My complaint:
This complaint is against the cryptocurrency exchange called Bitstamp. I have had an account at Bitstamp for several years. When I attempted a few weeks ago, January 2026, to buy more Bitcoin, I was surprised to find Bitstamp had frozen my account, not allowing deposits, purchases, sales, or withdrawals. Bitstamp has given me a list of things I need to provide them before they will lift their restrictions my account. I have submitted everything that I think they have asked for, but they remain dissatisfied and won’t communicate with me with specific items that they remain unhappy with.
Bitstamp communicates with me using boilerplate demands that are confusing to me, but as mentioned, Bitstamp refuses to answer my request for them to be specific in what they need in order to release my account.
Bitstamp is holding my .327 Bitcoins, which I purchased with $34,000 USD. They seem to be most concerned that I may be laundering money. I have asked Bitstamp just how much money they think I might be laundering, with such relatively small amounts of Bitcoin and dollars. The value of my .327 Bitcoins is now about $22,000. Bitstamp continues steadfastly to prohibit me from accessing my Bitcoins
Even though it would mean a financial loss for me, I have asked Bitstamp to liquidate my Bitcoin and send me the proceeds. They have not done that and all indications are that they are refusing to do that. Bitstamp is so unpredictable and difficult to work with I would be happy to simply be separated from this company, even though it would mean a loss of $10,000 or so to me. .
Here’s an example of the confusing boilerplate they send me demanding information (which I have complied with as best as I can):
——————Begin Bitstamp’s boilerplate demand——
We ask you to:
Submit financial documentation which can the origin of your sent funds, such as a salary pay slip, tax revenue statement, investment portfolio or similar. Please ensure that your personal information, amounts and the origin of funds are clearly visible in the documents provided.
Describe, in your own words, how you intend to use your account, providing as much detail as possible.
Elaborate what is the purpose and destination of your cryptocurrency withdrawals and provide relevant documentation/screenshots supporting your statements. Please ensure that your personal information (name, email,…) is also clearly visible on the documents/screenshots provided. Please elaborate on the discrepancy between the estimated deposit amount stated in your KYC questionnaire up to $50,000 and your actual deposits so far 79,000$. Resubmit your KYC questionnaire with updated answers that correspond with your actual intended activity and deposit volumes via the appropriate sections here: https://www.bitstamp.net/my-information/documents/
——————End Bitstamp’s boilerplate demand——
Bitstamp’s request for the origin of my funds, as above are unreasonable and really none of Bitstamp’s concern. Still, I have sent to Bitstamp, twice, the source of my funds.
So, since I have tried and failed twice to satisfy Bitstamp’s confusing demands, and since Bitstamp won’t tell me with specific response exactly what I have neglected to send them, I would like to see Bitstamp lift their restrictions my account and inform me in writing that they will not freeze my account again. It is impossible to conduct business using Bitstamp’s exchange services when they can and do, unexpectedly freeze my account. Bitstamp’s vague and unpredictable policies make it impossible for me to accumulate cryptocurrency, buy and sell to my advantage, and pursue sound investment strategies.
I believe that Bitstamp’s refusal to lift their restrictions my account amounts to theft of my .327 Bitcoins, valued as mentioned to around 22,000 U.S. Once again, I hope the FTC can encourage Bitstamp to release their restrictions on my account and give me assurance that they won’t freeze my account again.
Suggested solution:
1. Lift all restriction on my account.
2. Assure to me in writing that Bittamp will not place restrictions on my account again.
