Bittrex Global to Shut Down Operations and Disable Trading Activities
- Bittrex Global has announced that it will shut down operations and asked users to withdraw funds.
- The exchange said that it will disable trading activities starting Monday, December 4, at 18:00 UTC.
- It asked investors not to make any deposits on the platform, for it cannot guarantee the safety of the funds.
- Users with USD balances will need to convert funds into either EUR or crypto in order to be able to withdraw.
Bittrex Global, a prominent digital asset trading platform based in Liechtenstein, has announced that it will be ending its services and that all trading activities on the platform will be disabled starting December 4. The official statement was displayed on the exchange’s official website, and the platform said that it came to the decision after much consideration.
As per the official statement, all trading activity on Bittrex Global will be disabled starting Monday, December 4, at 18:00 UTC, and after this date, customers will only be able to withdraw their funds as a part of the shutdown. The exchange said that it is “committed to facilitating a smooth and transparent wind-down process during this period.”
The exchange asked investors not to make any deposits on the platform, for it cannot guarantee the safety of the funds.
“Do not make any deposits to our platform. We cannot guarantee that they will be received safely. If you do send a deposit, your funds may be permanently lost as a result of the attempted transfer,” said the exchange.
Bittrex also said that it will not support USD withdrawals if users have USD in their wallets. It asked users to convert their balance into either EUR or crypto in order to be able to withdraw the associated funds. It is crucial to note that this conversion needs to be implemented before December 4, 18:00 UTC.
The Bittrex referral program has been terminated, and all the rewards associated with the program have ceased to exist. Additionally, the platform confirmed that all the rewards earned on trades executed up to and including November 19, 2023, will be paid out in the coming days.
While no withdrawal deadline has been set by Bittrex Global as of now, the exchange has requested that its customers immediately transfer their funds out of the platform.
“All our customers are strongly encouraged to log into their account and withdraw assets as soon as possible,” said the exchange while adding:
“All funds and tokens remain safe and secure on the Bittrex Global platform, and are available for withdrawal – in accordance with applicable law and our Terms of Service – at any time.”
As reported earlier by BitcoinWisdom, Bittrex filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware. At that time, the exchange had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
