BitForex, a major cryptocurrency exchange based in Hong Kong, has stopped allowing users to withdraw their funds, and the exchange’s website has also suddenly gone offline, leaving users in despair. This is not the first time a crypto exchange has suddenly packed up; it happened in 2022 when the second-largest crypto exchange at that time, FTX, collapsed. As a result, smart investors always look out for safe alternatives, like the new innovative crypto platform Galaxy Fox, whose ongoing presale is already delivering incredible gains for investors.
BitForex Shuts Down, Users Lose Access Amidst $56 Million Outflow as Communication Shuts Down Completely
On February 23, the Hong Kong-based cryptocurrency exchange BitForex stopped operating, suspending its website and trading platform. As a result, users can no longer withdraw their funds or use the exchange to trade cryptocurrencies. Before the shutdown, an unknown entity withdrew around $56 million worth of cryptocurrencies, and people who tried to visit the BitForex website were restricted from accessing the platform.
Whether a hacker withdrew funds from BitForex’s hot wallets or the cryptocurrency exchange voluntarily stopped withdrawals is still being determined. Meanwhile, BitForex has yet to release an official report regarding the issue, leaving users without information on what is happening on the platform.
Users of BitForex on the telegram channel have reported problems with their accounts, like logging in to see their dashboards empty. Some also shared screenshots showing they were blocked from accessing the BitForex website. While BitForex has yet to give any information or respond to users’ complaints on telegram, uncertainty about the exchange’s operation and the safety of users’ funds continue to grow.
Galaxy Fox ICO Thrives In Presale, Boasting High ROI And Exciting Features
Many Initial coin Offerings (ICOs) have risen in recent years. But Galaxy Fox’s ICO has generated more hype than any other in recent memory. Although $GFOX is a meme token, it has good fundamentals and multiple use-cases.
Galaxy Fox has also managed to break several milestones in its ongoing presale, bringing rise to sentiments that it will surpass many top crypto coins this year. This is why many investors are running towards Galaxy Fox, trusting it for safer investments and delivering significant gains despite the industry’s uncertainties.
Galaxy Fox’s presale consists of ten stages, with the price of $GFOX increasing as it progresses from one stage to the other. Investors who joined the presale early have already seen a remarkable ROI of over 230%
Currently in Stage 8 of its presale with over 94% of the tokens allocated for the stage sold already, the price of $GFOX is expected to increase by an additional 9% when Stage 9 begins in the next couple of days. With three more stages remaining, early investors could realize a total ROI of about 450%.
Aside from its presale, investors run to Galaxy Fox for its play-to-earn functionality. This feature can be enjoyed in the platform’s web3 runner game, allowing players to earn $GFOX tokens by being in the top 20% of the leaderboard at the end of the season. The platform brings more fun to the game by allowing players to increase their winning advantage by purchasing Galaxy Fox NFTs. These NFTs possess various attributes like speed, power, agility, etc., making the gameplay more competitive.
Galaxy Fox also allows investors to earn passive income when they stake their $GFOX tokens. The passive income will come from the platform’s central hub for distributing rewards called Galaxy Fox Stargate and it will be distributed proportionately according to the amount of tokens staked.
Conclusion
BitForex unexpectedly shutting down its platform and blocking users from accessing their funds shows how risky the crypto industry can be. It’s a great reminder of the crypto mantra “Not your keys, not your coins.” Despite that, investors can still make gains in the industry by investing in projects with great fundamentals, low risk, and high reward potential like Galaxy Fox. Several crypto experts have already predicted that its native token $GFOX will be among the top altcoins when it eventually launches on exchange platforms.
Would you like to join the best ICO in the crypto world today? Join Galaxy Fox Presale! Visit the website and join the telegram community for more updates.
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