On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer.
Bybit cited “outages” from its partner as the reason for the suspension of USD deposits via bank transfers and the SWIFT network.The cryptocurrency exchange Bybit, founded in 2018,on Saturday that it is suspending U.S. dollar deposits. “Bybit has suspended USD deposits via bank transfer due to service outages from our partner,” the company said. “Effective immediately, USD deposits via wire transfer and wire transfer are no longer available.
Bybit noted that customers can continue to make U.S. dollar deposits via the Advcash wallet or with a credit card. Bybit clients will still be able to make withdrawals via wire transfers through SWIFT and U.S. banks until March 10, 2023. “If you wish to withdraw USD at short notice, please do so as soon as possible to avoid potential disruptions that may occur due to prevailing circumstances,” the cryptocurrency exchange announced.
The Dubai-based cryptocurrency exchange said it would launch an Advcash wallet withdrawal service to expedite the user experience. “Please rest assured that the USD assets you hold in Bybit are safe and secure,” Bybit said. “Our platform has undergone strict security measures to ensure the safety of all user funds.” Bybit did not disclose the identity of the partner experiencing outages.that occurred with Binance, the world’s largest cryptocurrency exchange by trade volume.
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