Bittrex disabled all New York-based user accounts, assets unrecoverable

10 Jun, 2019
by Fifi Arisandi
Exchange
Bittrex disabled all New York-based user accounts, assets unrecoverable

Bittrex is officially unavailable for New York based customers, user accounts are closed, assets that are not yet withdrawn are unrecoverable. 

Bittrex is officially unavailable for New York-based customers as per June 9th. Although the announcement was made 2 months ago via the exchange’s support page, users were unaware of it and even considered it as a hoax when someone posted it on Reddit.

“So your saying if I had money in bittrex and I hadn’t seen this till today. You would keep my money and make it inaccessible? Sounds like fucking bullshit to me,” said user Dylandoingthings on “Bittrex is removing accounts for new yorkers in 3 hours. GET FUNDS OFF” thread.

Another user who also posted the warning said that many people are unaware of it and that he just saved his friend $40K.

Card

To recap, the move was taken by Bittrex after the New York Department of Financial Services (NYDFS)’s denied the the exchange’s BitLicense application earlier.

“The NYDFS denial of the BitLicense application from Bittrex requires us to suspend operations in the state immediately. NYDFS's decision is confined to New York state only, and is not a restriction on any other location in the United States or internationally,” wrote the announcement.

Thus, they are not permitted to continue providing services in New York state.

“We regret to notify you that Bittrex will be ceasing all operations for New York residents.  All trading for New York customers will be halted on April 11, 2019 at close of business (COB) with all account access disabled on June 9, 2019 at COB,” the team wrote.

Just a couple of days ago, the Seattle-based exchange announced a change of services for US-based customers, this time, as part of efforts to comply with the US regulations.

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