Polish crypto exchange BitMarket shuts down, citing ‘loss of liquidity’

Exchanges • July 9, 2019, 5:03AM EDT
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Poland-based cryptocurrency exchange BitMarket has closed its operations abruptly, citing “loss of liquidity,” according to a notice on its website.

Indeed, BitMarket faced low liquidity, with reported daily volumes of less than a million USD, according to CoinMarketCap.

Currently, it is not known how BitMarket users will be able to withdraw their funds. “We will inform you about further steps,” the notice further reads.

A Reddit user named OdoBanks claimed that there were several “red flags” in the last few weeks with BitMarket, including users were “forced” to change their passwords without reason, users’API keys were changed and some users' withdrawals were also stopped on the basis of additional know-your-customer (KYC) requirements, among other issues.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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