Taiwanese local exchange Bitgin announced today that it will transform into a cryptocurrency exchange specializing 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.
(Bitgin Warning: “OTC purchases of USDT must be cautious” – related to the “88 Mansion Money Laundering Case”)
(Background: “Taiwan Exchange COO” also detained in the “88 Mansion Money Laundering Case” – What does it have to do with cryptocurrency?)
Taiwanese local exchange Bitgin announced in a public statement today that it will transform into a cryptocurrency exchange specializing in serving corporate clients. Users are reminded to withdraw their New Taiwan Dollar and virtual currency assets from the platform before January 31.
The following is the full announcement from Bitgin:
Dear BITGIN customers,
First of all, we sincerely thank you for your trust and support in BITGIN all along the way. 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 direction with you.
BITGIN’s new starting point: After careful consideration, BITGIN is about to transform into a cryptocurrency exchange specializing in serving corporate clients. This transformation represents the beginning of 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 stop providing 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 starting from today.
Impact on users undergoing enhanced review: Users undergoing enhanced review will have their account trading, withdrawals, and login functions temporarily suspended. Account functions will be reopened after the enhanced review is completed, allowing you to withdraw the remaining assets.
Protecting your assets: The security of your assets is our top priority. You can withdraw your New Taiwan Dollar and virtual currency assets from the platform through the BITGIN website or app before January 31, 2024. Please note that only Polygon Tether (USDT) withdrawals are supported, and withdrawal requests for other types of chains will be automatically rejected by the system.
Your personal information: According to legal regulations, we will continue to retain your personal information for 5 years after closing your account (counting from your last operation time), after which we will remove your personal and account information from the system.
Next steps: After 00:00 on February 1, 2024, we will take a snapshot of all user balances and notify you of the subsequent withdrawal methods via email.
We understand that this change may cause inconvenience for you and 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 in BITGIN, and we look forward to continuing to serve you on this new path.
(Attached image)
Related Reports
New Taipei Prosecutors Refuse to Accept “Foreign-made Cold Wallets” – Guo Zemin’s 6.41 million USDT funds become the custody of prosecutors.
“88 Mansion Money Laundering Case” – Bitgin CEO: Cooperation has ceased in 2022 and trading records have been reported; temporarily not participating in VASP Association preparation.
“88 Mansion Money Laundering Case” – “Taiwan Exchange COO” also detained! Is it related to cryptocurrency?