Cryptocurrency Exchange BHEX Will Shut Down

Cryptocurrency exchange BHEX will shut down. BHEX has decided to shut down after China's cryptocurrency bans.

The decision of the People's Bank of China to ban all transactions regarding cryptocurrencies, announced yesterday, had a great impact in the markets. One of the exchanges affected by this decision was the medium-sized cryptocurrency exchange called BHEX. After Debank shut down some services to the Chinese, a medium-sized exchange BHEX (BlueHelix Exchange) also announced that it will completely cease its operations. According to CoinGecko data, the exchange, which has reached a transaction volume of $ 1.3 billion in the last 24 hours, announced on its official website, said, "BHEX will permanently terminate its services from today." It was emphasized that the decision was taken as a requirement of the global regulatory environment. The statement thanked customers for their support over the past three years. It was noted that BHEX protects user assets, 100% of withdrawals will be covered.

BHEX Will Be Completely Closed On November 23

User registration and deposit on BHEX.com are already closed. It was stated that only trading and withdrawals will be allowed for a period of time. As of October 2, 2021, services such as OTC section, derivative transactions, credit transactions, staking will also be disabled. Spot trading will end on October 9, 2021. On October 23, 2021, the stock market will completely shut down, including its mobile applications and website. The assets of users who have not withdrawn by this date will be automatically converted to USDT at the market price and will continue to be held by BHEX. The withdrawal request for these assets can be sent via email. The deadline for e-mail requests is November 23, 2021. No requests will be accepted after that. HBC, the token of the exchange's own blockchain project Bluehelix, fell by 60 percent after the news. The cryptocurrency fell from $11 to $4.34.