Announcements

Announcements > USD Withdrawals Update May 12, 2017

As noted in our prior announcement, US correspondent banks continue to block international wires. USD, however, continues to flow domestically in Taiwan and other channels have been slowly ramping up as evidenced by the price spreads narrowing between Bitfinex and other exchanges. Unfortunately, the solutions available to us at the moment are limited to specific customer profiles in certain jurisdictions, though we are working tirelessly to expand our portfolio of deposit and withdrawal options (including support for other fiat currencies) to meet the needs of our global customer base. If and when a customer qualifies for one of these channels, we will reach out to the customer. There is no need to inquire by means of a support ticket.

We have, however, moved the majority of our funds out of Taiwan and the “one-time” withdrawal solution discussed in the prior announcement is coming online. Unfortunately, due to the cumbersome nature of the settlement procedure, we are processing these requests in descending order of size as we learn how to handle the process more efficiently. For the time being, we will only process requests above $50,000 in size. We believe that by the time we are able to get to the smaller withdrawals, other, less cumbersome withdrawal solutions will become more widely available. If you are interested in this option, please submit a normal withdrawal request and reference in a support ticket with subject “USD settlement request” - we will contact you when we are ready to process that withdrawal.

We are deeply grateful for the patience and forbearance that our customers and shareholders have shown us as we work to restore normal operations. We apologize for the inconvenience and look forward to resolving these problems in the coming weeks.