- Horizen stated that Bitfare is a “malicious entity looking to take advantage of trusting users.”
- Horizen notes that it will limit upcoming collaboration announcements to “well established custodial exchanges.”
Creator of ZEN token, Horizen, has recently issued a warning against crypto exchange Bitfare to its users. Horizen alleges Bitfare to be operating as a scam. According to an official blog post, users are advised to steer clear of Bitfare as it has reasons to believe that the exchange is a “malicious entity looking to take advantage of trusting users.”
Please do NOT send ZEN, or any other cryptocurrency, to Bitfare or attempt to utilize any other services it might offer.
This follows an announcement made back in December that Bitfare had started supporting a suite of ZEN trading pairs. According to the update:
In the hours following the announcement, we were made aware of numerous minor customer service and user experience issues which led us to pull the original announcement from all channels on the 20th of December.
As of today, the 4th of January, the minor customer issues have escalated to wallet balances and deposit histories being reset without explanation. Horizen also declared that it will limit upcoming collaboration announcements to “well established custodial exchanges and services that have a significant track record of success” to limit the potential for further scams.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
GRIMACE meme coin suffers rug pull after promotion on hacked McDonald's Instagram account
![GRIMACE meme coin suffers rug pull after promotion on hacked McDonald's Instagram account](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/crypto_matrix-637516561995093295_XtraSmall.jpg)
McDonald's Instagram account suffered a hack on Wednesday after it promoted a Solana-based meme coin named after GRIMACE, one of its packaging characters. Following the hack, insider holders began to dump their tokens, driving the token's market cap from $20 million to $599K.
Ethereum market dominance shrinks amid BlackRock's ETHA milestone
![Ethereum market dominance shrinks amid BlackRock's ETHA milestone](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Coins/Ethereum/ethereum_XtraSmall.jpg)
Ethereum is up 2% on Wednesday following Glassnode's report showing its market cap dominance loss compared to Bitcoin. Meanwhile, despite negative flows in the broader ETH ETF category, BlackRock's iShares Ethereum Trust crossed the $1 billion net inflow milestone.
Bitcoin and crypto markets rally after FOMC meeting Minutes release
![Bitcoin and crypto markets rally after FOMC meeting Minutes release](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoin_forex_XtraSmall.jpg)
Following the Minutes release, the entire crypto market capitalization jumped by over 2%. Bitcoin, which has struggled around the $59K to $60K range in the past week, jumped over 3% just shy of $62K. Ethereum also rose by over 2% following the report.
Uniswap, Arbitrum face potential securities classification after inclusion in Prometheum's custodial platform
![Uniswap, Arbitrum face potential securities classification after inclusion in Prometheum's custodial platform](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Uniswap/uniswap-150x150logo-637399982744667692_XtraSmall.png)
Prometheum Capital announced in a press release on Wednesday that it plans to add Uniswap and Arbitrum tokens as part of its custodial platform that is set to launch in the coming months.
Bitcoin: Signs of weakness persist
![Bitcoin: Signs of weakness persist](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Coins/Bitcoin/bitcoin_XtraSmall.jpg)
Bitcoin (BTC) trades above $58,000 on Friday after after testing and failing to overcome the resistance level around $62,000 earlier in the week. The risk-on mood returned to markets this week, Marathon Digital added 4,141 BTC worth $249 million to its holdings and the US SEC approved a MicroStrategy leveraged ETF, potentially giving investors more exposure to Bitcoin.
Moneta Markets review 2024: All you need to know
![Moneta Markets review 2024: All you need to know](https://editorial.fxstreet.com/images/IT/Testing/Review/FXSBadgeCertifiedBackg_XtraSmall.png)
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.