Hotbit Crypto Exchange Suspends Trading Services Until Withdrawals
Thursday, August 11, 2022
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“It is with great regret that we inform you that Hotbit has had to suspend its trading, deposit, withdrawal and funding functions. The reactivation of all these functions has not yet been determined," said Hotbit in an official statement, Wednesday (10/8/2022) night.
Hotbit reasoned that the move was because a former employee at Hotbit's management level who previously left in April 2022 was involved in a project, which law enforcement authorities say is now suspected of violating criminal law.
“So, a number of Hotbit's senior managers have been called in by law enforcement since late July 2022 and assist with the investigation. Furthermore, law enforcement has frozen some of Hotbit's assets, which makes Hotbit unable to run normally," he said.
Even though the company's assets are frozen by law enforcement, users' assets are guaranteed to be safe while continuing to cooperate with law enforcement to investigate the case.
Hotbit has confirmed that it will resume normal service as soon as the assets are disbursed.
Based on Blockchainmedia.id archives, Hotbit claims to be one of the most popular crypto exchanges in the world, which was founded in 2018. Hotbit offers advanced features through web and mobile applications.
Hotbit partners with well-known companies in the crypto-blockchain field, such as Spark Pool, Mytoken, F2pool, HashQuark and Slow Mist. These partnerships are essential to offer traders and investors a safe, stable and feature-rich trading environment.
Hotbit provides many trade pairs of 200 cryptocurrencies, including ETF (exchange-traded fund) assets that can be traded using cryptocurrencies, with an average daily trading volume of US$100 million.
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