Bittrex Global recently announced the termination of all its trading activity. The announcement was made on its official X/Twitter account.
The tweet read that the platform will only permit withdrawals now. Thus, users should log into their accounts and withdraw their assets quickly. It has only been a while since Bittrex enabled USD to USDT conversion for withdrawals.
The feature was added to assist users in quickly withdrawing funds. Previously, the platform only supported EUR and a few other cryptocurrencies. Since the mechanism was inefficient, the platform enabled USD to USDT conversion at a 1:1 ratio.
As for its latest announcement, the platform has warned users only to trust its official channels. These include email and social media platforms. Users have been cautioned to look for suspicious activity and only trust official channels. Given the suddenness of the situation, malicious parties are trying to take advantage of vulnerable users.
Bittrex users must remember that the platform will never contact anyone on Telegram. Similarly, no Biitrex official will reach users via a personal chat or email address. The platform is only using email addresses ending in @bittrex.com, @bittrex.li, @bittrex.bm, and @bittrexglobal.com.
Therefore, users should not entertain any other email address associated with Bittrex Global. Another thing to note is that every withdrawal is subject to the terms and conditions imposed by Bittrex.
To guarantee that consumers do not fall victim to any malicious attempts, Bittrex Global has published an official post outlining precautions.
Bittrex Global linked the article at the end of their official tweet. The community has been on guard ever since Bittrex Global made the original announcement on November 20.
Source: https://www.cryptonewsz.com/bittrex-global-ceases-trading-and-only-permits-withdrawals/