You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blockchain-detective-warns-of-suspicious-activity-at-bitforex-exchange/" data-wpel-link="internal">Blockchain Detective Warns of Suspicious Activity at BitForex Exchange</a> 
Closely followed <a href="https://coin-turk.com/merkez-bankasi-dijital-turk-lirasi-icin-ilk-asama-degerlendirme-raporunu-yayinladi" data-wpel-link="internal">Blockchain</a> detective Zachxbt has warned exchange users about potential suspicious activities at the cryptocurrency exchange BitForex. According to the data highlighted by Zachxbt, there was a significant fund outflow of over 50 million dollars from the exchange’s hot wallet on February 23rd. 
<h2 style="text-align: justify" id="strong-alarming-silence-from-crypto-exchange-strong">Alarming Silence from Crypto Exchange</h2> 
<a href="https://en.coin-turk.com/netherlands-invests-heavily-in-artificial-intelligence-to-enhance-global-competitiveness/" data-wpel-link="internal">Blockchain</a> detective Zachxbt, drawing attention to on-chain data, warned users about the BitForex exchange. According to the on-chain data, there was a significant fund outflow of approximately 56.5 million dollars from the cryptocurrency exchange on February 23rd. In a concerning turn of events, the exchange suddenly stopped withdrawal transactions and there has been no official announcement or statement from BitForex regarding the incident yet. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-319506" src="https://coin-turk.com/wp-content/uploads/2024/02/Kripto-Para-Borsasi-Hack-Altcoin.jpeg" alt="" width="1280" height="720"> 
Adding to the unease surrounding BitForex is the fact that the exchange’s CEO resigned just one month before the large fund outflow. This sudden departure of the CEO, combined with a lack of transparency regarding the substantial fund outflow, is leading to speculation and raising questions about the operations and security measures of the cryptocurrency exchange. 
<h2 style="text-align: justify" id="strong-high-risk-for-trb-and-omi-holdings-strong">High Risk for TRB and OMI Holdings</h2> 
Furthermore, BitForex’s significant holdings of TRB (Tellor) and OMI (ECOMI) highlight the potential consequences of the suspicious movements reported by Zachxbt. 
According to the data, holding 18% of the TRB supply and 7% of the OMI supply indicates a concentration of these <a href="https://coin-turk.com/bir-rug-pull-daha-altcoin-projesinde-815-000-dolarlik-vurgun" data-wpel-link="internal">altcoins</a> at the cryptocurrency exchange. This situation has increased concerns for both altcoins. 
The lack of clarity and transparency regarding the substantial fund outflow from BitForex and the halting of withdrawal transactions have left the exchange’s users and cryptocurrency investors in a state of uncertainty. The absence of an official statement from the exchange maintains the ambiguity of the situation, leading to growing concerns and suspicions within the cryptocurrency community. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/blockchain-detective-warns-of-suspicious-activity-at-bitforex-exchange/" data-wpel-link="internal">Blockchain Detective Warns of Suspicious Activity at BitForex Exchange</a></h5>

Blockchain Detective Warns of Suspicious Activity at BitForex Exchange

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