Polish Crypto Exchange Bitmarket Ceases Operations Without Warning

Bitmarket, a cryptocurrency exchange based in Poland, has ceased operations without any notice. The exchange is said to have been the country’s second-largest exchange.

A message posted on its website on July 8 said:

“We regret to inform you that due to the loss of liquidity, [from] 08/07/2019, Bitmarket.pl/net was forced to cease its operations. We will inform you about further steps.”

Although it was not mentioned what caused the “loss of liquidity,” a Reddit post insinuated that the exchange had been acting weird weeks before the closure.

Redditor user OdoBanks stated that there were “red flags” such as users being ordered to change their passwords without explanation and frozen withdrawals due to strange additional know-your-customer requirements.

According to the post, the company had also not replied to claims that it had been hacked.

At the time of writing, the official Twitter account of Bitmarket had no announcement on the closure, and its CoinMarketCap’s trading data had not been updated for 24 hours.