\n
The exchange's message stated: \"On February 23, 2024, the BitForex team was detained and investigated by the Jiangsu Province police in China. This unexpected event caused the platform to become inaccessible, and users were unable to withdraw assets on that day.\" <\/em>After facilitating the return of assets to users, the Hong Kong-based cryptocurrency exchange plans to cease all operations and undergo a \"comprehensive rectification.\"<\/em><\/p>\n\n\n\n In May, The Distributed reported that BitForex's users were experiencing withdrawal issues. The exchange did not provide a reason for suspending withdrawals, which occurred after the crypto exchange's wallets experienced outflows estimated at $56.5 million. This incident came after Jason Luo stepped down as BitForex CEO after dedicating six years to the company.<\/p>\n","post_title":"Crypto Exchange BitForex To Resume Withdrawals After Police Probe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchange-bitforex-to-resume-withdrawals-after-police-probe","to_ping":"","pinged":"","post_modified":"2024-07-23 21:39:51","post_modified_gmt":"2024-07-23 11:39:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17890","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"};
