Cryptocurrency exchange Cryptsy suspends trading

Bitcoin House News January 6 CoinDesk News Digital currency trading platform Cryptsy has suspended trading . Recently, the digital currency exchange has been plagued by bankruptcy rumors and continued slow withdrawal issues.

" During the period of suspension of transactions and withdrawals, we will investigate the specific reasons for the slow withdrawals. Thank you for your patience, thank you! " This is the information on the Cryptsy website page.

This is a professional altcoin exchange that has long been controversial. In the past 24 hours, the exchange's Bitcoin trading volume was about 235 Bitcoins. However, the exchange has been criticized for its slow withdrawal of users.

Evidence from social media posts and emails received by CoinDesk suggests that some users have begun withdrawing their funds due to slow withdrawals, an ongoing problem — some users cited a lack of transparency from the exchange’s management team — and further claimed that the exchange was unpayable and had become a target of regulatory scrutiny.

The withdrawal problem has caused the well-known altcoin trading platform CoinMarketCap to withdraw from the market. Another reason is that the price of altcoins on the platform is too high.

The site said on Twitter that fixing the issue would increase Cryptsy 's user base.

In the past, Cryptsy has attributed problems to technical issues and denial-of-service attacks.

These problems are also a re-emergence of the problems encountered by Mt Gox . At present, Mentougou, the once dominant Bitcoin trading platform, has already filed for bankruptcy protection. Before bankruptcy, Mentougou also attributed the slow withdrawal problem to technical problems. Finally, it completely restricted users' withdrawals.

Cryptsy did not immediately respond to a request for comment.