Bitmarket closes up shop, hack suspected

Poland’s second-largest crypto exchange Bitmarket closed up shop on Tuesday, without any prior warning. According to a message posted a day earlier on the Bitmarket’s website, the exchange was forced to cease operations due to loss of liquidity. However, some of its clients suspect that the exchange might have been hacked.

As a matter of fact, Bitmarket users have created a thread in Reddit, and share their experience with the exchange. They claim that lately the firm has been acting strangely - asking users to change their passwords (without any given reason) and suspending withdrawals over additional KYC requirements.

It’s been confirmed by the CEO, that they were hacked in 2017, and haven’t been able to maintain liquidity.

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Wow, they’ve been hiding it for all this time? I assumed the hack happened recently.

It seems that they were quiet about hacking in order not to lose customers. Eventually something was more than wrong in their security and operations, so they end up with two problems – liquidity and security

Either way, it was hugely unethical to keep quiet about it, I think.