Why BitMex Blocked My Account and What Should I do Next?

BitMex is a popular cryptocurrency derivatives exchange that offers leveraged trading for Bitcoin and other cryptocurrencies. It is known for its unique product offerings, such as perpetual swaps and futures contracts with high leverage options. However, there are some points to consider that you should not freeze your own account by mistake, or have problems with the withdrawal of cryptocurrency.

What actions or factors can lead to the blocking of your account?

If you attempt to withdraw a substantial amount of funds after logging in from a different IP address, the exchange may become suspicious, particularly if you’re in an unusual location, such as while on a business trip or vacation and need access to funds.

In such a situation, the exchange may block the account as a precautionary measure to safeguard the client’s funds. The account could remain blocked for an unknown period until the account owner contacts the exchange to request unblocking or reports any suspicious login activity. To prevent this scenario, it is advisable to maintain a separate cold wallet with assets reserved for emergencies or similar circumstances.

If the exchange suspects that the funds you deposited were obtained illegally or if they need to comply with Anti-Money Laundering (AML) regulations, your account may be blocked. This may happen even after you’ve made a transaction and the funds have been credited to your account. In such cases, the exchange may refuse to accept the funds and block your account until the legality of the funds is verified.

Yes, to put it simply, if you made a transaction using “dirty money,” your account may be blocked in compliance with AML regulations. This is a common problem among clients and may require the help of experts to resolve.

BitMex is required to adhere to the legal obligations of the jurisdictions in which it operates. In the event that your account is suspected of violating local laws or regulations, BitMex has the authority to block your account.

If BitMex notices any unusual activity on your account, such as performing numerous unrelated transactions or exchanging significant amounts of cryptocurrencies, it may block your account to safeguard both you and other users. This is especially valid for individuals who operate multiple accounts or participate in fraudulent activities such as wash trading, which entails executing trades solely to manipulate the market and create fake trading volumes. BitMex may block accounts that are connected to such suspicious activities in order to prevent them.

How do I unlock my BitMex account?

If you believe that your BitMex account was blocked without any valid reason, you can reach out to their customer support team for assistance. They will help you understand the reason for the account block and help you resolve the issue. You can contact their support team through various channels such as email, phone, or live chat. When contacting them, be sure to provide all the necessary details and information to help them resolve the issue as quickly as possible.

If you can’t resolve the account block issue through customer support, our team of experts is ready to help you identify the reason for the block and guide you through the process of unblocking your account. You can get in touch with us either via the official telegram chat or by submitting a request on the main page starcompliance.io.

To facilitate a swift and effective resolution, it’s important to provide us with all the relevant details and documents when creating an appeal for unblocking your account.