Major crypto exchange Bitfinex has announced an “better-quality” fiat deposit system, shortly after short-term suspension of deposits last week, on October 11, 2018 Bitfinex temporarily stopped fiat deposits in four fiat currencies – the Euro(EUR), U.S. Dollar (USD), Japanese Yen (JPY), and Pound Sterling (GBP) – without requiring a reason for deferment and claiming that fiat deposits are “expected to resume within a week.”
On October 15, 2018, the crypto exchange posted an information on fiat deposits, stating that Bitfinex had “for the time being paused” fiat deposits for “some of the user groups in the face of processing complications. The company also informed that all crypto and fiat withdrawals were processing without any interfering. The exchange claims the new system will again allow know-your-customer (KYC)-compliant customers “from around the world” to conduct deposits in the four previously suspended fiat currencies.
Crypto exchange Bitfinex informed that the withdrawals are not affected, yet some of the exchange’s customers appear to be facing a number of issues in withdrawing their funds – although the exact number is difficult to parse at present. Such complaints have occurred periodically in past months, which observers have blamed on Bitfinex’s reported banking problems that have seen it shift strategies amid an unfriendly regulatory environment.
Indeed, Bitfinex’s latest post drew several complaints about yet-to-be-fulfilled withdrawals on social media. @DongoFabrizio, @crypto_bull_in, @botcrypt, @bbc_trading, @ElCuartoAmigo and @rarelylose were just some of the users who reported recently, as stated in CoinDesk.
As per the company, it is working to implement a new and increasingly robust fiat deposit system to be available in the next 24 hours, to let for the well-organized processing of fiat deposits. Medium blog posted that the company informed until then, the firm apologized for the problem of the situation.
Crypto exchange Bitfinexspokesman Rasmussen said these cases were the exception rather than the rule. Cryptocurrency deposits and withdrawals continue to be fully functioning as well.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]