How you know?

Yes, would prefer to withdraw money but it seems we can't withdraw from Luno to any banks due to the issue.

may i know how come BTC price at Luno so much different with Remitano

Bump....haiz, think u can read from previous post. A bit boring explain again and again. Anyway, I just transferred all small remaining btc from luno to binance. Now luno is empty shell. Good bye luno..

Is it confirmed that next week, we can transfer cash back to our bank account?

There isn't an official notification from Luno yet. Guess it's pure speculation.

That guy must be from Luno Malaysia.

what happen if still cannot withdraw? High chance to prevent people from leaving. It must be hurt when all move out.
anyway, let see if can withdraw. No harm waiting

The high price or i usually i referred it as conversion rate from USD to RM is really high for Luno. 2 months ago it used to be 4.23 and now 5.7 or sometime 6.3. Although Luno said they can not control the exchange price, it is based on willing buyer and willing seller which i said is totally bullshit. The high price is to make sure their customers remain in Luno and not to transfer their coins out of Luno due to deposit and withdrawal issues.

I am not too agree of no harm waiting. To me it is 50%-50% because today we can not deposit and withdraw the money but we still can send and receive coins. I may think too much but how about if the issue can not be solved and Luno Malaysia totally shutdown ? By that time, we can't even send and receive coins. Sorry, i really think of very worst case here and i am also stuck in Luno now. Big amount!

so the troublemaker now is luno or IRB?

If it is Luno, then we got scammed hard......!!

if it is IRB, care that it is the rakyat that is suffering here.... simply suspend account

This post has been edited by NCSHyundai: Feb 19 2018, 11:25 PM

Is it possible that Luno price is south africa and nigeria's bitcoin price ? Do we share the same luno exchange with them ? As I know luno do operate in other countries

Frankly speaking, i don't know! I only know Luno price is ridiculous now, who want to buy at such high price? I really don't understand why got such buyers. If sellers, i fully understand as they want to maximize profit but again, how to cash out now is the question!

no. each work independence...remember that luno is BTC/MYR. So this only apply to MY. Same goes to different country.
price up or down , depend on buyer/seller.

Looking at the volumes on Luno, my guess is they want to keep Luno traders locked in so there is no flight of coins. The exchange probably controls about 80-90% of the volume which explains the price being kept higher than the BTC actual value. if you keep an eye on the buy and sell walls, you can see they're banding it in the 70k range and it seems deliberate. Otherwise we'd have seen the drop like the rest of the world. Now, it may be a matter of 'protecting' Luno traders from panicking and losing out 30% or more, or it may be a matter of keeping them 'locked in'. What it does mean for investors is loss of confidence no matter what they're doing. There was a very simple workaround to all this but they seem like cowboys who jumped in with guns a-blazin and now the traders are left in the lurch. I'd say crypto trading is officially dead in Malaysia for now, except for the P2P platforms which I have very little trust to deal with. Can some vets suggest how one may trade through singapore?

Sellers sure - but i think many figured out that selling doesn't equal withdrawals. in fact, if you see their app -> wallet, if you've sold recently, it shows "MYR balance" with the total amount but "available funds" are what you had before this issue surfaced. No explanation offered about the difference between "available" funds and "balance".

c'mon Luno. if you cannot be transparent about people's wallets - how do you ever expect people to trust you?

I'm also in the same boat but maybe its time to bite the bullet and vote with our feet. if all (bonafide) traders transfer coins out, then Luno feels the consequence. Otherwise they can let this fester for months and hold our cash ransom. I strongly believe the price and volumes on the exchange are (now) being manipulated.

EDIT: typo (fest=fester)

This post has been edited by dirkgently75: Jan 22 2018, 12:05 AM

You can always find other exchanges that support Malaysia if u dig hard enough, and I can even sell at remitano with a profit around 20-25%

i prefer the p2p exchanges compared to centralized exchanges like luno

I'd agree with you on anonymity and ease. but i found sellers and buyers on local bit coin implementing bank like KYC!!!??? WTF? its none of their business! and on the other hand, scams galore "come meet me in a dark alley with a wad of cash" - seriously?

how about buy? and what guidance would you have on the amounts? I'd say anything about 5k onwards is risky.