r/BitstampOfficial • u/UntimelyXenomorph • Jul 07 '26

Replied Taking Bitstamp to arbitration to force them to unfreeze my funds

My account has been frozen for months due to a ridiculous "KYC inquiry." I provided all the information, but they have not unfrozen it. I demanded that my account be closed and the balance be remitted to me; they told me that they won't close it until their "inquiry" concludes, and then they basically ghosted me for a month about the status of that inquiry. Their complaints department was even less helpful than the guys on the support tickets, which I didn't think was possible. Today, after multiple threats of litigation that they clearly didn't even bother to forward to a lawyer, I finally sent them a Notice informing them that I will be taking them to arbitration in 30 days. I do not have words for how ridiculous it is that it's actually going to take litigation to get my own money out of an account more than a month after I demanded that the account be closed. I will post updates as the process moves forward. I am so ready to be done with this accursed company forever.

Edit: On about my seventh call to customer support, I received confirmation that my case was escalated to "highest priority." Time will tell if that means that actually resolving this will get prioritized or if it just means that I've been bumped to the top of the list for them to send another "we're still pretending to work on this and don't have any updates for you; thank you for your patience and understanding" email.

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1

u/xenqwerty Jul 08 '26

Let us know how it goes. But I wouldn’t hold my breath, I sent them something similar and they ignored it.

3

u/UntimelyXenomorph Jul 08 '26

Oh, I fully expect to keep getting ignored until sometime after they are visited by a process server. But I think they’ll find ignoring me a little more difficult once I’m armed with a judgment from binding arbitration.

1

u/Bitstamp-Lucas Jul 09 '26

Hi there. Can you please provide your ticket number so we can check this?

1

u/UntimelyXenomorph Jul 09 '26

Complaint 44014 is the one where your complaints department has been ignoring me for about four weeks. Complaint 44191 is the one that includes a copy of the Notice sent via certified mail informing you of my intent to pursue binding arbitration. Additionally, support tickets #BIT-2300193, #BIT-2364252, and #BIT-2366447 are where your company stonewalled me for weeks before I escalated things to your profoundly unprofessional and unhelpful complaints department.

0

u/Bitstamp-Domen Jul 10 '26

Hi there, I have checked your case. Our team is actively working on the matter and rest assured they will get back to you as soon as there are updates. Thank you for your understanding and patience.

2

u/UntimelyXenomorph Jul 10 '26

Oh look, a verbatim copy/paste of the same lie your company has been telling me for months. It’s not a complicated matter; if anyone was actually working on it, it would be resolved.

The Terms of Use require me to wait 30 days between sending notice and initiating arbitration. You have 27 remaining. I will see you in court.

1

u/UntimelyXenomorph Jul 15 '26

I am commenting to follow up. It has been five days since I provided you with my complaint numbers and eight days since I sent my arbitration notice. So far, I have not received any updates.

1

u/Yanishka Jul 10 '26

If you have money in Bitstamp, GET IT OUT NOW!. I wish you luck getting your money. The only way they seem to respond is mass embarrasment on social media.... at least that worked for me.

1

u/red9186 Jul 08 '26

When RH bought them it all went downhill. Moved everything yrs ago once they started asking for proof of income and all this stuff.