Cryptocurrency exchange ByBit has announced that it has frozen its dollar deposits due to an outage.
Cryptocurrency exchange ByBit froze its dollar deposits, citing a service outage at a partner as the reason. The exchange announced that it is freezing dollar deposits via wire transfer and SWIFT.
Unexpected Dollar Deposit Decision From ByBit
On March 4, 2023, cryptocurrency exchange Bybit announced that it was suspending US dollar deposits via wire transfer. Bybit cited “cuts” from its partner as the reason for the suspension of USD deposits via wire transfers and the SWIFT network.
Cryptocurrency exchange Bybit announced on Saturday that it is suspending US dollar deposits. The company said in its statement:
“Bybit has suspended USD deposits via wire transfer due to our partner’s service interruptions. Effective immediately, USD deposits via wire transfer (SWIFT) and wire transfer (for US bank) are no longer available.”
Bybit noted that customers can continue to deposit US dollars with their Advcash wallet or credit card. Bybit customers will be able to withdraw funds via SWIFT and US banks via wire transfer until March 10, 2023, subject to applicable conditions.
50517
