RATE Group | Polish Crypto Exchange BitMarket Shuts Down Citing Liquidity Loss
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Polish Crypto Exchange BitMarket Shuts Down Citing Liquidity Loss

22 Jul Polish Crypto Exchange BitMarket Shuts Down Citing Liquidity Loss

Posted at 00:10h in Cryptocurrency News by

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Polish cryptocurrency exchange BitMarket announced its shutdown on its official website on July 8.

When trying to access the exchange through its website, users are instead greeted with the following text message in both English and Polish:

“Dear Users, We regret to inform you that due to the loss of liquidity, since 08/07/2019, Bitmarket.pl/net was forced to cease its operations. We will inform you about further steps.”

Leading cryptocurrency analytics website CoinMarketCap shows that the trading platform volume was relatively low — $850,080 in the past 24 hours. Still, it is unclear how trading is continuing while the exchange is seemingly closed. Users may still be able to trade on the platform using API keys.

Reddit user OdoBanks pointed out earlier today that the exchange has shown several red flags in the weeks leading to its shutdown. Notably, prior to the closure, users have been allegedly forced to change their passwords (without any given reason) and their API…

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