Over the past few weeks, the popular cryptocurrency exchange Bittrex has been hit with a number of financial issues, causing customers to question whether or not their funds are safe.
In early November, Bittrex’s UK counterpart became insolvent and stopped processing withdrawals, resulting in customer money being left in limbo. This prompted the Malta-based exchange to temporarily halt withdrawals.
The company has since released a statement claiming that it is resolving the issues that led to the insolvency of its subsidiary. However, questions remain as to whether or not customers who had money held at the subsidiary will be able to gain access to it, and if they will experience any losses as a result.
At this time, it is unclear whether or not Bittrex will eventually go bankrupt, and customers will be left without their funds. There has been no official word from the exchange on this subject.
Therefore, customers of Bittrex should proceed with caution in terms of allowing the exchange to hold funds. There is a chance that customers may not be able to retrieve their money if Bittrex goes bankrupt. Additionally, customers should ensure that they withdraw any funds that they do not wish to leave at Bittrex as soon as possible.
