I´m amazed on how unproffesional Bitmex is

Hi!

I feel i need to share what happened to me in december -2017. I have been trading crypto for a couple of years,  so far so good until i thought it was a good idea to test Bitmex trading-platform. What a big mistake that was…

Well, my experience with Bitmex was brief and quite impressive,  they failed remarkably to act as a credible exchange. I will absolutely never use them again, and would most certainly recommend to stay away, who knows what the excuse will be next time…

They really deserve the scam-stamp.

This is not how a legitimate company acts…

Long story short,  I wasn’t able to close my position as I “pressed the wrong button” Bitmex say. I have been trying to negotiate with them for some sort of resolution but they plainly refuse.
In my world, how can you even have a so called wrong button on the page wich doesn’t work under load. I was suppose to close the whole position and not part of it, because that section of the page doesn’t work under load. Information about this was on their blog on the 12th of december, while it really should be big warning on the website about it, also… shouldn’t there be a warning text on the specific section that it doesn’t work under load? This says everything about Bitmex, they probably made a huge amount of money because of this, a huge flaw on their platform, and a flaw that they very much appreciate.
The close button in the position list was also pressed, but Bitmex don’t want to acknowledge that. It`scam written all over it.

All in all 7 BTC was lost, at the time a little more than 100K USD.
I reached out and encouraged to some sort of reimbursement, but they plainly refused. I mean, we are talking about quite alot of money here, and all that they say is “sorry for your loss” and send a link to their blog about wich button to press, as sometimes the platform doesn`t work under load, or more propably when it suits them. They even present the raw logs, at least some of it.. where we can see that i was trying to close positions but it didn`t execute, here it is, black on white. So to summarize everything, they don`t care about you and your money, their goal is to fill their pockets, by any means necessary.

When researching more on Bitmex, i realise i`m far from alone. Although, the complaints i`ve seen is about far less money.

I have worked really hard to gain these funds, and it`s “ALOT” of money for me.

Businesses like this hurt the reputation of crypto, they are pure cancer to the economy and should be shutdown immediately.

My conversation with Bitmex

Here you can take part of the whole conversation i had with Bitmex.

Enjoy!

 

Re: Couldnt close
21 meddelanden

BitMEX Support <support@bitmex.com> 13 december 2017 20:06
Svara: BitMEX Support <support@bitmex.com>
Till:

Hello Rickard,

Thanks for reaching out to BitMEX.

We’re taking a look at your ticket. We like to answer requests correctly, the first time. Often, this means we have to pull up some internal information to better get a sense of your request, or stop and talk directly to the co-founders.

Rest assured your request will be handled shortly. Expect an email soon.

Best,

BitMEX

32993:165964


BitMEX_William <support@bitmex.com> 13 december 2017 21:50
Svara: BitMEX_William <support@bitmex.com>
Till:
Hi Rickard,
Did you receive an error message when trying to close your position?
Liquidations are based on the mark price of the contract. The mark price is not the same as the last price or index price. Please be aware the mark price is not displayed on the chart.
You can see the mark price displayed under the last price on the trade page.
When you were liquidated we sent you a liquidation notice email that explains this in more detail. Please check your email inbox for this notice and if you have any further questions after reading it, reply directly and we will assist you.
Regards,
William

Rickard 13 december 2017 23:59
Till: BitMEX_William <support@bitmex.com>

Hi William!

Liquidation price or not. It liquidated because I couldn’t close it.
We are talking about 7btc, and the whole page halts and says something like we are overloaded, order submission error. I cannot find that acceptable when you’re trading with so much money. For me it’s alot of money, and everything gone just like that, because the platform malfunction. The close button doesn’t work but the liquidation engine does.
So i really hope you can help me out on this one, I really can’t see my why I would deserve this,  when the site fails.
[Citerad text är dold]

BitMEX_John <support@bitmex.com> 14 december 2017 12:12
Svara: BitMEX_John <support@bitmex.com>
Till:
Hi Rickard,
You can read about how load shedding works on our exchange and how ensure you can still close your position here – https://blog.bitmex.com/site_announcement/update-to-system-overload-policy/
Sorry for your loss, however with the above information you can avoid this happening again in future.
Regards,
[Citerad text är dold]

Rickard  14 december 2017 12:33
Till: BitMEX_John <support@bitmex.com>

Hi John,

That didn’t help much as it says :

For the benefit of our traders, the following request types are no longer subject to rejection during overload:

  • Adding/removing margin from a position or adjusting leverage.
  • Canceling an order.
  • Market or Limit Close of a position, when using the Close buttons on the Position table.
    • For API users, this corresponds to use of the “Close” execInst.

