Class Action Lawsuit Against Uphold?

[youngdude]

I was obviously trying to sell into today. Since Bitstamp and Binance (my usuals) were unavailable, I signed up for Uphold. I transferred a small amount of XRP into my Uphold account to test out, took about 1-3 minutes as expected per expectation on every other exchange. No pending, no processing, completed the transaction as normal. So I went ahead to sent the rest of my stack from Ledger to Uphold. BOOM, stuck in Pending/Processing. I sent it at 12:15 am, and it's still in processing even though it completed on the XRP ledger a minute or so after. The funds/XRP are in my Uphold account, but the transaction is pending, so I can't do anything with the funds. I had plans to set sell limits starting at 60c, and obviously missed out on massive gains. Insult to injury, when in pending, I can't even move it back to my Ledger or to another exchange.

I incurred IMO material loss, I know there's probably some language in the signup that prevents me from suing, but has anyone else experienced this?

[CountZerpula]

@youngdude 

 

[youngdude]

3 minutes ago, CountZerpula said:

@youngdude 

 

Thank you @CountZerpula! Can't remember whether I saw something like that posted by someone else as I was looking into it. Honestly, if they have that requirement in their sign-up page and I just agreed without reading, that's on me (I think that's probably the case). However, if they just slapped that on as a requirement on Feb 1, I have a big problem with it.

[CountZerpula]

1 minute ago, youngdude said:

Thank you @CountZerpula! Can't remember whether I saw something like that posted by someone else as I was looking into it. Honestly, if they have that requirement in their sign-up page and I just agreed without reading, that's on me (I think that's probably the case). However, if they just slapped that on as a requirement on Feb 1, I have a big problem with it.

It's nobody's favorite, that's for sure ... you're not alone in that sentiment

Tough spot for everyone to be in - you for having to sit there and wait to provide information for a compliance check, them for having to do it, and while getting crushed by increased volume and a throng of new members ... at least they remain one of a handful of options for US investors to access XRP. Hope you get sorted out quickly, but I'd expect at least a day before it gets resolved, if we're being honest. 

 

[youngdude]

Just now, CountZerpula said:

It's nobody's favorite, that's for sure ... you're not alone in that sentiment

Tough spot for everyone to be in - you for having to sit there and wait to provide information for a compliance check, them for having to do it, and while getting crushed by increased volume and a throng of new members ... at least they remain one of a handful of options for US investors to access XRP. Hope you get sorted out quickly, but I'd expect at least a day before it gets resolved, if we're being honest. 

 

Thank you. They sorted it out just after I posted this thread, but the "damage" was done.

[LordAMV]

As I understand it Bitrue is also still offering XRP trades...the list is definitely getting shorter.

[tulo]

You can trade XRP:USD on Bitstamp IOUs directly on XRPL as workaround. Also lower 0.2% fees (well depending on your volumes).

[ujeffrey]

YoungDude, I had the same thing happen to me. I was able to send some smaller quantities (under $10K USD) afterwards with no problem, but my initial "send" is STILL under review.  After today's XRP pump Nothingburger, back to the Ledger Nano my Zerps shall go!

[Daniel8]

Why on earth would you want to sell XRP!?

I only have 2 assets on the planet that I want to own right now and both are becoming "unobtanium".  

XRP & Silver.

I was even thinking of selling some silver when it goes to $500 or $1,000 an ounce (in the next few weeks) and buying a lot more XRP.  But by then I probably won't be able to get XRP.  And if I sell will i be able to get it??? WHo knows.  

$.075 is nothing!  I see XRP going to $1,000 plus.  The World Economic Forum listed XRP as a potential new currency to back up all central bank digital currencies so that ALL the money can run on the ledger.  XRP gets is value from utility of use so when all the central banks use it then it's going to go crazy.  And guess who is at the World Economic Forum this year.........Ripple.

 

[RobertHarpool]

8 hours ago, tulo said:

You can trade XRP:USD on Bitstamp IOUs directly on XRPL as workaround. Also lower 0.2% fees (well depending on your volumes).

Wouldn't the term du jour be "wrapped," not IOU?  ... or actually, since it's fiat backed, then I guess it'd be "Bitstamp's USD Stablecoin" ... (Makes me laugh how the broader crypto-sphere is just a blown up version of the old RXTP with a different lexicon). 

Edited February 2, 2021 by RobertHarpool

[Neurotoxin]

3 hours ago, Daniel8 said:

Why on earth would you want to sell XRP!?

I only have 2 assets on the planet that I want to own right now and both are becoming "unobtanium".  

XRP & Silver.

I was even thinking of selling some silver when it goes to $500 or $1,000 an ounce (in the next few weeks) and buying a lot more XRP.  But by then I probably won't be able to get XRP.  And if I sell will i be able to get it??? WHo knows.  

$.075 is nothing!  I see XRP going to $1,000 plus.  The World Economic Forum listed XRP as a potential new currency to back up all central bank digital currencies so that ALL the money can run on the ledger.  XRP gets is value from utility of use so when all the central banks use it then it's going to go crazy.  And guess who is at the World Economic Forum this year.........Ripple.

 

Obvious troll or tinfoil hat?

[Neurotoxin]

8 hours ago, tulo said:

You can trade XRP:USD on Bitstamp IOUs directly on XRPL as workaround. Also lower 0.2% fees (well depending on your volumes).

Wait, so I can sell on Bitstamp being a US resident? How does this workaround work? Is there a thread with a guide to this? Would be very much appreciated  

[SlimTim]

I started moving my zerps from Kraken to Uphold a week before they suspended trading (on the 29th).  I had never done it before so first I moved just 10. No problem. Then I moved 100, then 1000 and then 10,000. Still no problem. At 20,000 they had a problem with that!. It said pending and the next day I got the above referenced email. I emailed them back the situation and why I was moving them and within 5 minutes they approved it.

[RootSilent]

I'm in a similar boat - I literally just made a post here. The fact is, a twitter post explaining their 'problems' in no ways justifies their misexplanation of the terms of using their platform. I didn't see anywhere on their site that they could do something like this.... for a fricken deposit nonetheless (withdrawl... maybe ok)

Frankly, given they went down and locked people's funds day's in advance, I think they were offloading their own xrp in the meantime. Looking at their reddit history, this seems to have been a thing. 

Regardless, I have never ever dealt with such an unprofessional exchange. You shouldn't be waiting over 65 hours for customer support (for an issue they flagged) regardless of the 'volatility' of the market... especially if they did an 'upgrade' the day before to handle the anticipated 'volatility'.

Screw Uphold.

[RootSilent]

40 minutes ago, SlimTim said:

I started moving my zerps from Kraken to Uphold a week before they suspended trading (on the 29th).  I had never done it before so first I moved just 10. No problem. Then I moved 100, then 1000 and then 10,000. Still no problem. At 20,000 they had a problem with that!. It said pending and the next day I got the above referenced email. I emailed them back the situation and why I was moving them and within 5 minutes they approved it.

I envy you. It's been over 2 days for me. Without a response from them.

Edited February 2, 2021 by RootSilent