Bittrex users experience withdrawal issues for months

One of the largest crypto exchanges, Bittrex, has not been able to let users withdraw money for several months already, and the users are complaining about deposits issues too
27 December 2017   1245

The users of a major cryptocurrency exchange are continiously complaining about issues connected with maintaining financial operations on Bittrex. Mainly, the concerns are related to the long-lasting withdrawals, which users have to wait for to be conducted for long periods of time, and a huge part of the users does not have their money withdrawal confirmed for months.

Moreover, the users of the exchange are experiencing issues with transactions carried out between Bittrex and other exchanges, facing the problem of the transactions not being displayed in the Bittrex account and lack of replies from Bittrex Support service.

Reddit.com users comments towards Bittrex exchange issuesReddit.com user's comments towards Bittrex exchange issues 

The problems might be connected with the decision of the exchange to turn off new users registration which was made on December 14 for a DB upgrade due to a large spike in new user sign ups.

Although on November 29, Bittrex founder Rami Kawach claimed that the company had conducted an upgrade on the back-end system of Bittrex in order to address the rapid user growth and request load on the trading platform and it has been a month since the upgrade was implemented, the users are still experiencing too many problems with the exchange.

It is also worth noting that Bittrex reported about the new scam and phishing emails asking the users to provide API keys and secret codes. These emails mention Coinigy, but Coinigy company and Bittrex exchange warn the users that they are not any how related to those emails.

Bittrex exchange active marketsBittrex Exchange active markets

Apart from that, we have reported that the users of Binance were facing issues with withdrawals of IOTA, and most of them had not been able to withdraw the money for several weeks after sending the request.

Gemini & Partners to Launch Virtual Commodity Association

Association is created to develop standards for the industry, promote transparency in the market and cooperate with regulators, including the CFTC
20 August 2018   315

Several major exchanges decided to create a new structure designed to eradicate manipulation in the digital assets market, Bloomberg reports.

The Virtual Commodity Association was formed by the founders of the exchange Gemini Cameron and Tyler Winklewoss. According to a statement released on Monday, the group also included Bitstamp, BitFlyer USA and Bittrex. Representatives of four trading platforms will meet in September to consolidate the provisions for the future functioning of the organization.

The Virtual Goods Association will develop standards for the industry, promote transparency in the market and cooperate with regulators, including the Commodity Futures Trading Commission of the United States (CFTC), in order to prevent manipulation of Bitcoin, Ethereum and other currencies.

As the temporary executive director of the organization, Maria Filipakis, who worked in the Financial Services Department of New York, was appointed, where she took part in the creation of a BitLicense.

Earlier, the Winklewoss brothers tried to launch their own ETF, tied to bitcoin, but the US Securities and Exchange Commission denied them twice, as the reasons for its decision, among other things, calling for the absence of adequate measures to prevent cryptocurrency market manipulations.