BREAKING!

The cryptocurrency exchange #BitForex , headquartered in Hong Kong, has suspended withdrawals for a minimum of three days, providing no explanation for the action. Just a day prior to this suspension, approximately $56 million worth of cryptocurrency was withdrawn from the exchange's wallets.

ZachXBT, an on-chain detective, reported in a post on X dated February 23 that three of BitForex's hot wallets experienced outflows totaling about $56.5 million in cryptocurrencies right before the exchange ceased transaction processing.