Hotbit exchange suspends all transactions indefinitely #togrp7

China-based crypto exchange platform Hotbit announced its assets were frozen due to an ongoing investigation of the company, and it had to suspend all trading, deposit, and withdrawal functions until its assets were released. The exchange ensured that all its customers’ funds were safe and secure, and it will return to business as usual as soon as the investigation is over.

According to the announcement, a management-level employee got involved in a project in 2021, which the law enforcement now suspects violated criminal laws. Hotbit claims that the project was against the company’s internal principles, and the managers’ involvement in this project was unknown to Hotbit. The employee in question left Hotbit in April 2021. Regardless, the investigation started on the suspected project found its way to Hotbit #togrp7

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