Crypto trade BKEX suspended withdrawals after funds on its platform had been used for cash laundering, in accordance with a Could 29 assertion.
BKEX said that its customers’ funds had been concerned in cash laundering, including that it was cooperating with legislation enforcement businesses to collect proof.
Resulting from this, the trade suspended withdrawals for an undisclosed interval. It added:
“BKEX staff will absolutely cooperate with the regulatory investigation and do its greatest to revive the conventional operation of the trade. The staff 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 could keep a clear and well timed communication course of through 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 consumer puzzled concerning the platform’s monetary well being amid the current 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 reply to CryptoSlate’s request for remark.
Centralized exchanges have come underneath elevated scrutiny following FTX’s collapse final yr. On Could 22, Hotbit shut down providers due to its deteriorating working situations.
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 submit BKEX freezes withdrawals amid cash laundering probe appeared first on CryptoSlate.
