Hum… bad situation…
I have successfully withdrawn some MAID from Hitbtc tonight (it took 3 hours, but it always takes some time there). I’ve never had any problem there.
I also see no problems with MAID at the system page: https://hitbtc.com/system-monitor
(and yes if something is wrong, you can really see it there, like pending requests, or withdrawals disabled)
So what do people mean here by saying that they lost coins? Are the witdrawals just pending in the system waiting for email confirmation? Because lost for me means that your balance is zeroed, but I don’t think that’s the case here.
When an exchange is insolvent it does not mean they stop withdrawals for everybody. They simply do not let some people withdraw. This way they can manage some trust, because there are always people who can confirm withdrawals work. I have experienced this on Cryptsy in 2015. They stopped paying whales and let small amounts withdraw. Whales lost fortune and small players did not believe them. They managed to run it this way for pretty long time. I was stacked there with 400 LTC and 4BTC withdrawal plus 80BTC balance. I was lucky to find admin in chat and made lot of noice so he let me withdraw those LTC and BTC just to shut up my mouth in that public chat. I never managed to withdraw those remaining 80BTC. So they calm me down for a while so they could steal more. I lost almost everything I had in crypto there.
It’s all speculating. The insolvent news pops up once in a while, mostly because some media person has a problem that doesn’t get solved fast enough and then starts using his influece (Luke jr, Mcafee). If other people have another isolated problem then they immediately relate it to this ‘insolvent’ news. And so the FUD keeps rolling.
The poster here is talking about 7k MAID, that’s a small amount. I’ve withdrawn much more, multiple times lately without any problems. So I still think there is another (isolated) problem here.
I’m not saying that hitbtc is a good exchange, their support sucks, their communication sucks, withdrawals take too much time, high fees.
And any exchange could be insolvent at the moment. You can’t trust no one.
I’ve learned to go with Changelly (or coinswitch.co if you wanna pick among more offers).
I on the other stay away from Polo, and HitBTC was never on my radar to begin with.
Does anyone keep an eye on the Cryptopia poopshow? I hope nobody left any MAID on there,
Thank you Nick for chiming in! I am certian it had an effect with this. I was able to withdraw most of the funds in qustion however I was only able to do so in small transactions resluting in unnecessary fees.
I am hopeful that one day people around the globe are able be freed from these type of bad actors, whether private enterprise or corrupt regimes! The first application of an alternative to FIAT then later ICO’s took on two very big incumbent cartels, (central banks/W.$).
I will leave it at that and update this thread with the final tally of how much in fee’s this bad Exchange absconded with their cat/mouse game fleecing customers hiding behind KYC/AML…
Thanks again Nick!
fyi i just withdrew from bittrex and they charged 2 MAID
Let’s hope it doesn’t change
human greed is inevitable … buy while it’s still cheap to get them out
I’m not sure why Polo is so disparaged on here, to be honest. Except for the KYC stuff, which is necessary for them to be allowed to function in the US (not their fault), they have been pretty reliable. Their support kind of sucks, as most crypto exchanges do, but I don’t have problems exchanging for MAID, or withdrawing MAID (or any other coin) there. The one time I did, sure, their support took 48 hours before the responded, but I got my issue resolved.
It would be nice if Bittrex (US) and Binance listed MAID, but that seems unlikely to happen at this point.
Well that is good to hear you got coins back, sorry about the issues. @dugcampbell and I are giving thought about how best to proceed here. Collectively the community has experienced many issues with this exchange.
I have never ‘disparaged’ Polo. For a long time, I was a user myself. I just don’t use it anymore, and with an 80MAID withdrawal fee, I never will. I don’t wanna leave my coins on any exchange. And I don’t feel like paying them twenty bucks to withdraw. It’s just a matter of principle.
Leaving a lot of MAID there once was the thing that forced me to obey their KYC rules applying of which they handled in the stupidest manner possible (you will be informed in advance, withdrawals will remain enabled, blah blah blah… In the end, no prior notice, no withdrawal. KYC, or your coins are ours, end of it.)
So yeah, I do disparage Polo after all. Feels fair and too goood to resist
Be carefull, Nick. @dugcampbell
HitBTC is our biggest volume exchange.
I fear a big volume drop might affect the market bad for us, HitBTC is the 5th largest ”real volume” exchange.
As long as withdraws eventually goes through I think it would be wise to keep them for now.
People may complain with long withdraw times but with a huge price drop I don’t think they would be much happier.
It would be very good if we could get added to Bittrex partner exchange Upbit, the 9th biggest ”real volume” exchange.
Do you know if Upbit mirror Bittrex Malta or if you have to do a separate apply to them?
Now that we passed the requirement for Bittrex the chance to get listed with their partners should be good? Unfortunately Bittrex Malta don’t seem to get us similar volume as Bittrex US, maybe that will change in the future but alittle sad at the moment.
Of course, plenty to consider and we won’t make any rash decisions
To the best of my knowledge Changelly also mostly use them for MAID swaps.
Not 100% sure but worth investigating and knowing ripple effects.
Is that correct? I’ve just gone with coinswitch and they offered me these:
As I said not 100% sure who else they source their liquidity from but they certainly use HitBTC I know that much from previous communication with Changelly support.
So… I went and asked, and they are pretty clandestine about it (we don’t disclose this sort of information, thanks for your understanding, etc.)
Not very transparent, but I think they may shield one from having to put up with the occasional nausea HITBtc is reportedly so apt at causing.
Ill see if I can dredge it up later, I had them respond/confirm it on reddit a while back too.
If you think about it though who else would they use? Polo… I don’t think so
I bet you’re right. I just wanted to know for sure, and also to see whether they would go for full disclosure. The entire crypto space has grown more ‘professional’. More and more crypto fellas have adopted the cryptic corporate jargon. Gentleman never tells.