Bitfinex Crypto-Exchange Users Cannot Withdraw Fiat Currency

Several users of the Bitfinex cryptocurrency exchange informed that they could not withdraw fiat currency from the trading platform. Many traders panic and accuse the company of fraud.

Messages about delays in processing money transfers are published on the Reddit website. People complain that the exchange does not process transactions in fiat assets and does not cancel the withdrawal requests. Transfers in cryptocurrency are made in the normal mode, so only those traders who tried to transfer money to the bank suffered.

Bitfinex representatives apologized for the delays in processing express payments and stated that if the transaction takes more than 24 hours to complete, the company will charge a fee for the normal transfer (0.1% instead of 1%). According to the response of the company, the failure occurred only in the express bank transfer system.

However, one of the clients of the exchange claims that he has been waiting for money for more than a month. The user support officer explained the delay by an operational error. Another user can not cancel a request for a withdrawal of money, he was told that the application will be redirected to the financial department for consideration.

The New York State Prosecutor’s Office is accusing Bitfinex of hiding losses of $850 million that were supposedly confiscated from the company’s account in the Crypto Capital payment system. To compensate for the damage, the exchange borrowed USDT tokens worth $625 million from Tether. The management of the marketplace is confident that Bitfinex will be able to return the seized assets, repay the loan and restore its financial position.

We remind you:

CoinMarketCap Excluded Bitfinex in Bitcoin Price

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