Bittrex Silently Re-opens STEEM Wallet

in hive-126009 •  29 days ago  (edited)

We all know that just before the Steem Hardfork 0.23 on 20th May, 2020' Bittrex had voluntarily chosen to close deposits & withdrawals for STEEM & SBD wallets on its Exchange. It stated the reason as:

The proposed hard fork is considered a contentious hard fork as it transfers the funds of 64 user accounts to a STEEM account named "community321".

According to Bittrex's statement at the time of closing wallets, it said,

"We will monitor the proposed hard fork and take into account any further developments before deciding on further action."

Now it seems that over 3 weeks of monitoring of Steem chain after the "contentious" Hardfork, Bittrex is "satisfied" with the state of affairs on Steem blockchain and has decided to resume Steem & SBD wallets.

But we didn't see any official statement on it so far. It was just casually informed a couple of days back, in a reply to a tweet by a complaining customer that wallet is reopened now:

Steem/SBD wallet is reopened now.

— Bittrex (@BittrexExchange) June 12, 2020

But we can all interpret and understand the intentions of Bittrex as encapsulated in its earlier statement as:

We believe in the sanctity of blockchain, and as an industry, we need to adhere to the consensus rules of the blockchain without interjecting whatever our personal opinions might be. If we want blockchain to succeed, we must live by the rules of the blockchain.

It makes sense to open the wallets for them as that was the case across the whole industry and every other player had a functioning wallet. So why not them?

Well, now it is, at Bittrex!


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What happened to the funds that were deposited from "community321" account? Is there any statement about that?

  ·  29 days ago (edited)

Still waiting to hear something on it. No word on it as of now.
But I think it will take a lot of time to sort that out.

What is behind leaving the wallets locked, if nothing has been resolved as you say, because it would have been, what do you think?

Yes I agree. Ideally that should have been the way. But perhaps Bittrex's perspective is quite different. Else what monitoring did they imply with

monitor the proposed hard fork

What do you think was avoided by closing the deposits and withdrawals for so long? Do you think it was just monitoring the chain or is it just what they say?

I really don't know what was behind their thinking . That's what I meant to say, what kind of monitoring for 3 weeks made them satisfied and confident to upgrade their nodes and reinstate the wallets ... I was actually trying to be sarcastic.