Handwrap

Handwraps have been introduced with module 7, in order to enhance Monks' unarmed attacks.

Since base damage of monks' unarmed attacks vary from their class level, handwraps are not programmed like other weapons are. This caused handwraps suffered by many bugs. Handwrap bugs have been criticized as one of the biggest reasons that is making monk class under-powered.

Missing properties
Handwraps with following properties don't exist. It is unclear whether it is intentional or not. Handwraps are considered as Bludgeoning weapons, so properties that cannot be found on bludgeoning weapons, such as Vorpal, Wounding and Puncturing, cannot be found on handwraps. This is not a bug.
 * Pure Good suffix
 * Righteousness suffix
 * Impact prefix
 * Transmuting prefix

Bugged properties
Following properties on Handwraps are broken.
 * Weakening prefix
 * Weighted suffix - doesn't increase Stunning Blow and Stunning Fist DC's
 * Axiomatic and Anarchic prefix - adds alignment damage properly, dosen't give negative level penalty to wearer of opposite alignment

Non-weapon based enhancemnts

 * Ghost Touch handwraps have been fixed, but Ghost Touch enhancements form other items (such as Etherial Bracers, Spectral Gloves and Tharne's Wrath set) still don't apply on handwraps.
 * Similarly, Destruction enhancements form Breastplate of Destruction and Dragonrouched Robes don't apply on handwraps, but developer Eladrin stated that it is intentional.

Greensteel-Weave Handwraps
Devs stated that there will NOT be Greensteel Handwraps implemented, at least in near future. 

It is unclear if it's simply because of such bugs or because they think monks with Greensteel Handwaps are over-powered and break game balance.