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Sudden Outflow and Unanswered Inquiries
- Hong Kong-based crypto exchange BitForex has halted withdrawals on its platform.
- On-chain investigator ZachXBT reported suspicious activity on February 23rd.
- Over $56 million left BitForex’s hot wallets, prompting withdrawal suspension.
- BitForex officials have not responded to user inquiries on X and Telegram.
- The exchange’s CEO resigned last month, adding to the uncertainty.
Altcoin Holdings and Token Utility
- BitForex holds a significant portion of two altcoins: Tellor Tributes (TRB) and ECOMI (OMI).
- TRB, a decentralized oracle, facilitates data fetching and on-chain placement for smart contracts.
- OMI serves as the native utility token on the VeVe digital collectible platform.
Awaiting Official Statement
- BitForex has yet to address the claims and provide an explanation.
- FastPayCrypto advises investors to conduct thorough research before engaging in high-risk crypto investments.
Disclaimer
- Opinions expressed by FastPayCrypto are not investment advice.
- Investors should exercise caution and due diligence before making any cryptocurrency investments.
- FastPayCrypto does not endorse the buying or selling of any cryptocurrencies or digital assets.
- FastPayCrypto participates in affiliate marketing.
