BitMEX Suddenly Suspends Trading. Here’s What Happened

Oct 27,2022
BitMEX Suddenly Suspends Trading. Here’s What Happened

According to a recent statement, BitMEX, a digital currency exchange, suspended trading due to "technical difficulties"

The exchange indicated that it was currently processing, but it did not actually indicate how long the repair transaction was likely to take

BitMEX pays attention to the safety of its customers' funds. "We remind customers that any assets are very safe, and apologize for the inconvenience."

Once the difficulties are solved, it will be possible to save and withdraw money.

Earlier this week, Alexander Hoeptner, CEO of BitMEX, announced his withdrawal. Replaced by Chief Operating Officer Stephan Lutz. Hoeptner, former Borse Stuttgart GmbH, the leading cadre BitMEX in 2020 after Arthur Hayes resigned. He took over as interim CEO Vivien Khoo

BitMEX was established in 2014 and quickly became one of the leaders in the derivatives industry. Hopewell succeeded in turning the controversial exchanges, which were plagued by a series of legal risks, into a channel conforming to regulatory policies. However, BitMEX's derivatives market share has decreased significantly in recent years. In order to attract customers, the exchange expanded its service projects to spot trading and escrow.

Earlier this October, Hoeptner said that the largest exchange was planning to introduce new local tokens

Upgrade (October 26, 16:12 UTC):BitMEX indicates that its transaction module is only released again in the revocation mode. It is estimated that the transaction will be repaired at 16:15 UTC.