Several investors have shared their frustrations regarding withdrawal requests being frozen by the Bitmart exchange on social platforms like Telegram and Twitter. According to a post made by an admin of the exchange’s official telegram group, they are manually reviewing all withdrawals at present. Meanwhile, Tweeba had stated on its Twitter account that the exchange is simply verifying all transactions in order to freeze illegal trading activity.
But most users do not believe this is a fair decision.
Apparently, the traders are not satisfied with this answer. One user had been waiting for 49 hours but have yet to receive his/her funds. Another one claims that his/her predicament has been going on for ten days.
The worst case found was one whose withdrawals have been completely forbidden.
And the most concerning part is that when users complain too much, they are threatened to be banned from the community. One user was just asking why some users get to withdraw within 30 minutes while others don’t receive their funds even after 10 days. And then he was met with a warning.
With an average daily trading volume of $155 million, Bitmart is considered to be one of the world’s biggest crypto exchanges. Yet it appears they are taking too long to resolve such a critical issue. The most disappointing fact is that users have not been given any updates on anything.
Bitmart Withdrawal Issues Connected with Tweebaa Dump?
Some users have concluded that Bitmart’s withholding of user funds might have something to do with the manipulation of $TWEE.
$TWEE was steadily growing recently, reaching an all-time high of $83 on September 4, until the token crashed below $1 a couple of hours later. After this, the exchange’s liquidity suddenly depleted, which aroused a lot of suspicion from the community.
The Tweebaa platform has been recently accused of dumping $TWEE over its users on Bitmart, and hence, the exchange might be taking active measures to prevent them from getting away with their money. This was confirmed in Tweeba’s twitter post.
Tweeba Inc. is currently rumored to be under a local police investigation. However, the company has denied such allegations and insist that the crash of $TWEE was the result of FUD and an entity/entities mass dumping the coin.
The company also stated that they had not done “any action” that violates existing market laws. In fact, they claimed to have used almost 30 million USDT to prevent the crash of their token. However, they lost in the battle against “unhealthy forces.”
However, not everyone is convinced. Some users put the blame on both the exchange and the company that runs the project.
At this point, since no law enforcement has made any information regarding this situation public, nobody truly knows the true cause of this issue. The bottom line is, users need to be able to withdraw their funds. And it seems unfair that everybody has to be affected by a single project’s demise.
As of yet, Bitmart has not given any updates on this issue.