Bitfinex: Crypto Exchange Customers Not Satisfied. Despite crypto exchange customers repeatedly complaining that the have faced issues with Bitfinex exchange services when wanting to process withdrawals, the company insists its withdrawal services are fine.

Last week Bitfinex suspended fiat currency deposit services into customer accounts because of ‘processing complications’. Bitfinex stated that this was solely a temporary issue and that its normal procedure would resume soon. Users faced problems when depositing U.S dollars, British pounds, Euros and/or Japanese Yen.

According to the exchange, this happened only for “certain customer accounts” and user groups, not across the board to impact all users. The fact remains however, that because of this many customers faced problems when withdrawing their funds; an exact number of customer complaints is not available. As per Bitfinex’ customers, the same occurrence happened a few months ago also. Many withdrawals remain pending with customers anxiously waiting for them to fulfill as soon as possible. @DongoFabrizio, @crypto_bull_in, @botcrypt, @bbc_trading, @ElCuartoAmigo and @rarelylose are just some of the users who reported delays. Many users shared about this delay as well as the previous one with the Bitfinex exchange on Twitter and Reddit.

Kasper Rasmussen, Bitfinex communication director, defended the exchange’s work on reinitiating the fiat withdrawals.

Fiat withdrawals are currently processing, both old and new, but the backlog which is being worked through means that a few users, unfortunately, continue to experience these delays for a little while longer. Unfortunately, I am unable to provide a clearer estimate as to when you will receive your withdrawal, but I can assure you that fiat withdrawals are processing and that your specific transaction is being monitored closely.”

-Kasper Rasmussen

Bitfinex: Crypto Exchange Customers Not Satisfied. Bitfinex stated that all cryptocurrency and fiat withdrawals are processing as usual without any interference. In another statement, Rasmussen stated, “Fiat withdrawals are still processing and have not experienced any downtime, however … We continue to experience minor delays in the processing of fiat transactions for certain individuals, but this remains the minority of cases.”

As to the size of the backlog itself, Rasmussen described it as “small,” adding:

“There is a multitude of factors which could contribute to a delayed fiat transaction (deposit or withdrawal). Many of which outside the realm of our control. I can’t comment on the size of this backlog. Conversely, it represents a minority relative to the number of daily processed transactions at Bitfinex.”

-Kasper Rasmussen


Bitfinex: Crypto Exchange Customers Not Satisfied. Apart from fiat withdrawal issues faced by users, some users experienced crypto withdrawal issues as well from the exchange. User ‘under_hood’ commented on Reddit that it was unable to withdraw its Bitcoin after the price fluctuations of USDT. Users complained about the loss the incurred because of the delay in the withdrawal process. The transaction was still under process even after six hours.

Along the same lines, @JaPennz, a Twitter user said withdrawals were not working as normal, and that they could not transfer funds from margin wallets to their exchange wallet.

In the end, the issue of withdrawal has affected many factors. Both the exchange and users are the responsible factors.

0 0 vote
Article Rating

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inline Feedbacks
View all comments