bittrex shuting down operation

[tech30338]

bittrex will be closing and stopping operation, so make sure that your that if you have funds in Bittrex make sure to transfer it to your wallet or on an exchange of your choice but it is best if you have your wallet where you have full control.
They said the reason for closing is because US Bittrex is bankrupt.
I hope this helps, and makes members aware to transfer their funds out of Bittrex.
Here is the link to the news.
https://www.coindesk.com/business/2023/11/21/crypto-exchange-bittrex-global-to-shut-down/
https://bittrexglobal.com/#:~:text=Bittrex%20was%20founded%20in%202014,our%20customers%20can%20count%20on.

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[Charles-Tim]

This is the third thread about this, the first was created more than 12 hours ago.

Bittrex is Closing Down

The best would be to lock this thread.

I am surprised that the original one was on the right board which is the exchanges board, but people are not posting there.

[Majestic-milf]

 At least they gave a pre information before planning to shut down. This is more reasons why it's not advisable to leave your funds on centralized exchanges as they can wake up one morning and decide they are shutting operations. Although for Bittrex's case, they files for bankruptcy in May after being sued by the SEC for operating a national securities exchange without seeking their approval. From the looks of this news, it seems the CEO, Oliver Linch lost the battle after much huff about dealing with the charges vigorously. I'm wondering if it's the $24m settlement given to the SEC that crumbled the company.

[Odohu]

This is a serious issue and another indication that CEX might not be enjoying the popularity they once enjoyed among crypto users in the wake of increasing need for privacy. It could also be the reason mixers are flourishing which is in line with the reason for the creation of Bitcoin.

Bittrex is known for having one of the most rigorous KYC process, maybe people just got fed up with such herculean process when there are better alternatives. For instance, to complete KYC in Binance and Kucoin, a Nigeria just need his Bank Verification Number (BVN) and the KYC process will be completed in minutes. Unlike Bittrex where a valid ID and proof of address as well as funds are mandatory.

I just hope this does not have negative impact on the entire cryptocurrency market.

[Amphenomenon]

CEX and bankruptcy are together forever at least this is still better than the FTX last year where customers were not given a chance to make withdrawal and when they were given it was not a normal rate, those who fail to see this early will more likely be victimised again, good non-custodial wallet like bluewallet and Electrum are still the best.
Ps, if you are using Trustwallet don't ever think you are safe, go for a better wallet please.

[348Judah]

bittrex will be closing and stopping operation, so make sure that your that if you have funds in Bittrex make sure to transfer it to your wallet or on an exchange of your choice but it is best if you have your wallet where you have full control.

If you're using a centralized exchange, then know that you're not safe, not your keys not your coins, i count this a great privilege for everyone using them to have been this earlier informed before the worst happened, most of such closure being experienced don't give a prior notice for shutdown like this, if you're able to move your coins, then don't use another of its kind, learn from this.

They said the reason for closing is because US Bittrex is bankrupt.

This same thing will come upon any other exchange soon, tge best is to stay away from tgem and hold your coins with you by using a non custodial wallet, bankruptcy is very common nowadays with centralized institutions, they easily get financial problems by any chance.

[AakZaki]

I haven't kept up with Bittrex for several years. This is because of some exchange regulations that disappointed me. Almost 3 years I have been with Bittrex but finally I decided to leave because of a KYC case. This has never happened before and my friend was not asked for this condition, they can still transact. I have to create a passport for activities on Exchange as KYC compliance. Since then I was disappointed, I had to make a passport. After KYC fulfillment I finally quit Bittrex.

[TakeItEasy]

bittrex will be closing and stopping operation, so make sure that your that if you have funds in Bittrex make sure to transfer it to your wallet or on an exchange of your choice but it is best if you have your wallet where you have full control.
They said the reason for closing is because US Bittrex is bankrupt.
I hope this helps, and makes members aware to transfer their funds out of Bittrex.
Here is the link to the news.
https://www.coindesk.com/business/2023/11/21/crypto-exchange-bittrex-global-to-shut-down/
https://bittrexglobal.com/#:~:text=Bittrex%20was%20founded%20in%202014,our%20customers%20can%20count%20on.

I have seen this news as recently but didn't got something special about this and don't have to do with it, because I didn't even mostly use it.
Now a days there are many exchanges who are going to shut down, what will be the reason for that? Even the market was at the good price though and we have seen some positive moves previously.

But the way the exchanges are shutting down is quite harmful for the crypto itself I think, even there are many people who still using those exchanges which didn't have a high volume even but they still doing trade there.

[CryptSafe]

I believe they should have taken some measures to inform their clients to start transferring their funds to their own personal wallets for their own safety, because that is what is available whenever such a thing wants to take place.