Then why did the close didn’t work?

Pls take your responsibility and fix this. It was – 3.4btc when I started trying to close the order.

During the misery I managed to take a screenshot wich is attached to this email. The same message repeated itself again and again until it finally got liquidated.

How can this be my fault and you say sorry for your loss. It doesn’t work like that.
It should be of course Rickard, we will look into this and help you the best way we can. And as it’s pretty obvious there was a malfunction with our platform you should be reimbursed.
Look at the screenshot, there you have it. Your platform couldn’t perform a close of the position.
[Citerad text är dold]

BitMEX_John <support@bitmex.com> 14 december 2017 16:19
Svara: BitMEX_John <support@bitmex.com>
Till:
Hi Rickard,
There is no image attachment, can you please re-attach it?
Regards,


[Citerad text är dold]

32993:165964


Rickard 14 december 2017 16:27
Till: BitMEX_John <support@bitmex.com>

Ohh, sorry John, I guess I’m a little distressed by all this, ok not a little.. I’m sort of panicking.

I’ll try again.
[Citerad text är dold]

 

Screen Shot 2017-12-13 at 12.26.37.jpg

BitMEX_John <support@bitmex.com> 14 december 2017 17:57
Svara: BitMEX_John <support@bitmex.com>
Till:
Hi Rickard,

How did you try to submit the order?

Did you submit it via the close option in the positions list in the bottom right corner of the trade page?

Or did you submit it via the “Place Order” panel?
Regards,


[Citerad text är dold]

32993:165964


Rickard 14 december 2017 18:09
Till: BitMEX_John <support@bitmex.com>
Hi John,

Well, i can’t see what that has to do with it.

I used the close button on the position area like constantly, in the end i tried everything.
[Citerad text är dold]

BitMEX_John <support@bitmex.com> 14 december 2017 18:11
Svara: BitMEX_John <support@bitmex.com>
Till:
Hi Rickard,
It’s relevant because if you read the load shedding notice you will see that orders submitted via the close positions panel are not load shedded, where as orders submitted via the place order panel are.
In future to ensure you can close your position please use the close section of the positions list.
Regards,


 


Rickard  14 december 2017 18:22
Till: BitMEX_John <support@bitmex.com>

Yeah, I see it in the description.

But didn’t you read what I just wrote to you?

The obvious place is the position list and that’s where I pressed close. For me there is no other place, but what do you do when that doesn’t work? Well you just sit there’s watching the money dissapear.
You can watch the logs. You clearly see that I was logged in. What do you think I was doing? Laughing through it? The dip began and I logged in, and when – 3.4btc I felt to hell with it because I can still trade back the loss.
And then the close button doesnt work?
Ffs, I can’t be the only one. You see it clearly in the screenshot, the button doesn’t worked.
I will not give up that’s for sure, i can go trough great lengths about this.
If this is how you treat a customer.
[Citerad text är dold]

Rickard 15 december 2017 13:11
Till: BitMEX_William <support@bitmex.com>

Hi again!

I will give you an opportunity to give me an offer on how to solve this.
You must know I don’t require the full reimbursement as I started pressing close at – 3.4btc. So give me your offer, you know very well that your trading engine was to blame for this.
I will give you until Wednesday next week, the 20th of December.
After that i will go public with this whole conversation, screenshot and so on.
It will be published at forums like cryptocointalk.combitcointalk.org, on twitter, on cryptogroups on Facebook, all the review sites i can find and I promise you it will get its own domain.
I also have a witness to this whole mess that runs a big tradinggroup at Tradingview.com, it will be spread there also.
The list will go on..
As I said, earlier, I will go to great lengths about this.
So, an offer is all I’m asking for, it won’t be nothing compared to what you would loose on me going nuts online. Because I know I’m right, and the right thing to do is reimburse for the damage your product have caused.
I really don’t have time for this, but if you don’t help, I will take the time, trust me.
Frankly I don’t understand why this is such a problem for you. You know you had problems with the site before and yet again, and still don’t acknowledge the problem and show some professionalism.
I will leave it in your hands now, you decide the outcome.
[Citerad text är dold]

BitMEX_John <support@bitmex.com> 17 december 2017 11:07
Svara: BitMEX_John <support@bitmex.com>
Till:
Hi Rickard,
I see in your trade history you sold 100,000 contracts just before the liquidation.
This would imply that you were trying to close the order from the place order panel.
Orders placed via the place order panel are load shedded.
Regards,


[Citerad text är dold]

32993:165964


Rickard  17 december 2017 13:26
Till: BitMEX_William <support@bitmex.com>

Haha.. No, as I said I tried other things in the end as the close button didn’t work.

