BitForex Reopening: Withdrawals Resume, KYC Required

• BitForex went offline due to police detention, causing a $57 million outflow and restricting user access and withdrawals.
• BitForex will suspend trading and halt new registrations during a comprehensive rectification to enhance platform security.
• BitForex warns users against scammers and ensures official withdrawals will be allowed with KYC documentation upon reopening.

BitForex is set to reopen for customer withdrawals following a shutdown triggered by an investigation by Chinese authorities earlier this year.

The platform’s unexpected closure in February prompted a warning from Hong Kong’s Securities and Futures Commission and sparked concerns among users about the safety of their assets.

Dear Bitforex Users,

We sincerely apologize for the inconvenience and concerns you have experienced during this period. On February 23, 2024, the Bitforex team was detained and investigated by the Jiangsu Province police in China. This unexpected event caused the platform to…

— BitForex (@bitforexcom) July 19, 2024

This incident, which made the platform inaccessible following a $57 million outflow, forced the platform offline. Consequently, user withdrawals and acce…

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