Belgian crypto platform suspends activities

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Belgian crypto platform Bit4You has suspended all activities after CoinLoan, one of the company’s main service providers, was declared bankrupt by a court in Estonia.

Founded in 2018, the company has more than 40,000 customers. “In order to best protect the interests of our customers and for the sake of fairness, we have suspended the execution of transactions through the platform,” the company writes on its site. The users can no longer access their cryptocurrencies.

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This is reminiscent of the fall of crypto giant FTX. That company went bankrupt last year, even then users could no longer access their wallet. According to Belgian media, nine million people can no longer access their crypto coins.

The Belgian crypto platform Bit4You has suspended all activities.  Millions of users can no longer access their wallets.
The Belgian crypto platform Bit4You has suspended all activities. Millions of users can no longer access their wallets. (Unsplash)

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