Cryptocurrency exchange hotbitannounced that it will suspend trading, deposit, withdrawal and funding functions.
Bad news for Hotbit, which collapsed in 2021, came today. Hotbit shared the announcement on Twitter that the website service will be suspended.
Hotbit Discontinues Website Services
📢Announcement on the Suspension of Hotbit Website Service on August 10th, 2022
Details👉https://t.co/5hf6XS638y
⚠️User's assets are safe, please don't worry.
We are sorry for any inconvenience caused!😢 pic.twitter.com/x7wiIL7j1a
— Hotbit News (@Hotbit_news) August 10, 2022
Hotbit’s post cited the reason for the suspension of services that a former Hotbit management employee, who left Hotbit in April, was involved in a project last year (which goes against Hotbit’s internal principles and is unknown to Hotbit). At the same time, the fact that law enforcement officers are now involved in a project that they think is suspected of violating the penal laws stands out as one of the important reasons for the suspension.
For these reasons, several Hotbit senior executives have been subpoenaed by law enforcement since the end of July and are assisting with the investigation. In addition, law enforcement froze some Hotbit funds, which prevented Hotbit from working normally.
Hotbit’s statements continued as follows:
Hotbit and the rest of the Hotbit management employees are not involved in the project and are not aware of the illegal information contained in the project. However, we are still actively cooperating with law enforcement in their investigations and are in constant contact with them through our lawyers and apply for the release of frozen assets. All users’ assets are safe on Hotbit.
Hotbit will resume normal service as soon as the assets are resolved. All user assets and data on Hotbit are secure and accurate.
Hotbit is working hard to follow the progress of the investigation conducted by law enforcement and continue to cooperate and will announce the results of the investigation as soon as possible.
