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today I withdraw 1 BTC from my account at Gatecoin exchange to be sent to CEX exchange. I got the BTC address from CEX and created the withdraw address for my withdrawal. I proceed with it and it took 30 min approx to be confirmed by Gatecoin and then waited 1,2,3 hours and nothing was arriving in CEX. I got worried and checked the Gatecoin link for blockchain transaction and for my surprise NO Transaction was registered there!!

OMG! went back again and again to both exchanges to see whether the BTC was back, but not at all. My BTC is gone and disappeared. No trace in both accounts Gatecoin and CEX. For the worse, not even the Blockchain has a record of it? Seems vanished. Gatecoin confirmed the withdrawal after 30 min. and once open the transaction link, nothing was found in the Blockchain!

How can this happen? Is Gatecoin responsible or CEX? Anyone having similar experiences and would like how to resolve them?

The terrible scenario is that both Support Departments don't answer any query as they are overloaded with the great demand from new clients.

I have already reported to both exchanges but now how long and how this is going to be solved?

I will appreciate some feedback from you guys. Thanks in advance.

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  • Do you still have the transaction id/link?
    – Chak
    Jan 5, 2018 at 22:14
  • Yes of course. But when open the link, the Blockchain: Transaction NOT found!! This is what has put me in alert, as CEX requested the blockchain link to find out what happened... in my opinion, Gatecoin system is the responsible for not performing the transaction properly, right? As it is impossible to get any quick feedback from Support, I am sitting here like a duck wondering where is my BTC? It's really unbeliavable!
    – Luis
    Jan 7, 2018 at 4:37
  • It is possible that your transaction was sent with a lower than average fee or Gatecoin had some broadcasting issue, therefore the transaction hasn't been picked up by certain nodes mempool yet. If you provide the txid we can further determine the cause.
    – Chak
    Jan 7, 2018 at 11:13
  • Sorry for late come back...well, after more than 60 hours waiting for the transaction to happen....finally the BTC arrived at CEX and was credited to my account. What really scared me was that no trace of the transaction in blockchain...what Support mentioned wrote me later, was that due to high traffic and demand the blockchain delayed the transaction....BTW, how this supposedly new technology claiming to outperform the banking systems in speed, costs, and transparency, seems completely the opposite? Costs are increasing and also the time delays....
    – Luis
    Jan 24, 2018 at 5:02
  • @Luis The network knows of a transaction as soon as it is broadcast, it can be looked up on sites like blockchain.info and it just shows up as unconfirmed. It sounds like they just gave you a bad transaction link! Or, the actual delay may have been in broadcasting the transaction but, I can only speculate here. It was likely one of the two.
    – Willtech
    Feb 5, 2018 at 10:45

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Without your tx id it is hard to tell what exactly happened but usually you don't need to be worried. Your described scenario sounds like a "miner fee too low" issue, the transaction gets broadcasted successfully, thus Gatecoin or any other exchange believe the funds are out of their system, but then got pushed out from the mempool because other transactions have a higher fee. Such issue usually fixes itself once the fees on the network/mempool go lower. The transaction will be automatically re-broadcasted by the bitcoin node of the exchange and then gets included in a block and you get your coins on the receiving address.

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1
  • Sorry for late come back...well, after more than 60 hours waiting for the transaction to happen....finally the BTC arrived at CEX and was credited to my account. What really scared me was that no trace of the transaction in blockchain...what Support mentioned wrote me later, was that due to high traffic and demand the blockchain delayed the transaction....BTW, how this supposedly new technology claiming to outperform the banking systems in speed, costs, and transparency, seems completely the opposite? Costs are increasing and also the time delays....
    – Luis
    Jan 24, 2018 at 5:03

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