Crypto News Today- CatCoin Presses BitForex on Token Withdrawals, Hints at Lawsuit

CatCoin Presses BitForex on Token Withdrawals, Legal Action Hinted

Crypto News– Cryptocurrency exchange BitForex received a warning from memecoin project CatCoin concerning issues with the withdrawal of CatCoin (CAT) tokens.

Representatives from CatCoin issued the warning, indicating potential legal action against BitForex and former CEO Jason Luo if their concerns remain unaddressed. While specific grievances were not disclosed, the language used suggests significant issues that CatCoin aims to resolve through legal means if necessary.

Despite multiple attempts to reach BitForex, CatCoin alleges receiving no response. As a final attempt to resolve the matter, CatCoin’s team issued a public notice. They urged BitForex to address their concerns via a designated email address, marking a final effort before considering further action.

CatCoin Calls for Action Against BitForex Amid Allegations of Industry Damage

The CatCoin team criticized BitForex for damaging the reputation of the crypto industry and urged prominent crypto influencers to condemn the exchange’s alleged actions and push for a resolution to the ongoing dispute.In February 2024, BitForex went offline shortly after CEO Luo’s departure, leaving users bewildered about the fate of their assets.

Despite Luo’s resignation statement expressing ongoing support for the company, the CatCoin team asserts his continued influence over BitForex’s operations, despite the platform’s dormancy. BitForex’s X account has been inactive since Feb. 21, raising questions about the exchange’s status. Multiple parties, including the CatCoin team, were affected by BitForex’s sudden shutdown. Despite numerous complaints, BitForex has yet to provide an explanation, leaving users frustrated.

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