5 ms·

Your account is immediately frozen if you log in just once via a US IP address. They track funds from known hacks and are not considered a safe option for hacke

Your account is immediately frozen if you log in just once via a US IP address. They track funds from known hacks and are not considered a safe option for hackers to liquidate. They have a much better reputation for service, exchange quality, and account safety than any of their non-KYC competitors. Not a single US dollar has passed through their platform -- nobody is using it for money laundering, but for speculative trading. They still have to convert to fiat somewhere. The fiat on their platform is synthetic. What more were they supposed to do? I just hope this witch-hunt doesn't end the same as the Dread Pirate Roberts case for the government's political game on controlling cryptocurrencies and maintaining their monopoly over the financial system. Hayes is a great comedic writer and insightful analyst on the global financial system -- I highly recommend his posts on the Bitmex blog. However, I fear the tongue and cheek and comedy will be used against him in the case.

metadatabad 6y ago
Exactly. Just like what the other poster said, the World Police BS has to stop now.
switch11 6y ago
Unfortunately, this is very accurate -> I just hope this witch-hunt doesn't end the same as the Dread Pirate Roberts case for the government's political game on controlling cryptocurrencies and maintaining their monopoly over the financial system. * They went after Kik and Telegram also They basically don't want anyone to have any option to bypass the Petrodollar
huac 6y ago
> Your account is immediately frozen if you log in just once via a US IP address. The complaint alleges that the check for a US IP address only happened once and that they did not take any precautions against VPN usage, so as long as you VPN'd once, you could login from US addresses as much as you wanted afterwards. Furthermore, the complaint alleges that the company leadership received analytics reports broken down by country, including the US; and that the team did not monitor the funds from a hack in 2018, which allowed the hackers to launder those funds. These allegations may be false, but the case seems strong that Bitmex 1. served US customers, 2. did not comply with the necessary US regulations to serve those customers.
- dannyw 6y ago
  The complaint is factually incorrect. I visited BitMEX while on a holiday trip to the USA. Immediately I got a notice of account closure, banning me from trading and telling me to withdraw my funds in 7 days. I petitioned support and was unable to get my account restored. -- It's impossible to monitor EVERY single hack in the crypto space, but BitMEX has actively worked to do their best to track and freeze hack funds. Their customer service is incredible, when I had an issue with their API, I got a direct response from the CTO fixing my code for me, within the same hour. When I had a dispute with instrument methodology, one of the founders got back to me in the same day, explaining why. It has never been hacked or suffered a serious security breach. The only thing I remember was a one-time accidental CC instead of BCC in the newsletter program.

metadatabad 6y ago

Exactly. Just like what the other poster said, the World Police BS has to stop now.

switch11 6y ago

Unfortunately, this is very accurate -> I just hope this witch-hunt doesn't end the same as the Dread Pirate Roberts case for the government's political game on controlling cryptocurrencies and maintaining their monopoly over the financial system. * They went after Kik and Telegram also They basically don't want anyone to have any option to bypass the Petrodollar

huac 6y ago

> Your account is immediately frozen if you log in just once via a US IP address. The complaint alleges that the check for a US IP address only happened once and that they did not take any precautions against VPN usage, so as long as you VPN'd once, you could login from US addresses as much as you wanted afterwards. Furthermore, the complaint alleges that the company leadership received analytics reports broken down by country, including the US; and that the team did not monitor the funds from a hack in 2018, which allowed the hackers to launder those funds. These allegations may be false, but the case seems strong that Bitmex 1. served US customers, 2. did not comply with the necessary US regulations to serve those customers.

dannyw 6y ago
The complaint is factually incorrect. I visited BitMEX while on a holiday trip to the USA. Immediately I got a notice of account closure, banning me from trading and telling me to withdraw my funds in 7 days. I petitioned support and was unable to get my account restored. -- It's impossible to monitor EVERY single hack in the crypto space, but BitMEX has actively worked to do their best to track and freeze hack funds. Their customer service is incredible, when I had an issue with their API, I got a direct response from the CTO fixing my code for me, within the same hour. When I had a dispute with instrument methodology, one of the founders got back to me in the same day, explaining why. It has never been hacked or suffered a serious security breach. The only thing I remember was a one-time accidental CC instead of BCC in the newsletter program.