Bitcoin exchange Chatex halts withdrawals and blocks user funds

On 10 November, the Telegram bot for exchanging cryptocurrencies Chatex stated that it was suspending operations amid an investigation into the company conducted in the United States.

“One of our early equity investors faced a lawsuit from the United States. And since he is one of our equity investors, the legal claims against him also apply to Chatex and to all the companies in which he holds a stake,” said the exchange’s representatives.

During the proceedings, user funds on Chatex are blocked from transfers, though the team says they are safe.

The exchange’s management also canceled the planned CHTX token sale.

“We are very sorry that we had to make such a decision, but the events leading to it have nothing to do with our team, and we cannot change them,” they added.

ForkLog has sought comment from Chatex representatives.

As a reminder, on 8 November the U.S. Treasury included in the sanctions list 30 cryptocurrency addresses of the Chatex exchange, as well as affiliated companies Izibits OÜ, Chatextech SIA and Hightrade Finance Ltd.

Chatex is linked to the Russian exchange Suex, which was placed under American sanctions at the end of September. A co-founder of both companies is Russian Egor Petukhovsky.

During the proceedings against Suex, Petukhovsky stepped down from the position of shareholder and employee at Chatex. He refuted the allegations of the company’s involvement in illicit activities and said he intended to defend the business reputation in an American court.

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