Cryptocurrency Exchange Bittrex is under scrutiny

Cryptocurrency Exchange Bittrex is under scrutiny

Bittrex, a well-known cryptocurrency exchange, has been under a lot of pressure in recent weeks. A Russian Telegram channel showed that a customer had received passport documentation and other important data for users by accident in an email generated by the exchange.

Moreover, a large number of Iranian traders are claiming that they were banned from using the platform and are unable to withdraw funds held on Bittrex.

A person managed to buy a Tesla through market manipulation

To be added that a self-confessed market manipulator declared that he managed to buy for himself a Tesla due to the profits obtained by buying and selling altcoin on Bittrex. This week, the exchange decided to respond to the incident:

Bittrex takes user privacy very seriously. We quickly moved to address this isolated incident in which a small handful of user documents were inadvertently merged together into one support ticket. Bittrex took steps to ensure that the erroneous documents were removed from being viewable within the support site, and we plan to reach out to the affected users and offer to pay for identity theft protection for 2 years.

The trader who bought the Tesla through market manipulation is from Belgium. He declared for the press that he bought a Tesla just to demonstrate that market manipulation is everywhere and that the pump-and-dump practice is funny and evil at the same time.

Moreover, he declared that he managed to make “hundreds of thousands” in profit and besides for the Tesla, he also paid a deposit for a small house.

Bittrex defended itself in a statement, saying that it closes suspect accounts:

Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.
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