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If you are a regular on our official telegram, you would already be in-on with the Instant Bitex situation.

Here is what we currently know about the Instant Bitex.

1. The exchange has stopped processing withdrawals.

Instant Bitex has stopped processing withdrawals of all users. This way, users are not able to get the funds out. Support is useless right now and their official telegram chat no longer allows anyone to post anything.

2. Instant Bitex has removed all markets except few large caps

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Instant Bitex has removed access to all altcoin markets except for few major caps like bitcoin, litecoin, ripple, stellar and ethereum.

They have removed BTCF and other small-cap tokens/coins from their public API so even coinmarketcap and similar websites that rely on public exchange API cannot do anything.

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While we are in touch with many exchanges for listing BTCF, you can already trade BTCF on StellarTerm, which is a fantastic DEX where you own the keys to your wallet.

How we will deal with this situation.

We know many had BTCF stored on Instant Bitex. Some had been waiting for withdrawal from past two weeks. Here is what we will be doing.

1) We will be reimbursing all affected users with BTCF that they lost on that exchange. For this, we need screenshot of your withdrawal request and stellar address where we can send the funds. Make sure you’ve established trustline to BTCF. All this is faster with Lobstr wallet that also lets you trade from their wallet.

2) All funds will be processed from our Promotion budget wallet.

3) You must send email to [email protected] with screenshot and stellar address to process your request.

4) We will be honoring requests till end of this month, i.e, November 30, 2019. After that, it will be upto us to honor your request.