Crypto exchanges began restricting transfer of funds to FTX

Crypto exchanges began restricting transfer of funds to FTX

Upbit took this measure to protect its users' assets. Crypto exchanges started to suspend asset transfers to FTX

South Korean platform Upbit published an announcement that it would limit the withdrawal of virtual assets to FTX as part of investor protection measures.

At the same time, Upbit warned users that due to internal circumstances of the exchange FTX withdrawals are currently suspended. Therefore, in the case of transferring assets to this platform, they can be lost, said the report.

FTX users began reporting problems and delays in withdrawals over the weekend. Customers of the platform stated that requests to transfer cryptocurrencies are not processed and "hangs", and the support team does not respond. FTX responded that the slowdown did occur. Later, it was revealed that about $6 billion had been withdrawn from the platform within 72 hours.

An official announcement that withdrawals are currently not possible appeared on the FTX website on November 10. In addition, in its message the platform strongly recommends to refrain from depositing funds.

Also, information about the exchange FTX disappeared from the list of cryptocurrency platforms on the site CoinGecko. On November 8, the data was still displayed, on November 9 there was information about the American and Turkish divisions of the platform.

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