Poland-based cryptocurrency exchange BitMarket has closed its operations abruptly, citing “loss of liquidity,” according to a notice on its website.
Indeed, BitMarket faced low liquidity, with reported daily volumes of less than a million USD, according to CoinMarketCap.
Currently, it is not known how BitMarket users will be able to withdraw their funds. “We will inform you about further steps,” the notice further reads.
A Reddit user named OdoBanks claimed that there were several “red flags” in the last few weeks with BitMarket, including users were “forced” to change their passwords without reason, users’API keys were changed and some users' withdrawals were also stopped on the basis of additional know-your-customer (KYC) requirements, among other issues.