BitForex Withdrawal Applications Open on July 25th: Funds Recovery Update

IconCryptoNewsTerminal Staff23 Jul, 2024

cryptonews.jpg

BitForex Withdrawal Applications Open on July 25th: Funds Recovery Update

BitForex, the Singapore-based cryptocurrency exchange that has been offline for the past five months, has announced that withdrawal applications will be available from 5 pm (Korean time) on July 25th. BitForex had previously disappeared in February after nearly $57 million worth of users' deposits were stolen from its hot wallet. The exchange's website has been down since then, and the exchange team was detained and investigated by Chinese police in late February. It was previously reported by Coindesk that BitForex would discontinue operations after it had finished returning user funds. However, the latest announcement from the exchange suggests that it may be able to resume operations after all. The news of BitForex's impending return is likely to be welcomed by many of its users, who have been eagerly awaiting the opportunity to withdraw their funds. However, it is important to note that the exchange has not yet provided a timeline for when withdrawals will be processed.

Related News