Polish cryptocurrency exchange Bitmarket shuts down due to liquidity problems

The exchange ceases to exist, little details are available so far.
Redditt users say that the problems have started much earlier.

Tanya Abrosimova Independent Analyst

The second largest cryptocurrency exchange in Poland halted trading operations cited liquidity problems as the key reason behind the decision.

"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."

This notice now replaces the website of the exchange.

Meanwhile, Reddit users noted that the problems with the exchange had started a few days ago. Thus, the platform forced users to change passwords and API-keys, while some users experienced issues with withdrawing funds due to KYC requirements.

The representatives of the exchange explained that they were after customers with expired IDs and acted in compliance with the long overdue KYC requirements.

Bitmarket was founded in 2014 and gained popularity in Poland due to fiat support and margin trading.

Author

Tanya Abrosimova

Independent Analyst

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