Bittrex Exchange Bankruptcy: Customers Leaving Money Behind – Here’s the Latest
Bittrex exchange, a popular cryptocurrency exchange, has declared bankruptcy leading to an exodus of customers leaving their funds behind. The United States-based exchange has ceased all trading and withdrawals as the filing in the US Bankruptcy Court of Washington D.C. takes effect.
As a result of the bankruptcy filing, customers on the trading platform will no longer be able to access their accounts or receive any assets they have stored. In addition, the order book is closed and all open orders have been cancelled.
With the bankruptcy filing, Bittrex’s customers should expect to lose at least some of their money, although it is yet to be determined how much, as it is unclear what assets are held by the company.
The exchange has recommended filing a claim in the bankruptcy court for customers to be able to receive any assets that may be found. However, it is not yet known how much customers may receive, and the process may be lengthy as the case progresses.
As the investigation into the bankruptcy progresses, customers are advised to remain vigilant on the news and any other relevant information as the outcome may hold some surprises. In the meantime, customers concerned about their funds should take every measure to ensure their safety, such as keeping safe backups of any wallets and sensitive information kept on the exchange.