Brazilian exchange Foxbit is still down, allows withdrawals

Brazil’s largest cryptocurrency exchange Foxbit recently went down and lost a total of 30 Bitcoins because of a bug that allowed users to withdraw their Bitcoin balances twice. At the time, Foxbit claimed it would be back online by March 14, but now warned the platform will be offline until March 26.

Through a YouTube livestream, the cryptocurrency exchange’s COO Guto Schiavon and CEO João Canhada revealed users will be able to withdraw their funs during Foxbit’s downtime. Withdrawals, according to the exchange’s executives, will be processed manually.

The exchange will only allow users to withdraw their entire balances. To make it up to its customers, the exchange will process withdrawals without charging fees.

Foxbit’s executives also said they would improve their communication in the future, and that users shouldn’t use the exchange as a wallet. Instead, they advised them to store funds in a wallet so they’ll be in charge of their own money.

Write: Sara Bauer


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