According to ChainCatcher, DL News reported that BitForex’s social media had been inactive since it disappeared in February and took away about $57 million in user funds, but resumed activity on July 19.
Subsequently, BitForex announced on July 24 that it would reopen withdrawals later that day, and strangely, two days later, users said they were still unable to withdraw their money. In a BitForex user Telegram group with more than 900 members, no one reported a successful withdrawal. Those who tried to withdraw money were shown a screen that appeared to track the transaction processing as a percentage, although it was not entirely clear how this was measured.
As far as the media can tell, withdrawals have not yet exceeded 25%. For those who have tried to withdraw their funds, the lack of communication has raised concerns about whether the inability to withdraw funds is due to technical issues, the excessive number of requests that need to be manually approved, or whether someone else has taken control of the platform and its social media channels. BitForex did not respond to the media's request for explanation.
