Bitcoin
$10,553.21 1.77%
BTC · 1w

Reminder: Not your key, not your coin!

Polish cryptocurrency exchange Bitmarket has just shut down without warning.

According to a brief message posted late on July 8 on its website, Bitmarket – said to have been Poland’s second-largest crypto exchange – stated:

“We regret to inform you that due to the loss of liquidity, [from] 08/07/2019, Bitmarket.pl/net was forced to cease its operations. We will inform you about further steps.”

While it’s not clear exactly what caused the “loss of liquidity,” a Reddit post suggested that the exchange had been exhibiting odd behavior in the weeks prior to the closure.

A Redditor with the username OdoBanks wrote that “red flags” included users being forced to change their passwords without explanation and withdrawals halted over unusual additional know-your-customer procedures.

The firm had also not responded to claims it had been hacked, said the post.

CoinDesk has reached out to the firm to confirm details of the closure and the situation regarding users’ funds. We will update this article if a reply is received.

At press time, Bitmarket’s Twitter account had no statement on the closure, and its trading data on CoinMarketCap had not been updated for 10 hours.

Hat tip to Bithub.pl

Closed sign image via Shutterstock

Go to coindesk.com
Recent news
BTC +1.77% · medium.com · 19h

Letting a Million Channels Bloom

The Lightning Network is growing exponentially, currently at over 35,000 channels and counting. Existing implementations of the Lightning protocol are, by and large, handling this growth well…
BTC +1.77% · beincrypto.com · 20h

No, You Can't Time the Bitcoin Market

Bitcoin (BTC) just ripped the face off of everyone who shorted below $10,000 in the span of approximately 30 minutes. Here's why.
BTC +1.77% · twitter.com · 21h

Oh the irony

Are you saying cash has never been used for illicit purposes, @joesquawk asks in response to Mnuchin's concerns about #btc "We are going to make sure that bitcoin doesn't become the equivalent to swis...
13