ZachXBT researcher suspects BitForex exchange in scam
The platform froze clients’ funds and does not respond on social networks
26.02.2024 - 13:58
223
2 min
0
What’s new? An anonymous blockchain researcher under the nickname ZachXBT has noted suspicious activity on the BitForex exchange. Thus, on February 23, $56,5 million was withdrawn from BitForex hot wallets, and soon after that, the platform stopped processing withdrawals. Since then, the company’s representatives have not commented on the situation in any way.
What else is known? Initially, the administrator of the BitForex Telegram channel stated that large transfers were carried out as part of wallet maintenance, but after that, he stopped publishing and changed his username. At the moment, users are unsuccessfully trying to get a response from BitForex on social networks.
It is noteworthy that on January 31, the CEO of the exchange Jason Luo announced his resignation from his post. “A new leadership team is poised to take the reins, and I believe they will guide BitForex towards even greater horizons <…> I have boundless confidence in BitForex's future,” Luo said in a statement.
ZachXBT noted that BitForex holds 18% of the Tellor Tributes (TRB) token offering and 7% of the ECOMI (OMI) token offering. The latter’s price fell by 8,3% overnight, according to data from the CoinGecko aggregator.
In the discussion under the investigator’s post, users noted the risks of using centralized exchanges (CEXs) that control users’ access to assets, citing a common rule in the crypto environment, “not your keys, not your coin,” referring to the need for self-storage of cryptocurrencies and wallet keys.
Late last year, Canadian crypto exchange Catalyx froze trading, depositing, and withdrawals after losing some customer assets due to a “security breach,” an employee may have been involved in the incident. Earlier, the securities regulator of the province of Alberta began investigating the activities of the exchange.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 765
BTC
+3.16%
-
Ethereum
$3 356.4
ETH
+8.41%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.37
XRP
+23.68%
-
Dogecoin
$0.394328
DOGE
+3.69%
-
Cardano
$0.872256
ADA
+11.2%
-
Bitcoin Cash
$495.65
BCH
+10.79%
-
Polkadot
$6.18
DOT
+10.34%
-
Stellar XLM
$0.280945
XLM
+16.55%
-
Litecoin
$90.18
LTC
+6.98%