BitForex Archives - Coin Engineer https://coinengineer.net/blog/tag/bitforex/ Btc, Coins, Pre-Sale, DeFi, NFT Sat, 20 Jul 2024 11:21:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png BitForex Archives - Coin Engineer https://coinengineer.net/blog/tag/bitforex/ 32 32 Crypto Exchange BitForex to Resume Withdrawals After 5-Month Hiatus https://coinengineer.net/blog/crypto-exchange-bitforex-to-resume-withdrawals-after-5-month-hiatus/ https://coinengineer.net/blog/crypto-exchange-bitforex-to-resume-withdrawals-after-5-month-hiatus/#respond Sat, 20 Jul 2024 16:00:22 +0000 https://coinengineer.io/?p=25504 BitForex, a cryptocurrency exchange, has announced it will resume user withdrawals after a five-month halt. The exchange had ceased operations due to a police probe in Jiangsu Province, China, and a major $57M outflow on February 23. BitForex stated that withdrawals will be reopened for verified users. The exchange will first reopen deposits and trading,

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]]> BitForex, a cryptocurrency exchange, has announced it will resume user withdrawals after a five-month halt. The exchange had ceased operations due to a police probe in Jiangsu Province, China, and a major $57M outflow on February 23.

BitForex stated that withdrawals will be reopened for verified users. The exchange will first reopen deposits and trading, followed by a gradual rollout of withdrawals for KYC-verified users.

The exact date for the resumption of withdrawals has not been announced.

In February of this year, the exchange experienced a mass exodus [geçersiz URL kaldırıldı] of $57 million. Shortly after the outflow, BitForex’s official website went down, and users were unable to withdraw funds.

It was later learned that the exchange’s top executives had been detained by Chinese police.

News that BitForex held 18% of the total Tellor Tributes (TRB) supply and 7% of the ECOMI (OMI) supply added to the turmoil.

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The post Crypto Exchange BitForex to Resume Withdrawals After 5-Month Hiatus appeared first on Coin Engineer.

]]> https://coinengineer.net/blog/crypto-exchange-bitforex-to-resume-withdrawals-after-5-month-hiatus/feed/ 0 BitForex Stops Operations: 56 Million Dollar Outflow Occurred https://coinengineer.net/blog/bitforex-stops-operations-56-million-dollar-outflow-occurred/ https://coinengineer.net/blog/bitforex-stops-operations-56-million-dollar-outflow-occurred/#respond Tue, 27 Feb 2024 12:31:36 +0000 https://coinengineer.io/blog/?p=13574 BitForex, a cryptocurrency exchange, faced accusations of fraud after it suddenly halted all withdrawal functions following a suspicious $56 million crypto outflow. Among the leading cryptocurrency exchanges, BitForex abruptly stopped all withdrawal operations and refrained from explaining the reasons for this sudden movement to its users. This decision coincided with the identification of a surprising

The post BitForex Stops Operations: 56 Million Dollar Outflow Occurred appeared first on Coin Engineer.

]]> BitForex, a cryptocurrency exchange, faced accusations of fraud after it suddenly halted all withdrawal functions following a suspicious $56 million crypto outflow.

Among the leading cryptocurrency exchanges, BitForex abruptly stopped all withdrawal operations and refrained from explaining the reasons for this sudden movement to its users. This decision coincided with the identification of a surprising $56 million crypto outflow from BitForex’s hot wallets.

In addition to growing concern, BitForex did not make any official statement about the situation. Users reported various problems while trying to access their accounts or the company’s website.

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In light of these developments, chain above detective ZachXBT conducted a comprehensive analysis to reveal important findings related to the outflows from BitForex’s hot wallets.

The cryptocurrency community quickly reacted to the developing situation at BitForex and many people expressed deep concern and skepticism about the exchange’s actions.

Users still cannot withdraw their cryptocurrency assets from BitForex. The exchange’s official X account last shared on 21 February. No messages could be sent to BitForex’s official Telegram channel since February 24th. Access to the official website named “bitforex.com” is currently also unavailable. The community suspects the exchange disappeared after defrauding its investors.

Last year, Japanese officials warned investors to be cautious, stating that BitForex was operating without a license.

The post BitForex Stops Operations: 56 Million Dollar Outflow Occurred appeared first on Coin Engineer.

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