In most instances, a withdrawal hold is triggered after making specific security setting changes to your account. This helps protect your funds in the event your account were to be compromised and an attacker is attempting to steal your funds.
For instance, if your email account were to be hacked, the attacker may attempt to execute a password reset for your Bitfinex account. Because the attacker would be able to confirm the password reset via the link sent via email, if no hold were to be triggered, the attacker would be able to steal the funds moments after executing the password reset.
The five-day hold period will allow the legitimate account owner to detect the security breach and alert Bitfinex.
The most common triggers of a withdrawal hold are:
- Password resets
- Unlocking a locked withdrawal address or changing an existing address
- Requesting a security change through support (2FA reset / email address change / IP whitelisting change)
During a withdrawal hold, no withdrawals can be processed. If you submit a withdrawal it will be cancelled.
Account-holders that are KYC verified (intermediate level or higher) can request to have the withdrawal hold lifted before the five days will have passed. In this case, ID verification image will need to be submitted on https://www.bitfinex.com/verification. You must upload a high-resolution picture of you holding the passport or Photo ID you submitted during the verification of your account. In addition, have a reference to Bitfinex and the current date displayed in the picture - a note with the word "Bitfinex", the requested action: “Lift withdrawal hold”, the current date along with your signature. Make sure your face is clearly visible and that all passport/photo ID details are clearly readable.
Submit a support ticket after you have uploaded the ID verification image with a subject "request to lift withdrawal hold".
Upon verifying your identity the withdrawal hold will be lifted as soon as possible.
Users that are not KYC intermediate and above verified cannot have the five-day withdrawal hold lifted before the five days have passed.