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Crypto Exchange BitCoke Suspends Withdrawals

Crypto exchange BitCoke announced in its official Telegram group that it had suspended withdrawals from 5 am UTC on November 13 because the person in charge of finance was under investigation and could not provide the private key authorization.

BitCoke said it will enable the Account Push feature on November 18 at 12 pm UTC to allow users to swap assets and will resume fiat OTC as soon as possible.

The BitCoke exchange lawsuit is unexpected, considering that it disclosed in May of this year that it had secured $20 million in a private round of strategic financing.

The funding agreement was made with a group of investors, including Redline DAO, Krypital, LD Capital, Hotbit, and numerous illustrious organizations, led by the Huobi exchange.

The cryptocurrency industry is facing many difficulties, and authorities are gradually tightening policies to protect users. The recent FTX incident also made investors doubt the transparency of crypto companies.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.