BitForex, a cryptocurrency exchange, has come under scrutiny after approximately $56.5M was withdrawn from its hot wallets on February 23, 2024. Following these withdrawals, the exchange ceased processing further withdrawals and has not issued any official statements or explanations regarding the incident. The lack of communication has raised suspicions among users and observers alike. Subsequently, BitForex's website became inaccessible, leading to speculations of an exit scam. Investigations and reports from various sources, including ZachXBT and CoinDesk, have highlighted the situation, with users left in the dark about their funds.
Exit scam? Customers of Bitcoin exchange BitForex have been left confused and unable to access their funds after nearly $57 million worth of crypto was mysteriously withdrawn. Click to read: https://t.co/KSIO6nM7Yv
ICYMI: BitForex website blocks users after apparent $57 million hot wallet withdrawals https://t.co/fPZTJW58DN
Exit Scam? Bitcoin Exchange BitForex Shutters After $57M Mysteriously Withdrawn ► https://t.co/se8KvUTpL8 https://t.co/se8KvUTpL8
BitForex shuts off website after $57 million withdrawal February 26, 2024 https://t.co/NakU1cANAY https://t.co/I1Kf9FTh2H
.@bitforexcom's website has gone dark, with @ZachXBT reporting that the exchange dealt with $57M worth of outflows on Feb. 23. Withdrawals have not been processed since then. Reporting by @oknightcrypto. https://t.co/j5SCxxdUo2
JUST IN: SUSPICIOUS ACTIVITY ON @BITFOREXCOM EXCHANGE; $57 MILLION OUTFLOWS AND WITHDRAWALS STOPPED WITH NO EXPLANATION ~ @ZACHXBT
Seeing some suspicious activity with the crypto exchange @bitforexcom. On Feb 23 their hot wallets saw outflows of ~$56.5M. Shortly after this time withdrawals stopped processing with no official announcements having been made since. Currently users are asking questions on… https://t.co/gFEcwExHKh