The BitFlip exchange went bankrupt due to a poor security system
Unfortunately, BitFlip is forced to declare itself bankrupt and stop functioning.
The fact is that back in April, the project was subjected to two consecutive hacks and theft of almost all funds in the wallets. Although these vulnerabilities were fixed in operational terms, but this did not help prevent theft of funds and find the attacker.
Since then, the team has tried to do everything possible to somehow support the project in order to try to get out of this situation.
But the subsequent fall in the market and a decrease in trading volumes made it impossible to achieve success in this regard. What prevented another attack on the project, as well as the further disintegration of the team.
The day came when our strength dried up.
All possible conclusions for the current day were carried out.
We thank everyone for believing in the project, for participating in it, and we also want to apologize for letting you down and failing to achieve the set result.
In the near future the project will cease to function. Please do not enter your funds into the project.
Best regards, BitFlip team that failed.