2024

ZachXBT

Coin

<ul class="news-points"> 
 <li>ZachXBT has spotted suspicious activity on the BitForex cryptocurrency exchange.</li> 
 <li>BitForex’s hot wallet experienced an outflow of approximately $56.4 million on February 23.</li> 
 <li>BitForex users complain over the inability to make withdrawals and lack of responses from the team.</li> 
</ul> 
ZachXBT, a pseudonymous on-chain researcher on X, has spotted suspicious activity on the BitForex cryptocurrency exchange. In a recent post, the self-described “2D detective” outlined some events that led to BitForex users questioning the <a href="https://coinedition.com/what-is-a-cryptocurrency-exchange-how-does-it-work/">crypto exchange</a> team. 
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 Seeing some suspicious activity with the crypto exchange <a href="https://twitter.com/bitforexcom?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@bitforexcom</a>. On Feb 23 their hot wallets saw outflows of ~$56.5M. Shortly after this time withdrawals stopped processing with no official announcements having been made since. Currently users are asking questions on… <a href="https://t.co/gFEcwExHKh" target="_blank" rel="nofollow">pic.twitter.com/gFEcwExHKh</a>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1762028433574650347?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">February 26, 2024</a>
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According to the on-chain researcher, BitForex’s hot wallet experienced an outflow of approximately $56.4 million on February 23. He noted that shortly after the significant outflow, withdrawals from the exchange stopped processing. 
ZachXBT explained withdrawals had not resumed on the…
The post <a href="https://coinedition.com/zachxbt-has-spotted-suspicious-behavior-on-bitforex-crypto-exchange/">ZachXBT Has Spotted Suspicious Behavior On BitForex Crypto Exchange</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

ZachXBT Has Spotted Suspicious Behavior On BitForex Crypto Exchange

Coin Edition

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