BitForex

BitForex is a cryptocurrency exchange that was recently impacted by a significant disruption involving the detainment of its core team and some employees by the Jiangsu Provincial Police on February 23, 2024. Following this incident, the platform was forced to shut down, resulting in the temporary inaccessibility of its website and halting user withdrawals. Users were not notified promptly due to the sensitive nature of the situation, leading to considerable confusion and distress among the community. The exchange sincerely apologized for the inconvenience its users experienced during this time.

As part of its recovery efforts, BitForex has announced the reopening of withdrawals on July 24, 2024 (UTC). During the interim period, key trading functions are suspended, new registrations are halted, and asset deposits are not permitted. The platform will also undergo comprehensive rectifications, resulting in the cessation of all services and products. To facilitate the withdrawal process, users will be required to undergo a Know Your Customer (KYC) verification process, ensuring identity confirmation before assets can be transferred to personal wallets.

BitForex is actively working to resolve issues surrounding accounts affected by asset freezes on third-party platforms, such as OKX. The exchange has committed to batch processing withdrawals to meet high demand and expedite the transfer of users’ assets. While the situation continues to evolve, the BitForex team remains focused on ensuring the safety of user assets and providing necessary support to customers through their official email. This commitment reflects an ongoing dedication to rebuilding trust within the cryptocurrency community.