Bitforex opens for withdrawal after police investigation.
Cryptocurrency exchange Bitforex reported that after the police investigated the members of the group, the users will be able to withdraw money for the first time in five months.
In a July 19 X post, Bitforex said that police in China's Jiangsu province “arrested and investigated” the group on February 23, making the platform inaccessible to users. The exchange did not provide details of any criminal investigation, but indicated that the situation had been resolved “after sustained efforts and communication.”
According to Bitforex, users will be able to withdraw their assets from the platform “soon”, but will not be able to buy or sell tokens. In the year Bitforex has not made any posts for X since February 20th.
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In March, Hong Kong's securities regulator warned residents that Bitforex was a “dubious” crypto platform. The lack of communication has led to threatening lawsuits against Bitforex, projects such as memecoin CatCoin.
Former BitForx CEO Jason Luo resigned in January, a few weeks before the platform ceased to exist. In the year On July 19, he posted a similar message on his X account regarding the police investigation.
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