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Ethereum
Ethereum (ETH)
$3,038.81 -0.58737
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BNB
BNB (BNB)
$538.35 0.6193
BNB price
Solana
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$136.35 2.30598
Solana price
XRP
XRP (XRP)
$0.5001800 1.7966
XRP price
Shiba Inu
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$0.0000224 0.66054
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Pepe
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$0.0000051 -5.64205
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Bonk
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Ethereum
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$3,038.81 -0.58737
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BNB
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Solana
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$136.35 2.30598
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XRP
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$0.5001800 1.7966
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Shiba Inu
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$0.0000224 0.66054
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Pepe
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Bonk
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Bitcoin
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Ethereum
Ethereum (ETH)
$3,038.81 -0.58737
Ethereum price
BNB
BNB (BNB)
$538.35 0.6193
BNB price
Solana
Solana (SOL)
$136.35 2.30598
Solana price
XRP
XRP (XRP)
$0.5001800 1.7966
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000224 0.66054
Shiba Inu price
Pepe
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$0.0000051 -5.64205
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$0.0000146 1.1226
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Crypto exchange BitForex left customers without $55.6m in alleged exit scam

crypto-exchange-bitforex-left-customers-without-55-6m-in-alleged-exit-scam
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Crypto exchange BitForex left customers without $55.6m in alleged exit scam

Blockchain sleuth ZachXBT alarmed the crypto community about suspicious activity with the BitForex crypto exchange.

In an X post on Feb. 26, blockchain sleuth ZachXBT flagged concerning activity on the BitForex crypto exchange, alleging that the platform might have exit scammed. According to the investigator, the exchange withdrew approximately $56.5 million worth of crypto from its hot wallets on Feb. 23. Following that anomalous withdrawal, the exchange ceased withdrawals without any official explanation, ZachXBT added.

In January, BitForex underwent a change in leadership as CEO Jason Luo stepped down. While Luo expressed confidence in the new leadership team’s capabilities in a blog announcement, the circumstances surrounding his departure have fueled speculation amidst recent events.

“I believe they will guide BitForex towards even greater horizons. I will continue contributing my wisdom and strength to BitForex because this is my eternal commitment to this home.”

Jason Luo

ZachXBT noted that the exchange still holds significant portions of the TRB and OMI tokens, making the situation even more critical. ZachXBT has identified specific wallets linked to this activity, urging continued monitoring for further developments.

Established in 2018, BitForex encountered numerous user complaints, notably concerning account bans supposedly linked to KYC requirements. As of press time, the exchange has not released any public statements regarding the recent developments.

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