As China Communist Party forces all crypto exchanges to shut its door to Bitcoiners in China, Bitstamp, one of the most renowned exchange in the world, takes extremely harsh measures against Chinese Bitcoiners.

Okcoin refuses to halt Chinese users’ account, huobi and Binance promise to keep their account for several years, let alone Kraken and some others not controlled by Chinese. Yet Bitstamp became the 1st one and the only one that closed Chinese Bitcoiners’ account last month.

If we looked at the bright side, Bitstamp left some leeway:

\> **If your existing** **Bitstamp** **account contains funds and/or has open trading positions:** You will have until 30th November 2021 to close your positions and withdraw your funds from Bitstamp. Accounts not closed before this date will have any open trading positions closed by Bitstamp. Attempts will also be made to contact you for a wallet address and/or bank details for the return funds from your closed account.

Ok, that might mean Chinese “may” keep their memorable accounts by not withdrawing funds, now that Bitstamp promised they will attempt to contact users for further actions.

Actually, Chinese users were no longer able to withdraw after Nov 30.

However, on Dec 19, Bitstamp suddenly sent email saying that

\> Please note that you should let us know which option you prefer and provide the required information before 22nd of December. If you do not contact us by that date, Bitstamp will start liquidating any crypto assets you hold on the account and convert them into fiat currency by the market price, where applicable fees will apply.

Hence, I’d like to say that it’s Christmas week. Many people cannot check emails every day. No other exchanges ever give so short time to users.

I personally have been using Bitstamp for nearly 9 years. I have never expected Bitstamp to behave so harsh against its users.

Please be kind to Chinese users, as well as non-Chinese users.

I know you hate China Communist Party. Please don’t hate those Chinese people who hold Bitcoin.

Thank you.


3 Comments

  1. YMIR_THE_FROSTY on 2. April 2022 at 11:59

    Fairly sure this has less to do with Bitstamp hating Chinese, more to do with Bitstamp trying to be clean as fresh snow.

    Bitstamp is for some reason super strict exchange for literally everyone. That reason probably is them having “friendly” visit from some non-friendly financial institutions couple years back, since then they do everything by the law.

     


  2. keeking on 2. April 2022 at 11:59

    I started contacting them from 8th Dec, I tried reach them via ticket, support email and telephone customer service, none of them helps but three ticket number. I contacted the offical channel on reddit and twitter, they told me they will check and process it ASAP, but it’s been 21 days and I still waiting for my withdrawal…

     


  3. CarInternational8164 on 2. April 2022 at 11:59

    Agreed! Two weeks have past. And I still haven’t gotten back my funds. The support team only reply with clich├ęs, or not reply at all. Shame on Bitstamp!!!