BittrexIt, a bitcoin and cryptocurrency exchange platform founded in 2014, has filed for bankruptcy in Delaware. The decision comes after the company announced earlier that it will cease all operations in the US starting April 30 as a result of the US Securities and Exchange Commission. fees v. the Company and its former CEO for operating an unregistered stock exchange, broker and clearing agency. However, this announcement does not affect Bittrex Global, according to statement issued by the Company, which will continue operations as normal for customers outside of the United States
For customers who did not withdraw their funds from the platform before the end of April, the company stated that their funds remain “safe and secure.” While the bankruptcy court will ultimately decide the manner in which these funds can be claimed and distributed to customers, the company has announced its intention to activate these accounts as soon as possible so that customers who meet the necessary regulatory requirements can withdraw their funds.
Bittrex also retained Omni Agent Solutions to provide email and website updates to customers. The company encouraged affected clients to visit their website during this process, where they will provide additional information as it becomes available, and clients will also receive information directly from the bankruptcy court.
In the released statement, the company said, “Our main priority is to ensure that our clients are complete. We are committed to working through 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 appreciate your patience during this time.” .
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