Sometimes what I believe causes exchanges and casinos to shut down is not really about liquidity but just some basic principles they ignore, which are sometimes as vital or important as the case may be. For instance, when it comes to awareness, publicity is very important, and as such, when it is noticed that the traffic is beginning to reduce, what it is showing is that such an organization would need to strengthen or take a step to do an advertisement or a promotional campaign to revive and make known their presence to be in existence, but they fail to look in that direction but rather decide to shut down. But however, it is good they returned assets belonging to their customers, and that would speak for them whenever they decide or plan a return.

[DubemIfedigbo001]

Ps, if you are using Trustwallet don't ever think you are safe, go for a better wallet please.

I stand with you totally on this. Trust wallet is very porus. I know of a colleague who got robbed of her coins last year May without trace till date, like the coin just vanished into thin air, and all attempts to reach their support proved abortive for a while, when they reluctantly replied they didn't give a valid response and at some point stopped responding as well. That singular at set me on my heels away from them.The security is weak compared to Electrum that I currently use.

[Bobrox]

So sad with my first exchange experienced trading cryptocurrency have closed the operation, its bad news regarding Bittrex is exchange supported for many ICO coins are promoting on bounty campaign project. Actually they have close operation last several months exactly on May 2023 before deadline day withdrawing fund on the early December 2023. Still not late for user who have fund in this exchange to withdraw to their personal wallet before Bittrex exchange operation close totally and not ability withdrawing again if have pass deadline day.

I don't know what happen with my Bittrex account because when opening required with KYC where have pass for long term when first time using this exchange, I don't remember with how much assets in this exchange but looks not enough time due KYC process manually and deadline for withdrawing left few days later.

[Hamza2424]

This is the third thread about this, the first was created more than 12 hours ago.
The best would be to lock this thread.
I am surprised that the original one was on the right board which is the exchanges board, but people are not posting there.

Hmm, I'm sure most of them are not actively writing that section, they usually post here and in Bitcoin discussions,s and TBH, you can also count me in them as well but I do visit in reading mode to stay updated with the relevant news.

Hehe, also I'm sure its a 1 in thousands that Op will read the below replies and respond because he just completed his task by posting this thread. Agreed on the thread lock.

[Ruttoshi]

This is the reason why people shouldn't keep their finds in an exchange because they might shutdown someday and do away with your funds. bittrex informed their customers on this earlier and it wasn't a shock to them that they woke up one morning and couldn't have access to their funds.

Be your own bank and save your coins yourself rather than leaving your funds in the hand of a third party, that might shutdown anytime. Bitcoin has given everyone the opportunity to keep your asset with you by using a noncustodial wallet.

[Timmzzy]

bittrex will be closing and stopping operation, so make sure that your that if you have funds in Bittrex make sure to transfer it to your wallet or on an exchange of your choice but it is best if you have your wallet where you have full control.
They said the reason for closing is because US Bittrex is bankrupt.
I hope this helps, and makes members aware to transfer their funds out of Bittrex.
Here is the link to the news.
https://www.coindesk.com/business/2023/11/21/crypto-exchange-bittrex-global-to-shut-down/
https://bittrexglobal.com/#:~:text=Bittrex%20was%20founded%20in%202014,our%20customers%20can%20count%20on.

Wow this is heart breaking, there are some news headlines I saw too that CZ is resigning... And binance is to pay some Fines to the US. I have some funds on bittrex but I can't withdraw them because they don't really worth the withdrawal fee am to spend there.

[dansus021]

I know that Bitrex US is winding down and filed chapter 11 in the US but I dont expect the Bitrex Global to also want to close its operation. damn this is heart broken this one of the oldest exchange in crypto industry I remember use their platform in 2015ish they actually one of the big exchange back couple years ago and along with poloniex

[Die_empty]

This is a serious issue and another indication that CEX might not be enjoying the popularity they once enjoyed among crypto users in the wake of increasing need for privacy. It could also be the reason mixers are flourishing which is in line with the reason for the creation of Bitcoin.

Increased crypto awareness is now making people know the importance of holding their keys but this is the case of strict regulation by the US SEC. Most exchanges make the majority of profit from the US market. Without the US market, many of them will become bankrupt and I think this was the case of Bittrex Global after its US arm was forced out of the US crypto market.

This same thing will come upon any other exchange soon, tge best is to stay away from tgem and hold your coins with you by using a non custodial wallet, bankruptcy is very common nowadays with centralized institutions, they easily get financial problems by any chance.

Exchanges that want to operate in the US will have to comply with the regulatory laws. I think they will be fine if they allow the SEC to have access to all their transactions. Maybe in future will might have exchanges that will operate like commercial banks with the government having total control over them. Bittrex Global has given customers till December 4 to withdraw all their funds, this is the beauty of the winding up.