.io/
Ummm... An American whom I know uses them and has no problems withdrawing crypto.
They have HIVE/USDT and HIVE/BTC. USDT does about 6K/day volume.
They do not "allow" americans, but don't ask either...
All of that is subject to change of course :-)
Posted Using LeoFinance
I will keep that in mind should the time come, thanks for the tip!
Not surprising for Bittrex. They used to be the most open and accessible, but the Monetary Mafia in the US insists on extreme levels of KYC.
It's pretty ridiculous considering I had been verified there for 4 plus years with no issues.
what a bad notice, tonight I connect and then I'll let you know if I find the same message... thanks for sharing
I haven't seen many others getting a similar request...
In fact, yesterday I did not receive this report from the exchange when I logged in
I think they are starting to implement the same Elite Bitcoin Club as it is with Gold.
https://www.coindesk.com/bitcoin-gold-staying-clean
Lovely...