Cryptocurrency Exchange Will Reopen Withdrawal Transactions That Have Been Closed for 5 Months

Cryptocurrency exchange BitForex will reopen withdrawals that have been closed for months.

In an X post shared by BitForex on July 19, it was stated that deposits would be opened. First of all, the exchange stated that trading and deposit transactions will be gradually suspended, and then emphasized that withdrawals will be opened for users who have completed identity verification (KYC).

No date was given for when withdrawals would be opened.

In February this year, there was an outflow of $57 million from the stock market. Shortly after the launch, BitForex's official website was closed and users were unable to withdraw money.

It was later learned that the senior managers of the stock exchange were detained by the Chinese police.

News that BitForex held 18% of the total Tellor Tributes (TRB) supply and 7% of the ECOMI (OMI) supply caused a stir.