Bittrex, a bitcoin and cryptocurrency exchange founded in 2014, filed for bankruptcy in the state of Delaware. The decision comes after the company previously announced it would cease all U.S. operations effective April 30 as a result of the U.S. Securities and Exchange Commission. charges against the company and its former CEO for operating an unregistered exchange, broker and clearing agency. However, this announcement does not impact Bittrex Global, according to a statement released by the company, which will continue operations as usual for customers outside the United States
For customers who haven’t withdrawn their funds from the platform by the end of April, the company said their funds remain “safe and secure”. While the bankruptcy court will ultimately decide the method by which these funds can be claimed and distributed to customers, the company has stated its intention to activate these accounts as soon as possible so that customers who meet the necessary regulatory requirements can withdraw their funds.
Bittrex has also retained Omni Agent Solutions to provide email and website updates to customers. The company has encouraged affected customers to visit its website during this process, as they will provide additional information as it becomes available, and customers will also receive information directly from the bankruptcy court.
In the released statement, the company said: “Our main priority is to ensure the integrity of our clients. We are committed to completing the bankruptcy process in a transparent manner and in compliance with all applicable laws and regulations. We apologize for any inconvenience this may cause and thank you for your patience during this time.”