Crypto Exchange BitForex Halts Withdrawals
Main page News, Cryptocurrency Exchanges

BitForex, a Hong Kong-based crypto exchange, has temporarily suspended all withdrawals without explanation.

This halt comes after approximately $56 million worth of cryptocurrencies were withdrawn from the platform's hot wallets in a single day.

According to researcher ZachXBT, three of BitForex's asset wallets experienced significant outflows before the platform's transaction processing was halted.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

The exchange's X-account has not been updated since May 2023. BitForex users on the official Telegram channel have reported a number of issues, including being unable to access their accounts and the dashboard not showing any assets.

Some users have also shared screenshots indicating they have been blocked from accessing the company's website.

Read also:
Please describe the error