Ice3x coin withdrawel

[FrEaKo]

Hi guys,

I sent some litecoin to another wallet this morning on Ice3x and as of now it's still on lockdown on the exchange. It hasn't been sent anywhere and I also cant cancel it or do anything with it. I've created a support ticket to ask but they haven't responded to that as well.

I am guessing they have all probably gone home now so my coins are locked. How long doe these guys take??

 

[membra]

Only one day? I've been waiting over 72hours now with the same problem for an ETH withdrawal. Deducted from my account and shown as completed, but according to etherscan.io, the transaction hasn't even been placed yet. I understand that with the sudden craze these guys have been busy, but this is unacceptable. At least process the transactions. If ETH was suddenly dropping, I'd lose it all with no chance to be able to sell.

 

[acidrain]

I've been waiting over 72hours now with the same problem for an ETH withdrawal. Deducted from my account and shown as completed, but according to etherscan.io, the transaction hasn't even been placed yet. I understand that with the sudden craze these guys have been busy, but this is unacceptable. At least process the transactions. If ETH was suddenly dropping, I'd lose it all with no chance to be able to sell.

Can potentially wait another 2 days which is how long my one transaction took. Nothing the exchange can do about network congestion.

 

[membra]

Can potentially wait another 2 days which is how long my one transaction took. Nothing the exchange can do about network congestion.

If that's the case then they shouldn't be complaining on Twitter about the high ticket volumes, they should be putting out a notice that there is network congestion that is causing it and they have no control over it. People freak out when their money is on the line, better communication would lower their ticket volume and put everyone at ease.

 

[Ticking12000]

I have been waiting over 7 days to have an issue withdrawing my Bitcoins. 2FA not working with their site anymore and support does not respond. So dont hold your breath.

 

[Lament]

I have been waiting over 7 days to have an issue withdrawing my Bitcoins. 2FA not working with their site anymore and support does not respond. So dont hold your breath.

Well glad i'm not the only one struggling with these people. Once my 2FA gets fixed ICE wont see me again. Absolute pathetic service from Ice3.

 

[BitcoinZAR]

I am busy with an article about the issues lately not only on ice3x.com but other exchanges too, there are LOTS of issues that exchanges are having....i'll hopefully be finished today. What is happening on ice is not unique to them.

 

[John Tempus]

If they take that long to send out withdrawals it has nothing to do with transaction backlog. Are they sending out withdrawals with no fees, I doubt it. If it doesn't even show on etherscan then it plain and simple wasn't processed from the sender side.

 

[BitcoinZAR]

Here is an article about issues on exchanges locally and internationally https://www.bitcoinzar.co.za/cryptocurrency-exchanges-struggle-influx-new-users/
It seems there are lots of delays on the networks, as well as internally with the influx of users. Both bitstamp and coinbase sign up over 100k users a day, I dont SA exchanges get anywhere near that many, but they are also flooded with new users.
New members need verification, support tickets, deposits and withdrawals to be processed etc. Exponential growth in users means things slow down on the exchange side. You cant upscale staff at the same rate, when they need to be trusted and have the correct skill set too.

 

[BitcoinZAR]

If they take that long to send out withdrawals it has nothing to do with transaction backlog. Are they sending out withdrawals with no fees, I doubt it. If it doesn't even show on etherscan then it plain and simple wasn't processed from the sender side.

You might think that if you are using a straight wallet to wallet transaction. Exchanges dont always do this, they have a complicated system working in the backend that might use 3rd party services.

Sometimes things are delayed as it is a wallet to smart contract transaction, which might need a higher fee...or if the network is congested, fees might be rising and by the time they are broadcast, they are too low. Some exchanges use a service provider to act as the gateway for the transactions, so the gateway itself might have a backlog too.

When there are extremely high volumes of transactions, and fees are changing, it is common for transactions to need to be re-broadcast. It is also possible in extreme cases for the API calls allocated per hour or day to be exhausted quicker than normal.....or if there are limits on the amount of transactions that can be broadcast in a set amount of time by the gateway, it can cause problems.

 

[John Tempus]

You might think that if you are using a straight wallet to wallet transaction. Exchanges dont always do this, they have a complicated system working in the backend that might use 3rd party services.

Sometimes things are delayed as it is a wallet to smart contract transaction, which might need a higher fee...or if the network is congested, fees might be rising and by the time they are broadcast, they are too low. Some exchanges use a service provider to act as the gateway for the transactions, so the gateway itself might have a backlog too.

When there are extremely high volumes of transactions, and fees are changing, it is common for transactions to need to be re-broadcast. It is also possible in extreme cases for the API calls allocated per hour or day to be exhausted quicker than normal.....or if there are limits on the amount of transactions that can be broadcast in a set amount of time by the gateway, it can cause problems.

I dont agree with this assessment as a complete valid reason. During the high transaction fee/network delay periods I have never had a withdrawal on poloniex or bittrex not hit the chains of whatever coin I am withdrawing. The only time I can understand processing taking longer is if a site hotwallet is constantly running dry or if a site exclusively do manual processing from coldstorage for every withdrawal.

Lastly, and this is speculation but I wont put it out of the realm of possibility, it might be that some of these smaller exchanges add network fee to each user withdrawal and then stack up until they have a large amount of requests and send it out in a single transaction thus pocketing all fees they charged users and just use a single fee.

Some of your examples could be valid but not when users report 3,4 or 7+ days waiting for a withdrawal of their coins just to hit the actual chain explorer of whatever coin they are withdrawing. Delays such as this is total BS stalling tactics or the exchange is out of their depths completely and that in itself is indicative of worse things that might happen down the line so just stay away as early as possible.

 

[BitcoinZAR]

Most exchanges having the same problems....they all saying the same reasons. Its entirely possible that Poloniex or Bittrex has a much bigger team of admin staff than Luno or Ice Cubed...and with that, bigger amounts in the hot wallet, or more regular moving of coins from cold to hot wallet.

It is possible smaller exchanges might run a batch of transactions every so often, while bigger ones might process all transactions immediately.

 

[John Tempus]

Most exchanges having the same problems....they all saying the same reasons. Its entirely possible that Poloniex or Bittrex has a much bigger team of admin staff than Luno or Ice Cubed...and with that, bigger amounts in the hot wallet, or more regular moving of coins from cold to hot wallet.

It is possible smaller exchanges might run a batch of transactions every so often, while bigger ones might process all transactions immediately.

Alot of things are possible but the one thing that is true is that this is unacceptable and reasons used if remotely true shows some serious lack of urgency or respect for client funds. Only exchanges I am aware of with sudden issues is ZA exchanges, none of the international exchanges from the big boys Bitfinex down to the baby boomers liqui exchange have any of these so called days delays on withdrawing crypto.

Fewer batch transactions would be fine but my worry with these excuses relate to users waiting days to even get a crypto withdrawal to reflect on the coin chain. Hours or worse case a day for a small exchange for whatever reason would almost be acceptable but not multiple days.

Something just doesn't add up and I would hate to think all our ZA exchanges operate with 100% coldstorage and moving each withdrawal request one by one manually by a single operator.

Aside from all the potential negatives of these situations it might be that we are not aware of something happening in the backend where extra KYC is being done on users withdrawing above an arbitrary amount after buying with ZAR. I know coinbase do this to americans but I would hope ZA exchanges arn't already on this warpath and forced to scrutinize every other transaction coming in and out even if its just crypto coming in or going out.