Post
Topic
Board Announcements (Altcoins)
Merits 1 from 1 user
Re: XEL - The Codable Decentralized Supercomputer - XEL.ORG
by
drays
on 22/02/2021, 22:33:50 UTC
⭐ Merited by josegines (1)
Have you seen that the Bittrex wallet still has more than 39 MM XEL, and that almost every day there are transfers, despite the fact that the withdrawal period ended 2 months ago?

https://explorer.xel.org/address/XEL-AQVJ-PPCK-QJYJ-8T65V/

As far as I understand, the XEL wallet is not removed from Bittrex, and there was no withdrawal period announced. They only removed the market, but kept the wallet open until further notice. Typically they send notifications when removing any coin's wallet. I did not get any such notification regarding the XEL wallet yet.

Thank you very much for the clarification.
In the notice that bittrex made on the occasion of the exit of XEL and others, they indicated that there was a month or less to withdraw.

https://bittrexglobal.zendesk.com/hc/en-us/articles/360017409679-Pending-Market-Removals-11-20-2020

Is it normal for Bittrex to keep the XEL wallet? does it with others? I think that if an exchange makes this decision, I do not understand that it maintains this support longer than usual.

Yes, indeed, there is a withdrawal warning in the "Token Withdrawal After Delisting" of the announcement you referred too. And formally Bittrex can remove the wallet at any moment, and refer all annoyed customers to that warning... But practically I have noticed that they try to be more polite, and provide customers with appropriate wallet removal email warnings - sometimes 2-3 times before actually removing wallet. Probably they try to avoid unnecessary complications, which will surely arise if they don't provide enough warnings before removing the wallet (as this could bring to a loss of funds, which belong to a customer).

Not only XEL wallet is still online. I have another coin in the same list, which still have active wallet on Bittrex, despite market being delisted for few months already. As to the reasons of this behavior from Bittrex, I can think of many reasons, but I have no idea whether any of them is correct Smiley