Bitcoin and Crypto Exchange Bittrex Inc. Has Filed for Chapter 11 Bankruptcy

Bitcoin and cryptocurrency exchange Bittrex, founded in 2014, has filed for bankruptcy in the state of Delaware. 

The decision was made following the company's announcement that it would terminate all U.S. operations on April 30th, after being charged by the U.S. Securities and Exchange Commission (SEC) for running an unregistered exchange, broker, and clearing agency. 

However, according to the company statement, Bittrex Global will continue to operate normally for customers outside the U.S. and is not affected by the bankruptcy filing.

Bittrex has assured customers who did not withdraw their funds from the platform before the end of April that their funds are still "safe and secure." 

The company expressed its intention to activate these accounts as soon as possible. Although, the Bankruptcy Court will ultimately determine how these funds will be claimed and distributed to customers. 

Customers who satisfy the required regulatory criteria will be able to withdraw their funds once the activation process is complete.

To keep customers informed, Bittrex has engaged Omni Agent Solutions to provide updates via email and their website. Customers affected by the bankruptcy filing are encouraged to regularly check the Bittrex website for the latest information as it becomes available. Additionally, customers will receive updates directly from the bankruptcy court.

The company’s support page stated: 

Our main priority is to ensure that our customers are made whole. We are committed to working through the bankruptcy process in a way that is transparent and compliant with all applicable laws and regulations. We apologize for any inconvenience this may cause and appreciate your patience during this time.