Nigerian crypto exchange, Bitmama has suspended its deposit feature on its app. In a statement sent to Technext, the company’s spokesperson disclosed that the temporary suspension was meant to protect users from possible losses and delays as it is experiencing delays owing to third-party provider maintenance activities.
Notably, customers of the Nigerian crypto exchange complained on social media about the inability to deposit funds into their Bitmama wallet for some weeks. According to the company, the deposit information has been relayed to the customers as the company continues to work on resolving the issue.
It also indicated that the company is working assiduously to ensure that the technical glitch is promptly resolved. “Bitmama has allocated additional technical resources to expedite the resolution process. We are focused on addressing any challenges related to delayed deposits and are committed to providing regular updates”, the statement reads.
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Bitmama users complain of deposit problems
A handful of Bitmama customers who spoke to Technext said they were debited from their source accounts but the funds did not reflect in their Bitmama wallet. And, when they complained to the Bitmama customer support team, they admitted that it had technical issues and assured them of prompt resolution.
According to a user, who doesn’t want to be mentioned, Bitmama has been having issues with NGN deposits since at least the 25th of November. But the problem, according to the user, is that the crypto company has continued to accept deposits.
“Yet Bitmama continued to accept deposits without informing customers the feature was down. I spoke to Customer Support after my deposit wasn’t funded to my account and the excuses they gave had me worried immediately. First, they said the payment processor had issues, then banking partners were down, etc.”
Bitmama continued to enable deposits into its platform even though there were issues until last Thursday when the company sent deposit suspension notices to customers. However, it has not provided an update on when the issue will be resolved for this customer.
Another user who had a conversation with us last week said she referred her husband to the platform.
“The very first deposit he made 3 days ago, #94,900, his wallet was not credited. He contacted customer support and they have been dribbling him since. I also contacted them, same story …..” we are working on it”. He was not credited up till now and no definite time was given. Only for one of their customer support to tell me this evening that they will try to resolve it within one month.”
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No customers fund trapped- Bitmama says
Responding to these allegations, the company’s Marketing Lead, Thelma Okonwa said no funds were stuck in the system. According to her, Bitmama, like any regular financial institution, works with infrastructure providers and partners.
“Deposits may experience delays from these third parties. This is beyond our control. However, we process them promptly upon receipt. Please note that Bitmama has temporarily suspended new deposits to focus on resolving deposit challenges owing to currently ongoing provider maintenance. And this has been communicated to customers,” she said.
Bitmama said it is focused on addressing any challenges related to delayed deposits and is committed to providing regular updates.
The company said that while it continues to work on its communications and notifications processes and standards, it has allocated additional technical resources to expedite the resolution process.
Albeit ensuring users’ transaction safety, the company did not provide an exact timeline for resolution, per the statement sent to us.
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