What is Bittrex doing and why?
As you may be aware, Bittrex Inc. filed Chapter 11 bankruptcy in federal court in Delaware on May 8th. We have been granted permission by the United States Bankruptcy Court to allow customers who meet the necessary regulatory requirements to access their accounts and withdraw their remaining assets.
Which customers will be affected?
- Customers with a balance who have completed the Know Your Customer (KYC) verification process and accepted the latest Terms of Service can login to their account and withdraw remaining assets and download their order history. Customers that have not completed their KYC verification or accepted the latest Terms of Service will be given the option to do so upon log-in.
- Customers without a balance will be able to log in to their accounts, download their account history, and collect their Bittrex Account ID, if necessary. No additional account features will be available. While Bittrex does not provide tax advice, we note that you should retain a copy of your account history even if you do not currently have a balance for tax reporting purposes.
When will I be able to withdraw my funds?
Beginning June 15th, eligible users will be able to login, complete any necessary requirements, and withdraw their funds.
The deadline to remove withdrawable assets from your account or file a proof of claim is midnight (EDT), August 31st, 2023. If you decide to file a proof of claim, you will be provided with more information from Omni Agents on the process (see below).
How can I access my account?
How can I reset two-factor authentication (2FA)?
We have a self-service option to reset your 2FA. To use this option, you must have an unexpired passport, driver’s license, or ID card. Additionally, your account must currently be KYC verified. To use the self-service option please navigate to https://bittrex.com/login and enter your email address and password. On the next screen please click the link, ‘Lost your 2FA device?’. You will be sent an email and will need to follow the prompts to take a selfie and photos of your ID. We will reach out via email once your request has been reviewed. You can also reference this article for further information.
If self-service is not an option, please submit a ticket via our support site.
What account options will I have available when logged in?
You will have the ability to verify your account and provide KYC information (if necessary), request 2FA and/or password resets, download your account history, and withdraw remaining assets (if applicable). You will also be able to view your Account ID while logged in, which will be needed for those that choose to file a proof of claim. Trading (buy and sell) and deposits will not be supported.
How can I withdraw cryptocurrency?
For cryptocurrency remaining in a customer’s account, a wallet will need to be established that supports the specific crypto assets. Options include, but are not limited to, setting up an account at another cryptocurrency exchange and/or establishing a hardware or software wallet. If balances of cryptocurrency do not meet the minimum withdrawal size (i.e., are less than the network transaction fees to transmit the cryptocurrency off the Bittrex platform), we will be unable to process these withdrawals.
Please see this article for a detailed guide on how to withdraw cryptocurrency.
How can I withdraw USD?
- Bank Wire Transfer
- Customers will need to apply to link their bank account for wire transfers. Please note that wire transfers incur a $25 wire transfer fee.
- At this time, ACH is offline. Bittrex is working with our partner to re-enable ACH, but we currently have no commitment this service will be available.
What if I can’t withdraw crypto or fiat from the Bittrex platform due to the transaction minimums?
If you are unable to withdraw cryptocurrency due to the minimum withdrawal amounts or USD because you hold less than the $25 wire fee, you can submit a proof of claim for the balances in your account as outlined below. The bankruptcy court will then determine when and how these remaining balances will be distributed.
How can I file a proof of claim for my funds?
Customers who are unable or unwilling to withdraw from the Bittrex platform or believe they have a separate claim against Bittrex, Inc. or the other debtors have the option to file a Proof of Claim through the court’s claim agent website: http://omniagentsolutions.com/Bittrex. Should you decide to file a claim, you will be required to provide Omni with certain specified identifying information, including your account ID. You can find your account ID by logging in here.
Should you file a proof of claim and subsequently perform the necessary steps to withdraw your funds from the Bittrex platform, Bittrex may object to the proof of claim to avoid double payment because you already withdrew the tokens and/or fiat associated with your account.
What if I am collecting funds on behalf of a deceased relative?
Please submit a proof of claim along with any supporting documentation demonstrating you are the beneficiary or trustee of the estate. Given that we are operating under the court’s supervision, Bittrex will no longer be able to independently evaluate and process survivorship requests.