bitforex

ChainCatcher news, according to @mlmabc monitoring, today an ancient whale has significantly sold off BTC and gone long on ETH, with initial funding sourced from BitForex, a trading platform that has been criticized multiple times by on-chain detective ZachXBT.This ancient whale has sold 2,970 bitcoins (approximately $334 million) in the past 24 hours and purchased 50,470 ether in spot (approximately $215 million), while also going long on 135,263 ether on Hyperliquid (approximately $575 million).ChainCatcher news, according to previous reports, on February 26, 2024, BitForex's hot wallet recorded an outflow of approximately $56 million on February 23. Shortly after this outflow, user withdrawal requests encountered processing delays, and the trading platform has yet to issue any official announcements.On July 20, 2024, BitForex stated that it would reopen withdrawal services after a five-month suspension due to an investigation, but trading and deposits would remain suspended, and withdrawals would require KYC verification.

ChainCatcher news, according to DL News, BitForex has been inactive since its social media disappeared in February and approximately $57 million of user funds went missing, but it resumed activity on July 19.Subsequently, BitForex announced on July 24 that it would reopen withdrawal services later that day. Strangely, two days later, users reported that they still could not withdraw their money. In a BitForex user Telegram group with over 900 members, no one reported a successful withdrawal. Those attempting to withdraw would see a screen that seemingly tracks transaction processing by percentage, although it is not yet clear how this is being measured.According to the media, the current withdrawal amount has not exceeded 25%. For those trying to withdraw funds, the lack of communication has raised concerns about whether the inability to withdraw is due to technical issues, an excessive number of requests that may require manual approval, or whether someone else is controlling the platform and its social media channels. BitForex has not responded to the media's request for clarification.

ChainCatcher news, cryptocurrency exchange BitForex announced that its official website will go live on July 24, 2024, at 20:00 (GMT+8) and will open for withdrawal applications.It is reported that the exchange has been out of operation since February this year. Users have been unable to withdraw funds and access the website, leading to a warning from the Hong Kong Securities and Futures Commission (SFC) in March. Last weekend, BitForex stated that it will reopen withdrawal services after being out of operation for 5 months.

ChainCatcher message, BitForex posted on platform X that it has recently noticed an increasing number of fraudsters claiming they can help users withdraw assets from BitForex, reminding users not to trust them. The only way to withdraw assets is through the BitForex official website (when it reopens).

ChainCatcher news, the Hong Kong Securities and Futures Commission (SFC) has issued a public announcement warning about a virtual asset trading platform claiming to operate under the name BitForex, which is suspected of virtual asset fraud. BitForex is not licensed by the SFC and has not applied for a license to operate a virtual asset trading platform in Hong Kong. The SFC has noted that the platform has made it increasingly difficult for victims to withdraw assets from the platform in the past few days under the pretext of wallet and website maintenance. Victims have reported that the BitForex website is now closed, preventing them from accessing their accounts and withdrawing assets held on BitForex.On March 4, 2024, the Hong Kong SFC included BitForex and its website on the list of suspicious virtual asset trading platforms. The Hong Kong Police Force has taken action to block the relevant website links and remove related social media pages at the request of the SFC.

ChainCatcher news, according to on-chain detective ZachXBT's monitoring, the cryptocurrency exchange Bitforex experienced a fund outflow of approximately $56.5 million from its hot wallet on February 23. Shortly after the fund outflow, user withdrawal requests were suspended, and the exchange has not issued any official announcements to date. Currently, users are attempting to contact the Bitforex team through social media for answers.It is reported that a month ago, the CEO of Bitforex announced his resignation. Bitforex holds 18% of the TRB supply and 7% of the OMI supply.

ChainCatcher message, the first DEX PoseiSwap on Nautilus Chain will launch a new round of IEO for the governance token $POSE on Bitforex from June 23, 10:00 to June 28, 10:00 (GMT+8). On June 18, $POSE was sold through an IDO on the Bounce platform, and it has currently achieved 80% of its sales target, with a sell-out imminent.It is reported that PoseiSwap is the first DEX on Nautilus Chain, providing users with token trading, liquidity provision, liquidity mining, and staking services. It will also support related trading services for NFT assets and will feature privacy compliance characteristics. (Source link)