-
BitForex
will
come
back
online
to
process
withdrawals. -
The
exchange’s
team
were
detained
and
investigated
by
police
in
China
on
Feb.
23. -
All
operations
and
services
will
cease
after
withdrawals
take
place.
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01:26
Bitcoin
Holds
Steady
After
China
Rate
Cut
Cryptocurrency
exchange
BitForex
said
it
will
open
for
withdrawals
following
a
five-month
outage
spurred
by
an
investigation
by
the
Jiangsu
Province
police
in
China.
The
exchange
said
in
an
X
post
that
trading
and
deposits
will
remain
suspended,
but
that
withdrawals
will
be
open
for
clients
that
complete
know-your-customer
(KYC)
verification.
BitForex
went
offline
on
Feb.
23
after
experiencing
a
$57
million
outflow.
User
withdrawals
and
access
to
the
site
was
blocked,
leading
to
a
warning
by
Hong
Kong’s
regulator
for
securities
and
futures
markets
(SFC).
“On
February
23,
2024,
the
Bitforex
team
was
detained
and
investigated
by
the
Jiangsu
Province
police
in
China,”
the
post
read.
“This
unexpected
event
caused
the
platform
to
become
inaccessible,
and
users
were
unable
to
withdraw
asset
on
that
day.”
BitForex
said
that
after
returning
assets
to
users
it
will
cease
all
operations
and
undergo
a
“comprehensive
rectification.”