Hidden Road Suspends Trading on Bybit: Internal Problems and Security Alerts
Date: 2024-05-30 Author: Oliver Abernathy Categories: BUSINESS
Bloomberg, citing anonymous sources, reported Hidden Road's decision to temporarily ban trading on the Bybit crypto exchange due to "issues" related to user identification programs and anti-money laundering.
Compliance issues
Bybit representatives announced a comprehensive review of their brokerage line, promising compliance with all necessary requirements and improvement of work with brokers to solve problems.
Security concerns
This decision follows rumors of a hack and possible bankruptcy of Bybit, which caused a massive withdrawal of funds by the exchange's customers, exceeding $50 million in one day.
