BitForex

BitForex's Exit Scam Leads to $56.5 Million in Financial Losses.

Summary # Since February 23, 2024, BitForex, a crypto exchange operational since 2017, ceased processing withdrawals amidst unexplained outflows of about $56.5M worth of crypto from its hot wallets. The absence of communication from BitForex, coupled with the recent departure of its CEO Jason Luo, has raised concerns over a potential inside job or exit scam. Attackers # The identity of the scammers is unknown, but the main suspect is the CEO of the exchange, Jason Luo. ...