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While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n

The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Illegal Operations in Japan<\/h2>\n\n\n\n

While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n

The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n

Illegal Operations in Japan<\/h2>\n\n\n\n

While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n

The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
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The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n

Illegal Operations in Japan<\/h2>\n\n\n\n

While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n

The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n

The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n

Illegal Operations in Japan<\/h2>\n\n\n\n

While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n

The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n

The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n

The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n

Illegal Operations in Japan<\/h2>\n\n\n\n

While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n

The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
  • BitForex has been under regulatory pressure in Japan and faces claims of fake trading volumes.<\/li>\n<\/ul>\n\n\n\n

    Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n

    The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n

    The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n

    See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n

    Illegal Operations in Japan<\/h2>\n\n\n\n

    While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n

    The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

    Twitter Instagram Youtube LinkedIn Facebook RSS
    ADVERTISEMENT
    \n
  • The halt occurs after token withdrawals and the CEO's resignation in January.<\/li>\n\n\n\n
  • BitForex has been under regulatory pressure in Japan and faces claims of fake trading volumes.<\/li>\n<\/ul>\n\n\n\n

    Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n

    The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n

    The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n

    See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n

    Illegal Operations in Japan<\/h2>\n\n\n\n

    While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n

    The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

    Twitter Instagram Youtube LinkedIn Facebook RSS
    ADVERTISEMENT
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