Taiwan-based exchange Bitgin announced today that it will be transitioning into a cryptocurrency exchange specialized in serving corporate clients. Starting from January 5, 2024, the platform will cease to provide existing services to individual users, including deposits and withdrawals of New Taiwan Dollars and virtual currencies, as well as services related to strategy robots.
(Background Information:
88 Mansion Money Laundering Case: Bitgin warns fellow exchanges to be cautious when conducting OTC purchases of USDT
)
(Bitgin’s COO Detained in the 88 Mansion Money Laundering Case: What is the connection to cryptocurrencies?
)
Taiwan-based exchange Bitgin announced today that it will be transitioning into a specialized cryptocurrency exchange serving corporate clients. Users are reminded to withdraw their New Taiwan Dollar and virtual currency assets from the platform by January 31.
Below is the full announcement from Bitgin:
Dear Bitgin Customers,
First of all, we sincerely thank you for your trust and support for Bitgin. We have been committed to providing the best service and continuously innovating in the field of cryptocurrency trading. Today, we would like to share an important development with you.
Bitgin’s New Beginning: After careful consideration, Bitgin will be transitioning into a cryptocurrency exchange specialized in serving corporate clients. This transformation represents a new journey for us, dedicated to providing more professional and customized services for corporate customers.
Impact on Individual Users: As a result of this transformation, starting from January 5, 2024, we will cease to provide existing platform services to individual users, including deposits and withdrawals of New Taiwan Dollars and virtual currencies, as well as services related to strategy robots. Please refrain from depositing New Taiwan Dollars or virtual currencies into your Bitgin account from today onwards.
Impact on Users Under Enhanced Review: Users under enhanced review will have their account trading, withdrawal, and login functions temporarily suspended. Account functions will be reinstated after the completion of the enhanced review, allowing you to withdraw remaining assets.
Protecting Your Assets: Your asset security is our top priority. You can withdraw your New Taiwan Dollar and virtual currency assets from the platform via the Bitgin website or app before January 31, 2024. Please note that withdrawals of Tether (USDT) are only supported on the Polygon network, and withdrawal requests for other types of chains will be automatically rejected by the system.
Your Personal Information: In accordance with legal requirements, we will retain your personal information for 5 years after closing your account (calculated from your last operation time), after which we will remove your personal and account information from our system.
Next Steps: After 12:00 AM on February 1, 2024, we will take a snapshot of all user balances and notify you via email regarding the subsequent withdrawal process.
We understand that this change may cause inconvenience, and we appreciate your understanding and support. We promise to provide necessary support during this transition period to ensure the security of your assets.
Thank you for your support of Bitgin, and we look forward to serving you on this new path.
Related Reports
New Taipei District Prosecutors’ Office Refused to Accept Cold Wallets “Foreign-made wallets are prone to theft,” Guo Zheming’s 6.41 million USDT confiscated by prosecutors
88 Mansion Money Laundering Case: Bitgin CEO: Cooperation has been discontinued since 2022, and trading records have been reported; temporarily not participating in VASP association preparation
Bitgin’s COO Detained in the 88 Mansion Money Laundering Case: What is the connection to cryptocurrencies?