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Bitmama Halts Deposits Amid Customer Complaints

The prominent Nigerian cryptocurrency exchange Bitmama has taken a significant step by suspending its deposit feature for users

By Anna B Kiwanuka

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The prominent Nigerian cryptocurrency exchange Bitmama has taken a significant step by suspending its deposit feature for users. Thelma Okonwa, the marketing lead, conveyed in a statement to Technext that this move aims to address ongoing challenges related to deposits, attributed to ongoing provider maintenance.

Reports surfaced regarding Bitmama customers encountering difficulties in depositing funds into their Bitmama wallets for over three weeks. The company has now officially communicated this information to its users, emphasizing its commitment to resolving the issue while allocating additional technical resources to expedite the process.

A few Bitmama customers shared their experiences, expressing concerns about being debited from their source accounts without the corresponding funds reflected in their Bitmama wallets. Despite reaching out to customer support, they received acknowledgments of technical issues and assurances of prompt resolution.

One user, preferring anonymity, highlighted ongoing issues with NGN deposits dating back to at least November 25th. They raised concerns about Bitmama’s continued acceptance of deposits without informing users of the underlying feature outage. Allegedly, customer support cited various reasons for the delay, from payment processor issues to banking partner downtime.

Bitmama had been allowing deposits despite these issues until recently issuing deposit suspension notices to customers. However, a specific timeline for resolving the problem remains undisclosed.

Another user reported a similar incident where their husband’s deposit did not reflect in their wallet, despite contacting customer support multiple times. The frustration mounted as assurances of resolution lacked a definite timeline, with one support representative suggesting it might take up to a month.

Addressing these complaints, Bitmama’s Marketing Lead clarified that no funds were trapped in the system. She attributed potential delays to third-party infrastructure providers and partners, emphasizing their commitment to promptly processing deposits. The company communicated the temporary suspension of new deposits to focus on resolving challenges stemming from ongoing provider maintenance.

Bitmama assured users of its dedication to tackling issues related to delayed deposits, emphasizing enhanced communication and the allocation of additional technical resources for quicker resolutions. However, they did not specify a precise timeline for resolution in the statement provided.

This incident at Bitmama adds to the turbulence in the African cryptocurrency space. Several startups offering crypto services have faced hardships due to market fluctuations, FTX crashes, and macroeconomic challenges, leading to closures and layoffs. The recent Patricia controversy and now the Bitmama issue have raised concerns among users and observers. Bitmama had recently made headlines with the acquisition of Payday, prompting hope for swift resolution of the deposit problem.


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