This is such a stupid discussion. If one look at the screenshot,  it is obvious on where you are suppose to close the position, the close button at the position list.
And here I go again, IT DIDN’T WORK.
[Citerad text är dold]

Rickard 19 december 2017 08:25
Till: BitMEX_William <support@bitmex.com>

Still waiting for that proposal from you so we’ll can solve this.

Would appreciate if you would show some professionalism and take your responsibility.
[Citerad text är dold]

BitMEX_Wally <support@bitmex.com> 20 december 2017 02:53
Svara: BitMEX_Wally <support@bitmex.com>

Hi Rickard,

Here are all the Position Close requests you have made. None were rejected due to overload:

2017-12-12 20:46:28.824 prod-app4.eu-west-1.internal.bitmex.com
2017-12-12T20:46:28.823Z [21256] 187.237.231.117 (Mobile Safari 11.0, iOS) (147298 – “POST /api/v1/order {“symbol”:”XBTUSD”,”price”:25000,”ordType”:”Limit”,”execInst”:”Close”,”text”:”Position Close from www.bitmex.com”}” 200 732b – 1323.585 ms
2017-12-12 09:30:19.644 prod-app3.eu-west-1.internal.bitmex.com
2017-12-12T09:30:19.644Z [20307] 189.169.24.69 (Safari 11.0.1, Mac OS) (147298 – “POST /api/v1/order {“symbol”:”XBTUSD”,”price”:25000,”ordType”:”Limit”,”execInst”:”Close”,”text”:”Position Close from www.bitmex.com”}” 200 732b – 1678.711 ms
2017-12-12 08:25:33.132 prod-app3.eu-west-1.internal.bitmex.com
2017-12-12T08:25:33.131Z [20307] 189.169.24.69 (Safari 11.0.1, Mac OS) (147298 – “POST /api/v1/order {“symbol”:”XBTUSD”,”price”:25000,”ordType”:”Limit”,”execInst”:”Close”,”text”:”Position Close from www.bitmex.com”}” 200 733b – 92.443 ms
2017-12-12 07:42:13.821 prod-app6.eu-west-1.internal.bitmex.com
2017-12-12T07:42:13.820Z [4003] 189.169.24.69 (Safari 11.0.1, Mac OS) (147298 – “POST /api/v1/order {“symbol”:”XBTUSD”,”price”:32000,”ordType”:”Limit”,”execInst”:”Close”,”text”:”Position Close from www.bitmex.com”}” 200 732b – 2613.288 ms
2017-12-12 03:47:55.403 prod-app5.eu-west-1.internal.bitmex.com
2017-12-12T03:47:55.402Z [16777] 189.169.24.69 (Safari 11.0.1, Mac OS) (147298- “POST /api/v1/order {“symbol”:”XBTUSD”,”price”:25000,”ordType”:”Limit”,”execInst”:”Close”,”text”:”Position Close from www.bitmex.com”}” 200 732b – 353.693 ms
2017-12-12 02:27:47.008 prod-app7.eu-west-1.internal.bitmex.com
2017-12-12T02:27:47.008Z [11161] 189.169.24.69 (Safari 11.0.1, Mac OS) (147298/- “POST /api/v1/order {“symbol”:”XBTUSD”,”price”:25000,”ordType”:”Limit”,”execInst”:”Close”,”text”:”Position Close from www.bitmex.com”}” 200 732b – 588.719 ms
2017-12-11 22:40:58.003 prod-app3.eu-west-1.internal.bitmex.com
2017-12-11T22:40:58.003Z [27146] 189.169.24.69 (Safari 11.0.1, Mac OS) (147298 – “POST /api/v1/order {“symbol”:”XBTUSD”,”price”:25000,”ordType”:”Limit”,”execInst”:”Close”,”text”:”Position Close from www.bitmex.com”}” 200 731b – 132.794 ms

Before your liquidation, you tried to submit some regular Market orders using the order entry panel, the first two requests failed due to load shedding, but the third one was accepted and executed:

