Petition for BitGrail.com Exchange to Roll Back Unfair Withdrawal Policy
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Members of RaiBlocks SubReddit (Community) VS. BitGrail Exchange
[ Official Website: https://www.BitGrail.com ]
[ RaiBlocks SR: https://www.Reddit.com/r/RaiBlocks ]
Our Complaint(s): BitGrail's unscrupulous change in policy that has harmed its most loyal consumers / exchange user-base and reduced the ability to access (or immediately control the profits of) the funds legally owned by these users.
Our Demand(s): Roll Back this unfair Withdrawal Policy, which has negatively affected thousands of BitGrail users today, and give these users immediate access to the funds that they purchased and rightfully own, WITHOUT further delay. In other words: Do the right thing. The only fair thing left to do.
As of Wednesday, January 24th, 2018 -- BitGrail Exchange, one of the Top 3 exchanges for RaiBlocks (XRB) crypto-currency, has decided to remove the ability for unverified users to withdraw any funds from their accounts. This has especially harmed RaiBlocks (XRB) holders, who originally signed up for their BitGrail accounts under an agreement stating that they would be able to trade, sell, purchase, and withdraw funds from their accounts, up to 0.5 BTC (Bitcoin) per day as an "unverified user," per BitGrail's original Terms of Service agreement. Many of these users have transferred business and/or personal funds into BitGrail, believing that their funds would not only be be safe, but immediately accessible during normal network conditions, so that they may conduct trades to their own advantage in the marketplace.
The sudden decision to strip thousands of BitGrail users of such an essential trade function, with little-to-no advance notice (not even a single email) and zero ability for these users to access their funds without an overly burdensome waiting period, has caused much panic and controversy in the crypto marketplace. Not only does this decision lack proper timing, but it also lacks any type of business ethics.
If BitGrail is to save itself from a sure "fall from grace" and possible collapse in the near future, then it must start by doing the right thing TODAY, not tomorrow. Give every single one of the affected users (*Accounts created prior to the policy change*) a 24-hour grace period to access their funds, so that they may have control over their profits in a highly volatile market, where time is absolutely of the essence. Do not punish these people for trusting your exchange -- Instead, reward them.
Anything less would be both unethical and immoral... and once a business becomes branded in such a way, there is very little chance of recovery. The crypto-community certainly forgives... but we never forget.
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