Breaking: Bitbns customers’ crypto disappears from wallets

Bitbns exchange’s customers report that their crypto wallets have disappeared.
The exchange cited technical issues and acknowledged that the wallet balance is showing zero for some users.

On June 27, customers of Bitbns, one of India's largest crypto exchange reported that their crypto is disappearing from their wallets. This development comes as crypto markets across the globe are being faced with massive regulatory oversight.

Bitbns customers panic

Bitbns is considered one of the largest crypto exchanges with a 24-hour trading volume of $13.72 million, as seen on CoinGecko. In the early hours of the Asian trading session, users of the Bitbns exchange complained that their wallets have suddenly been emptied and were showing zero balance.

A Twitter user with the screen name BTC INDIA tweeted that "7.06 lakh Rupees" was missing from their account. Others even reported that in addition to the wallet balances displaying zero, all futures sell orders were executed.

Although the Indian crypto exchange has not put out an official statement on Twitter, it mentioned that the "tech team is working on addressing this issue," on their official Telegram channel.

Bitbns announcement

In a recent update, Bitbns released a statement on Twitter noting that they've identified the issue. There are

We have identified the issue.

This happened during a database upgrade yesterday night.

We are working on fixing it.

System would be paused for maintenance.

Trading, deposits, withdrawals, Balances all functions would resume post maintenance. https://t.co/YrM3hpeobw
— BNS (@bitbns) June 27, 2023

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