Heavy news and rumors have been circulating on Bitget for a few days, especially on X, but how much do we know so far? Should we worry?
Monday 02/01/2023 MMCrypto, a well-known X page with over 1 million followers, publishes this post:
Browsing on X there are mainly 4 accusations:
- Bitget on the brink of insolvency.
- Two key executives of Bitget, co-founder Xu Yang and director of operations, have disappeared.
- Bitget has suspended withdrawals and deposits.
- The smartphone app is inaccessible.
MMCrypto has often promoted the use of Bitget over the years but recently claimed to have received concerning information from several sources, but provided no concrete evidence to support its information.
Bitget, through a post by director Chen, rejects the accusations, labeling them as simple "FUD" and claims to be in good health and that there are no problems with customer funds.
You also stated that you are working to resolve the withdrawal/deposit issue as well as the app malfunction, updating the community as soon as possible.
But apparently, MMCrypto is not the only one "concerned" by the situation:
The situation is not idyllic and it would not be the first time that a platform claims that everything is fine, just before a disaster including Mt. Gox (bankrupt in 2014) up to the more famous FTX.
As of now there is no certainty and it has not been declared insolvent, however the allegations have raised concerns among investors and could have a negative impact on the reputation of the platform, unless they demonstrate with actual data that it is only "FUD" .
Words cannot be enough, if in doubt, keep your cryptocurrencies in a private wallet.
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