2017-12-13 18:28:10.672 prod-app4.eu-west-1.internal.bitmex.com
2017-12-13T18:28:10.672Z [21272] 189.169.24.69 (Safari 11.0.1, Mac OS) (147298) – “POST /api/v1/order {“ordType”:”Market”,”orderQty”:100000,”side”:”Sell”,”symbol”:”XBTUSD”,”text”:”Submission from www.bitmex.com”}” 200 733b – 4651.871 ms
2017-12-13 18:27:21.988 prod-app6.eu-west-1.internal.bitmex.com
2017-12-13T18:27:21.988Z [3990] 189.169.24.69 (Safari 11.0.1, Mac OS) (147298- “POST /api/v1/order {“ordType”:”Market”,”orderQty”:100000,”side”:”Sell”,”symbol”:”XBTUSD”,”text”:”Submission from www.bitmex.com”}” 503 102b – 12.221 ms {The system is currently overloaded. Please try again later.}
2017-12-13 18:26:34.588 prod-app6.eu-west-1.internal.bitmex.com
2017-12-13T18:26:34.588Z [4003] 189.169.24.69 (Safari 11.0.1, Mac OS) (147298 – “POST /api/v1/order {“ordType”:”Market”,”orderQty”:200000,”side”:”Sell”,”symbol”:”XBTUSD”,”text”:”Submission from www.bitmex.com”}” 503 102b – 11.158 ms {The system is currently overloaded. Please try again later.}
Wally
[Citerad text är dold]

32993:165964


Rickard 20 december 2017 10:59
Till: BitMEX_William <support@bitmex.com>
The first ones you show in the log was not even the same day :/

Well, nothing you say matters anymore. It’s not okay to just think your users will accept to loose lots of money because you have problems with your platform.

It’s bullshit to be honest.
A friend of a friend just traded btc at your site and set stop loss at entry price, it was never executed and ran into negative.
The only thing I still welcome is some reimbursement.
If you say you see that you see orders were sent via the order panel and never executed.. There you have it, you have proof right in front of you. Have a look at the orders and arrange reimbursement accordingly.
[Citerad text är dold]

BitMEX_Wally <support@bitmex.com> 21 december 2017 04:03
Svara: BitMEX_Wally <support@bitmex.com>
Till:

Hi Rickard,

I produce raw server logs that show you have been lying about using Close Position and so nothing I say matters anymore?

If you had used Close Position it would have executed. You did not. There will be no reimbursement.
Wally
[Citerad text är dold]

32993:165964


Rickard  21 december 2017 13:04
Till: BitMEX_William <support@bitmex.com>

What are you talking about, i haven’t been lying. I have talked to different persons during this conversation and I can’t tell the whole story every time.

I tried the close button several times and it wouldn’t accept it, and also tried selling positions, didn’t work either.
So all in all nothing worked.
I wouldn’t be here talking to you if something was seriously wrong with the platform.
You are presenting your so called data from your dysfunctioning platform. It doesn’t change that all the money was lost.
I’m actually starting to believe that this is the way you want the platform to work, and just blaming the user, ohh you pressed the wrong button, my god..  do you understand how ridiculously this sounds.
And also your so called marketprice, that’s also a somewhat fantastic thing you made up.
The market just accidently went down 14usd below the liquidation price for a brief second. Or perhaps it was milliseconds, that’s another thing that is scammy with all of this. No one can consider that a real marketprice, it was nothing real about it.
Over and out, you apparently have made your choice.
Rickard 5 februari 2018 23:57
Till: BitMEX_William <support@bitmex.com>
Well btc is alot cheaper now so  how about that reimbursement 🙂
[Citerad text är dold]

Rickard 13 februari 2018 18:17
Till: BitMEX_William <support@bitmex.com>

Hi!

Took a little longer than expected, but as i said earlier, i will deliver.
So here you go: http://bitmexscam.com/
Just a little tweaks and then “Hello Social Media”
My pleasure!

 

Light in the tunnel?

Well, i can shed some light to the story…

Apex Trading who helped manage my account, has insured that they will help to regain the lost btc, by setting funds aside and do what they do best.

So a big thanks to the Apex Group.

 

To take part of great analyses of crypto and other markets, i can recommend joining Apex at their free Telegram channel. For more trades and in depth analyses they have a Premium Service. Not only you get more trades, you can also take part of educational material and learn more about advanced trading, reading charts etc. I´ve joined my share of different premium services but Apex is something completely different, the material here is pure quality.

 

https://t.me/theapexgroup / https://t.me.me/theapexgroupchat

https://www.tradingview.com/u/ApeX_Trading_Group/

https://www.theapexgroup.co

 

 

Can we do something?!?!?

Bitmex shouldn`t be able to get away so easily! So pls help spread this information to warn others, Bitmex should be heavily punished for having such a disrespect of peoples hard earned money.