Suggestion: update resolved cases of frozen accounts or blocked withdrawals
This sub as well as the non-official one are filled with complaints from people who got their accounts frozen or who can’t withdraw. Then you will see in the comment either Domen or Lucas saying “DM me”, and then… nothing. So the other people never know, was this even resolved? And if yes, who was at fault? Do I risk to also have my account frozen?
As a Bitstamp client, I’m honestly getting pretty worried, even though I myself never had any issue with Bitstamp other than the fact that the supports takes at least 3 weeks to answer to simple questions (as opposed to Kraken where the support answered the exact same question in less than 10 minutes). But I never had any issue withdrawing for instance, and my account was never frozen. But at the same time, I never withdrew anything since 2019, so I’m worried that if I try to withdraw in 2024 I will not be able to.
So it would be nice if maybe the mods could update these posts to say what was the problem. I suspect 99% of these posts, the user got blocked because they tried to do something shady and then they come here to complain that they got caught. Or, maybe they can’t withdraw because they’re stupid and they forgot to cancel orders so their available balance is 0. So it would be nice in this case if the mods could just write: “case resolved, the account was frozen because the user failed to complete the KYC”. “Case resolved, the user couldn’t withdraw cause they had opened orders”. “Case resolved, the user couldn’t withdraw because he was trying to withdraw to a bank account that didn’t belong to them”.
You are pretty naive. “99% of these posts” …. My issue has been outstanding for months and they tried to use the same “DM me” to shut me up. Their support is a joke. My SMS authentication doesn’t work, email verification doesn’t work, it’s with Bitstamp support after 5 months to provide a verification method that works. All support say they are doing their best and it’s with their “technical” team that you never get to talk to.
You are wrong about 99%. Bitstamp started to tight procedures long time ago since they are EU based. You dont have to do anything shady to get a lock. But they will ask you to provide crazy volume of proof. Imagine that i was asked a proof of funda from 2015 when crypto wasnt even a thing. Transaction id’s etc. I was also asked for my salafy slips and tax payments. They will request a bunch of documents from you without a legal basis, or documents that dont even exist in nature.
Hi there, while we can’t provide any specifics regarding other users’ cases (really hope you can understand that), we can explain why our procedures are in place.
We are **required** by our internal policies to establish the nature of our users relationship with Bitstamp and source of funds, both fiat and crypto (KYC and other security procedures). Such procedures are a manifestation of Bitstamp’s proactive approach towards compliance and transparency, which allow us to ensure a safe and stable trading environment to our users. More info regarding our procedures are available here: [https://www.bitstamp.net/legal/aml-policy/](https://www.bitstamp.net/legal/aml-policy/)
In addition, if you read our terms of use carefully (check the section Maintaining Your Account) you will find more info on account termination and possible causes for such measures. And I would like to point out that we never terminate an account unless a user fails to comply with our Terms of Use (which you accept when you create your account with us).
As for the time it takes to resolve certain cases, our team is doing their best to resolve all of them as soon as they can and provide updates. However, sometimes it takes longer for a case to be resolved as it involves more than one department.
You do make a good point about marking these cases as resolved or not, we’ll make sure that we stay on top of it in the future 🙂
I’ve been following this thread and the concerns raised by many here echo my current predicament with Bitstamp. On February 2, I completed what would be my last transaction before finding my account inexplicably frozen. Since then, Bitstamp has effectively held $5000 of my funds “hostage”. Despite completing a verification process via Teams on February 7, there has been minimal communication and no resolution. The only response I’ve received is a generic reassurance that they’re “working on it”, specifically from Lucas on Reddit, which has not translated into any action or access to MY money. It’s been 20 days now, and during this time, I’ve been unable to perform any withdrawals or receive a refund to my original payment method through PayPal, despite my repeated requests and the substantial transaction fees I’ve incurred over time. My ticket number is TICKET #BIT-1850461. All I’m asking for is a straightforward resolution: a refund to my PayPal account or the ability to withdraw my funds. The lack of transparency and action on Bitstamp’s part is not only frustrating but also alarming, considering the amount of trust and financial resources we, as users, place in their platform. I’ll update here whether I get a resolution or not. It’s important for everyone to see how these issues are handled. u/Bitstamp-Lucas u/Bitstamp-Domen
MY CASE WAS RESOLVED
Updating for the benefit of those with account locked issues. My account got unfrozen after completing their requests for KYC after about 3months, Bitstamp doesn’t steal money or whatever rumours I keep hearing on reddit here, it just they freeze it randomly without warning and ask for extensive documentation on your funds, add on to that extremely slow customer support to get it sorted out.