Traders at top bitcoin exchange claim they have no access to their money

Wednesday, December 6, 2017
By Paul Martin

RT.com
6 Dec, 2017

Another question about the safety of cryptocurrency transactions was raised this Wednesday. Clients of a major Las Vegas bitcoin exchange Bittrex say they can’t withdraw their money and the company doesn’t explain why.

The clients of Bittrex, which processes about $1 billion of cryptocurrency payments per day, are angry about the delays, Business Insider reports.

They claim to have verification problems but get close to no feedback from Bittrex about the situation.

The company admitted to “significant delays” in handling the issues, but said they affected only “a small percentage of our overall user base.”

New identification procedures are being implemented to comply with the US anti-fraud banking regulations.

One of Bittrex users, who asked the media to call him only by his middle name, commented on the problem.

“Bittrex has two levels of verification. Basic Verification, which I completed, but it said it could not find any public record to match what I entered. Then [it] gives you the option to submit what they call Enhanced Verification where you have to submit Gov ID, Passport, Selfie, etc. I, in turn, did this, but that one also failed, saying ‘Name Mismatch Error.’ To top it off, they do not provide any settings page to correctly make the name change if [there] truly is a name mismatch,” he said.

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