Hong Kong’s regulator for securities and futures markets has warned the public about cryptocurrency exchange BitForex for suspected fraud, it announced Monday.
BitForex Website Goes Dark Amid Reported $57M Outflow
Users of cryptocurrency exchange BitForex have been blocked from accessing the website. Blockchain sleuth ZachXBT reported that $57 million has been drained out of the exchange’s hot wallets.
Chainalysis Says BitForex Trading Volumes Could Be Fake
BitForex exchange coiuld be faking its bitcoin trading volume, according to a report by Philip Gradwell, chief economist for Chainalysis.