Urgent Concern Regarding Bitstamp Account Suspensions and Fund Accessibility
Dear Bitstamp Community,
I hope this message finds you well. I am writing to express my deep concern regarding the recent account suspensions experienced by some of our fellow traders on the Bitstamp platform. It has come to our attention that several users have had their accounts disabled for trading, and worse yet, they are unable to access their funds. For example I have been unable to withdraw my funds from the beginning of December (3 months). Despite my best efforts, there appears to be no apparent reason for this suspension.
As a community, we believe in transparency, accountability, and fair treatment. It is essential that we address this issue collectively and seek a resolution that benefits all affected parties. Here are the key points we need to discuss:
1. **Account Suspensions**: Many users have reported sudden account suspensions without clear explanations. If you are one of those affected, please share your experience in the comments below. Let’s compile a list of affected users and understand the scope of this issue.
2. **Funds Accessibility**: The inability to access funds is distressing for any trader. If you are currently unable to withdraw your funds, please let us know how long you’ve been waiting. We need to assess the severity and duration of these restrictions.
3. **Legal Action**: While we hope for a swift resolution from Bitstamp, we must also consider legal avenues. Should we collectively pursue a lawsuit against Bitstamp? If you have legal expertise or insights, please share them with the community.
4. **Alternative Solutions**: Are there other ways to address this issue? Perhaps we can escalate our concerns through official channels, engage with regulatory bodies, or seek mediation. Your input matters.
**How You Can Contribute**:
* Comment below if your account has been suspended or if you are facing withdrawal difficulties.
* Share any relevant information, such as the duration of your account suspension.
* If you have legal knowledge or suggestions, please provide insights.
* Let’s support each other during this challenging time.
Remember, we are stronger together. By raising our voices collectively, we can advocate for fair treatment and ensure that everyone’s funds are safeguarded. Let’s stand united and seek a resolution that upholds the principles of trust and transparency.
Thank you for being part of this community, and let’s work towards a positive outcome.
They suspend accounts for years. Best case is just abandon this exchange for good. Its 2024 , bitstamp is useless now
Bitstamp resolved my issue, albeit not in the manner I had anticipated. Initially, they restricted access to my funds, but ultimately decided to refund everything in fiat currency. While I appreciate their effort to return my money, it wasn’t the outcome I desired. They liquidated my Bitcoin and Ethereum holdings at the prevailing market rates and transferred the proceeds to me in Euros.
This resolution has left me grappling with tax implications. Moreover, my original intent for registering with Bitstamp was to purchase cryptocurrency and transfer it to my Trezor wallet. Now, I’m left with Euros, and my plan has been thwarted.
While I’m relieved to have my funds returned, the experience has been stressful, spanning nearly half a year. Given these circumstances, I find it difficult to recommend Bitstamp to others.
We havnt been able to withdraw too. We were thinking of reporting our case to the financial ombudsman in the UK ? Let me know what you think. It’s a lot of money and not being able to withdraw crypto or cash back into your bank is a severe violation.
Hi there, please send me more info via chat or PM.
I am based in the US and my account has been “frozen” since July ‘23. I do have an open case with them that is not making much progress
I was a customer since 2017. About a year ago, my account was suspended and I could not transact nor withdraw my crypto. They required years of records of where my incoming crypto was coming from. I provided Coinbase records and they still refused to open it back up. I threatened legal action and they finally allowed me to withdraw my funds and close my account. I did not conduct large transactions but had enough $$ to be a headache. Never had more than $3000 in the exchange and had the same bank account attached for the duration.
I had a big issue with the exchange, they need all of your information and records ( which is fine ) but the suspension of trading and withdrawals is almost criminal depending on the market conditions you can loose out big time by not being able to buy/sell
Have been with Bitstamp since 2017 with no issues. My account is suddenly frozen and unable to deposit or withdraw since December 2023.
Bitstamp blocked me from trading and withdrawing. Refuse to verify my account for months regardless of the evidence I provided. Bitstamp’s support didn’t read my messages properly and keep asking the same questions over and over again. Yesterday they terminated my account. I can’t log in. I don’t know whats gonna happen to my fund and crypto. They didn’t give details on how much it would cost to transfer the money back to me and how would they handle my crypto. I can’t trust them to return my money and crypto in a proper and timely manner. I really don’t know what to do. I have emailed them multiple times, still no responses.
I just invested few hundreds, didnt trade after, didnt even open app for a year and one day wanted to withdraw some amount and they blocked withdraw becouse they wanted new document. After I send document one week no one answered. Then I sent complain and asked whats wrong and they wrote back that my case is now their highest priority. After that another week nothing. Still can’t withdraw..
So it is two weeks already since it say “disabled – under review”, maybe they are just slow but I think they should be quicker.
I’m experiencing similar issues with Bitstamp. My account was unexpectedly frozen after my last transaction on February 2, with $5000 of my funds inaccessible. Despite completing verification on February 7, communication has been minimal, and my account remains blocked. It’s been over 20 days without access to MY money. This lack of action and transparency is concerning. My ticket number is TICKET #BIT-1850461. I’m interested in any collective action or legal avenues we might pursue as a community. Count me in for any discussions on solutions or next steps.
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 documentation on your funds, add on to that extremely slow customer support to get it sorted out.