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Crypto trade BKEX suspended withdrawals after funds on its platform had been used for cash laundering, in line with a Might 29 assertion.
BKEX acknowledged that its customers’ funds had been concerned in cash laundering, including that it was cooperating with legislation enforcement companies to collect proof.
Attributable to this, the trade suspended withdrawals for an undisclosed interval. It added:
“BKEX crew will totally cooperate with the regulatory investigation and do its greatest to revive the traditional operation of the trade. The crew will actively work with the related authorities to resolve the present points confronted to make sure that the rights of our customers are protected to the best extent doable.”
The trade continued that it will keep a clear and well timed communication course of in the course of the investigation and urged customers to contact its customer support if that they had different points.
BKEX customers ask questions
In the meantime, BKEX’s motion has drawn criticism from a number of customers who questioned why the trade would droop withdrawals for all of them due to the actions of some. One other person puzzled in regards to the platform’s monetary well being amid the latest struggles of rival centralized exchanges.
Nonetheless, a BKEX angel assured customers the platform would resume providers quickly and suggested them to be affected person.
As of press time, BKEX was but to answer CryptoSlate’s request for remark.
Centralized exchanges have come below elevated scrutiny following FTX’s collapse final yr. On Might 22, Hotbit shut down providers due to its deteriorating working circumstances.
BKEX was based in 2018 and is registered within the British Virgin Islands. Information from CoinMarketCap confirmed that its buying and selling quantity was $434.15 million over the past 24 hours.
The put up BKEX freezes withdrawals amid cash laundering probe appeared first on CryptoSlate.
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