So over the past 24 hours I have been researching this issue with Bittrex closing accounts. Mainly, I have been reading all the posts on various forums and looked for a common thread among all the people who have had their accounts put on hold. Now all of this below is just speculation, but I wanted to share it with you since you may not have had the time to research this on your own.

It seems a vast majority of the accounts banned are from Syria, Iran, and other such “volatile” countries. Another thing I noticed is that people from these countries were posting on the boards saying that not only did their account get closed, but they personally knew of 50 people in their city that were also closed. Another poster from Iran claimed that nearly 500 people from his town had their accounts disabled.

First of all, if these posts are true, I find it hard to believe that 500 unrelated people in one Iranian city all trade cryptos, and all do it on the same exchange. This leads to me to believe that Bittrex was going after price manipulators or other forms of group trading originating out of these countries. Of course, some innocent people have been caught up in the banning as the accounts were probably being flagged by some detection software. But overall many of the people complaining mentioned said they also knew of other people PERSONALLY who had their accounts banned. Trading alt coins is still a very low population game, I live in a large U.S. city and I doubt I could even find 100 people who also traded if I spent weeks searching and posting online. So the fact that so many of these people posting also said that anywhere from 50-500 people were also having their accounts banned in the same city, it makes me think there was some sort of market manipulation taking place. Bittrex has set up some kind of program to catch this, and of course, some innocent accounts are being affected as they go through them all.

Like I said, this is all speculation, but based on my reading, I noticed this common thread.

If you enjoyed this content, please consider a tip of BTC.

1PDzHDqW5FwpVZ29ZcyaG5m28ct21bkQEp