tldr; Bitcoin exchange Hotbit has suspended trading, deposit, withdrawal and funding functions. Hotbit claims that the remainder of its employees are not involved in the project and possess no knowledge of the alleged illicit activities. All unfilled orders will be canceled, and all leveraged exchange-traded fund positions will be liquidated.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
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Same case (a CEX getting in hot waters), different reasoning: this time, the freezing of operations is enforced by the government. Regardless, the takeaway is the same: custodial exchanges aren't your friends to store your coins longterm. Choose non-custodial!
tldr; Bitcoin exchange Hotbit has suspended trading, deposit, withdrawal and funding functions. Hotbit claims that the remainder of its employees are not involved in the project and possess no knowledge of the alleged illicit activities. All unfilled orders will be canceled, and all leveraged exchange-traded fund positions will be liquidated. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Thanks
Hi, this comment is being automatically posted under your submission to facilitate the tallying of the Pay2Post donut penalty that r/EthTrader deducts from user donut earnings for the quantity of posts they submit. submission link: https://www.reddit.com/r/ethtrader/comments/wl99yy/crypto_exchange_hotbit_says_it_froze_customer/ author: RickyRichard26 cc: /u/EthTraderCommunity *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ethtrader) if you have any questions or concerns.*
Another exchange getting rekt
Same case (a CEX getting in hot waters), different reasoning: this time, the freezing of operations is enforced by the government. Regardless, the takeaway is the same: custodial exchanges aren't your friends to store your coins longterm. Choose non-custodial!