dailyhodl.com
A top Hong Kong-based crypto exchange has halted withdrawals on its platform after over $56 million was taken out of its wallets last week.
According to on-chain investigator ZachXBT, BitForex engaged in some “suspicious activity” last week.
“Seeing some suspicious activity with the crypto exchange BitForex.
On Feb 23 their hot wallets saw outflows of ~$56.5M. Shortly after this time withdrawals stopped processing with no official announcements having been made since.”
According to ZachXBT, BitForex users are not having their inquiries answered by officials on BitForex’s X and Telegram. Furthermore, BitForex’s CEO stepped down last month.
According to ZachXBT, BitForex holds a significant supply of two altcoins – Tellor Tributes ($TRB) and ECOMI ($OMI).
“Bitforex holds 18% of the $TRB supply and 7% of the $OMI supply.“
Tellor Tributes is a decentralized oracle and a system that miners on the Ethereum (ETH) network can use to fetch external data and place it on-chain for access by smart contracts. The $TRB token is used as a means of payment and in the governance of the protocol.
$OMI is the native utility token on the VeVe digital collectible platform. $OMI tokens are the native medium of exchange on the ECOMI digital collectible platform.
BitForex has yet to release a statement about the claims at time of writing.
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