When it comes to choosing a cryptocurrency exchange – people usually tend to go for trusted names, especially when large sums of money are involved. Bittrex is one such name which has quite a credibility and is considered to be safe and secure. However – a shocking incident was recently reported on Reddit where a user claims that Bittrex has blocked access his withdrawals while he has over $100,000 in funds.
This Reddit user, who goes by the username MonkeyKingKill claims that back in November 2017, Bittrex changed his account’s status to ‘New Account’ and blocked his withdrawals. The user states that he tried to use Bittrex’s ‘automatic advanced verification procedure’ multiple times – but that does not seem to solve his issue.
After his withdrawal was blocked, the user tried contacting Bittrex multiple times by starting tickets on the customer support. However – Bittrex is yet to respond to any of them. Even mails which are being sent manually to the customer care are not being met with a response from their customer service team.
The user goes on to compare Bittrex’s handling of KYC issues with the way Poloniex does it, stating that Poloniex sent users mails in advance stating that there will soon be policy changes. The user claims that after submitting the KYC documents at Poloniex, all services were back to normal for him in just three days – unlike Bittrex where he hasn’t got any update in over three months.
This is rather strange behavior from Bittrex which is usually known for it’s slow customer service – but usually caters to all the customers needs. The user claims that he is not alone in this situation and there are other users who have suffered such incidents in the past. For a Bitcoin exchange as big and as popular as Bittrex – it is essential that the company helps a user who has such a massive amount involved with them. This lack of customer support could drive many high-value customers away from the exchange.