Second largest Polish crypto exchange, Bitmarket, just announced it went bust. REMINDER: NEVER KEEP YOUR COINS ON AN EXCHANGE!

on

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.

Red flags in the last few weeks preceding the bankruptcy:

  1. Users were forced to change their passwords (no reason given)
  2. Users' API keys were changed
  3. Some users' withdrawals were halted on the basis of additional KYC requirements. The exchange demanded:
  • a scan of the ID, front and back
  • a photo of a parson's face, holding the ID and a note confirming that you are using bitmarket to buy bitcoin for yourself, as an investment (a new requirement).

Exchange representatives, active on Polish bitcoin forum, claimed that this was the long overdue KYC requirement and that they were only targeting people with expired IDs. They never addressed users' accusations of hiding the fact that the exchange has been hacked.

submitted by /u/OdoBanks
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