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I have an account with Coinberry where I bought and hold some Stellar Lumens (more than 100). I wanted to withdraw some to a cold wallet but then came across this notice “XLM withdrawals are not supported at this time.” with no further explanation! There doesn’t seem to be any issues with Lumens withdrawals on other brokerage/exchange sites and there doesn’t appear to be any type of halt by Stellar Org! I have submitted a request to Coinberry for an explanation… will update when they reply.

Follow-up… Found an explanation from Coinberry addressing delays with withdrawals and delays responding to their clients concerns but it doesn’t explain why they still have no option to withdraw Lumens!

https://blog.coinberry.com/2020/05/29/addressing-recent-speculations/ https://twitter.com/CoinberryHQ/status/1266412294831038466

Follow-up... So, after a few more attempts for an answer, Coinberry has replied with, firstly from their Customer Success representative... “XLM is 'trade-only' on Coinberry. You can withdraw any other currency via Coinberry.” Unfortunately, nowhere on their site does it state that XLM is “trade only” so that is an outright lie!

Then secondly, from their Fraud Department... “As you correctly pointed out, on the buy page, we clearly display that withdrawals with XLM are currently not supported. We have a lot of feature requests coming from our users and are developing features in order of highest demand and priority. Withdrawing XLM is on the list, and will be developed in due course, unfortunately we are not able to commit to a specific date at this point in time. If you feel uncomfortable holding XLM on the platform, you are more than welcome to convert your XLM back into CAD, or a cryptocurrency which we do support withdrawing for, and withdraw your assets from the platform. We would like to share with you that, though we fully understand your concern, post QuadrigaCX, Coinberry is the only crypto trading platform in Canada to process tax payments made in Bitcoin for a municipal government in Canada (Town of Innisfil).” Here they clearly admit that XLM is NOT “trade only”, XLM withdrawals are just "currently not supported" but they give no further explanation as to why! They then explain how withdrawals of XLM will be developed as a future feature! This actually makes no sense because withdrawals, as I understand it, are a design feature of Stellar Lumens since creation! I still have no idea why Coinberry is blocking withdrawals of XLM so I guess my next course of action will be filing a complaint with law enforcement!

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  • Do you have an update to this issue? A few months ago I started using the coinberry app myself and unknowingly purchased XML and now that I am attempting to sell I am having the same issue. App says selling is unavailable at this time even tho no warning was given before purchasing. When I went through customer service the reply I got was XLM is currently in a "soft launch" which I find a bit strange since the currency is over 2 years old and soon to be listed for a year by coinberry itself. This is very concerning and borderline fraud and theft. If you did start the legal process please let m – TERRY BURKE Feb 12 at 18:30

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