More Bitfinex Customers Report Problems: Banking Issues Afoot?

More Bitfinex Customers Report Problems: Banking Issues Afoot?

Controversy continues to swirl around the fourth-largest cryptocurrency exchange by volume in the world. As previously reported by Bitsonline, we have received reports from anonymous Bitfinex customers that their deposits have not been going through, sometimes involving large sums of money upwards of $100,000 USD. It appears now that the problem may be more extensive and that some customers are also not receiving withdrawals.

Also see: Ian Balina Charges ‘Lizard Squad’ Over His Token Clean-Out

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Woes Growing?

On Bitfinex’s most recent weekly Reddit ticket-escalation thread, more potential problems were brought forth by customers. One user claimed to have been waiting over 180 days for a withdrawal of an unspecified amount to process. Another claimed to have been waiting two weeks on a $767,000 withdrawal that has still not been received. And yet another user reported they have been waiting over a week for over 500,000 USDT to be credited to their account.

One customer who contacted Bitsonline claims they attempted to wire a $60,000 deposit into their Bitfinex account on June 5th. A Bitfinex representative did go on record saying Bitfinex’s banking relations have changed recently, though specifics were not detailed. The at-hand user’s account appears to be fully verified on the exchange. Their deposit did show up as “pending” on their Bitfinex portal but the funds have still not been credited, they say. The following are screenshots provided to us by the user:

Deposit marked as pending by Bitfinex.

Below, you can see the user’s account “has been verified.”

Proof of customer verification.

The user in question also provided us with the details of their wire transfer:

Details of the transfer.
Further transfer details.

Due to a lack of progress in their case, the same user said they have filed a report with the Hong Kong police, where Bitfinex’s parent company iFinex is based. We were told the user did not receive a physical or digital report but were instead provided with an e-mail confirmation of the report being filed:

Another customer who contacted us claims they attempted to withdraw £17,151 GBP from their Bitfinex account, though unsuccessfully on their end. Their portal appears to have indicated the withdrawal was completed on May 23rd, 2018. Screenshots provided by the user are below:

Confirmation of withdrawal.
Screenshot provided by Bitfinex of one of their partnering banks, saying the money has been transferred.

This customer provided us with extensive contact they had collected in engaging with Bitfinex support over the issue. These communications ranged from June 7th to June 26th. Some of these emails can be found here.

They contacted Crypto Capital Corp. (CCC) of their own volition, as Bitfinex support told him that CCC was the company handling their particular wire transfer. These communications ranged from June 19th through June 28th. These emails can be found here.

A quick Google search revealed complaints about Crypto Capital Corp. have trickled in over the past few years. As previously reported by Bitsonline, CCC also works with Coinapult, “which received seed funding from big names in the crypto space, including Roger Ver, Barry Silbert and Erik Voorhees.”

This customer has also inquired on Reddit with Bitfinex support multiple times to try bringing further attention to their dilemma:

In the Eye of the Storm

This is not uncharted territory for Bitfinex. Complaints surfaced late last year regarding withdrawals not processing, which captured headlines at the time. Many of these claims likewise originated on the Bitfinex subreddit.

Bitfinex has had its share of banking controversy in their recent memory. The exchange revealed an opening of a new Polish bank account in November 2017. The bank was reportedly raided by officials this April, with over $370 million USD being seized.

Bitfinex was also subpoenaed by the Commodity Futures Trading Commission (CFTC) in December 2017. Last month, a Freedom of Information Act (FOIA) request to the agency was denied, with the CTFC saying “disclosure of that material could reasonably be expected to interfere with the conduct of the Commission’s law enforcement activities.”

Whether it’s just continued growing pains or worse yet, Bitsonline will keep you posted on this story as it continues to develop. If you have had problems of your own, please contact us and share your story.

What’s your take? What do you think these banking woes boil down to? Sound off in the comments below. 


Images via Bitfinex, Enterprise Bank & Trust, Pixabay

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