BitBay to Move to Malta

Largest Polish cryptocurrency exchange is forced to move to Malta due to banking issues
30 May 2018   475

The larges cryptocurrency exchange of Poland Bitbay decided to suspend its activities in the home jurisdiction, as banks no longer want to cooperate with it. The exchange will move to Malta, whose laws are more welcoming to the participants of the cryptocurrency market, and will work under the guidance of the new operator. 

Bitbay writes that its activities in Poland directly depend on interaction with local banks, but the last Polish bank that serviced the exchange accounts decided to suspend cooperation in the end of May.

Bitbay will close access to Polish zloty accounts after May 31. Other functions of the site will be available in full scale, however, after September 17, all trading activity on the site will be suspended, and users will only be able to withdraw their money and will not be able to make deposits.

Clients of the company will have the opportunity to register again, after the exchange has reinstated its activities in Malta. Although the platform will be managed by a new operator, it will retain the bitbay.net domain and the BitBay trademark.

BitForex to be Suspected of Fraud Due to MFG Delisting

After 13 days of trading, crypto-exchange froze trading of this coin without a warning
14 August 2018   80

Users of the BitForex exchange have suspected the platform management in fraud after the platform has delisted the SyncFab (MFG) token without any explanation. This is reported by Cryptovest.

On July 18, at a recently opened BitForex exchange, trading of the own token of the SyncFab blockchain platform started. After 13 days, crypto-exchange froze trading of this coin without a warning. According to users, BitForex still retains part of the deposit funds in order to further steal tokens.

In turn, commenting on the situation, SyncFab representatives refer to vulnerabilities of unknown character in the smart contract of the token.

BitForex has a lot of tokens listed, however, not everything can be found through the search. The main page of the platform lists only coins with active trades.

Price of the MFG coin fluctuates around $ 0.0059. Token is traded on the IDEX, Cobinhood, CoinExchange, Bancor Network. In August, the leading company in the field of bitcoin-security and the provider of the popular BitGo wallet announced support for MFG.