The currency circle is a magical place, not only filled with wealth, but also full of traps. As the exchange is at the top of the currency food chain, security and operational problems will cause the exchange to run away. The real losers are always the innocent investors.

It is difficult for exchanges that have not experienced a real bull or bear market to survive in this market. This is why investors are not recommended to choose small exchanges for trading. But the exchange I’m going to talk about today chose to run away in the bull market. If you say the bear market is running away, it may not be able to maintain operations. If the bull market is running away, there is only one way to say it: you have made enough money and it’s time to run! !

This exchange is BitForex. Many old leeks should know about this exchange. It also slowly became popular by listing currencies in the past, but I haven’t paid much attention to it recently. Later, it was launched in Hong Kong after it was legalized. It claimed to have 6 million users, but unexpectedly, when the bull market was approaching, it chose to run away.

At present, the exchange website has displayed 404 and cannot be opened. The administrator of the Telegram group has deleted the account and is sure to run away. Another wave of refugees has been born in the bull market. This is also another Hong Kong exchange that ran away after the Hong Kong JPEX exchange ran away.

During the ongoing rights protection of the victims, some people also visited the operating address of Bifu.com and found that the published address did not exist, which is the so-called virtual address. It can be seen that the hundreds of employees claimed by Bifu Exchange do not exist. Since the operating address is fake, it can be seen that Bifu.com is also planning a scam from beginning to end. What happened was that before the large withdrawal, Jason Luo, the CEO of the platform, announced his resignation. What a coincidence. One month after leaving his job, a large withdrawal occurred on the exchange. The exchange could not be opened, but Jason was The sole shareholder and director of a company. It is said that Jason now lives in Shenzhen. People in the industry should know who created Bifu.com. After all, a large number of exchanges that emerged at that time were all run by Chinese people. Subsequently, Hong Kong also added Bifu.com to the warning list of suspicious virtual asset trading platforms, and beware of a virtual asset trading platform that claims to operate under the name BitForex, which is suspected of virtual asset fraud.​

According to the rights protection telegram group, most of the victims are foreigners, and a large number of refugees have emerged as a result. It is extremely difficult to recover assets.

In fact, in this world of currency circles, there are so many exchanges like BitForex that there are so many crucian carp crossing the river. If you are not careful and do not pay attention, it is very likely that the exchange/project developer will fall into the trap. routine. Although the failure of Bifu.com is not as far-reaching as JPEX, it is still a great misfortune for the cryptocurrency community.

Therefore, for investors in the currency circle, what can reduce risks is: try not to go to small exchanges that you have never heard of! Unless you are stupid and have too much money, then it doesn’t matter! !
#BTC #pepe #ETH #near #AVAX