Polish Crypto Exchange Shuts Down Abruptly

Polish Crypto Exchange Shuts Down Abruptly 1

Poland-based cryptocurrency exchange BitMarket has closed shop without warning, leaving customers high and dry. In a closure message that was posted on its website, the operators blame loss of liquidity as the chief reason for the shutdown. 

It’s still unclear how much of BitMarket’s users’ funds are trapped in the firm’s wallets. In the notice posted on its website, the exchange said it would contact users about “further steps,” potentially alluding to the reimbursement of funds. The inability to immediately carry out reimbursement could give credence to speculation that an unreported hack instigated the shutdown.

BitMarket’s closure comes a few weeks after Bitsane, a separate crypto exchange based in Dublin, mysteriously disappeared, along with millions of dollars of users’ funds. 

A Forbes report on Bitsane’s strange exit claims that the exchange had begun to falter as far back as May, although the issues were supposedly due to technical problems. However, the capitulation came to a head on June 17, 2019, when the exchange’s online platform and social media accounts shut down abruptly.

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