Crypto exchange BKEX suspended withdrawals after funds from its platform were used for money laundering, according to a May 29 statement. statement.
BKEX said its users’ funds were involved in money laundering, adding that it was cooperating with law enforcement to gather evidence.
For this reason, the exchange suspended withdrawals for an undisclosed period. He added :
“The BKEX team will cooperate fully with the regulatory investigation and do their best to restore normal operation of the exchange. The team will actively work with the relevant authorities to resolve current issues encountered to ensure that the rights of our users are protected to the greatest extent possible.
The exchange continued that it would maintain a transparent and prompt communication process during the investigation and urged users to contact its customer service if they had any further issues.
BKEX users ask questions
Meanwhile, BKEX’s action has drawn criticism from several users who interrogates why the exchange would suspend withdrawals for all of them because of the actions of a few. another user asked on the financial health of the platform amid recent struggles by rival centralized exchanges.
However, a BKEX angel assured users that the platform will resume its services soon and informed let them be patient.
At press time, BKEX had yet to respond to by CryptoSlate request for comment.
Centralized exchanges have come under increased scrutiny after the collapse of FTX last year. On May 22, Hotbit shut down its services due to deteriorating operating conditions.
BKEX was founded in 2018 and is registered in the British Virgin Islands. Data from CoinMarketCap showed its trading volume to be $434.15 million in the last 24 hours.
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