Bkex Exchange Suspends Withdrawals Over Money Laundering Probe

May 30, 2023

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Bkex Exchange Suspends Withdrawals Over Money Laundering Probe

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Key Point

The suspension is due to some users’ funds on the platform involving in money laundering
The exchange assured users of timely communication during the investigative process and will ensure users’ rights are protected

To assist law enforcement agencies in investigating suspicious money laundering on the exchange, Bkex Exchange has announced the suspension of withdrawals.

The suspension was disclosed in a Monday blog post by the exchange, and it noted that some users’ funds on the platform were involved in money laundering allegations; therefore, it is necessary for the exchange to pause all forms of withdrawals in order to cooperate with the law enforcement agencies in the investigative process.

“The team will actively work with the relevant authorities to resolve the current issues faced to ensure that the rights of our users are protected to the greatest extent possible,” Bkex wrote in a blog post.

The exchange will prioritize the interest of users and will also ensure that normal operations are restored after the investigation; the exchange assured users of transparent and timely communication as the investigation continues.

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