Brazil’s Biggest Crypto Market Explained

Brazil's Biggest Crypto Market Explained
Brazil's Biggest Crypto Market Explained

Foxbit, the largest cryptographic exchange in Brazil, has stopped trading because of an error in its system. When Foxbit realized that the total was less than 30 bitcoins, he took the stock exchange transactions.

Foxbit CEO João Canhada and COO Luís Schiavon have posted on the YouTube website that some users are taking advantage of the system to make informal transactions. Foxbit employees, who were aware of the onset, took all of the transactions in an emergency situation without losing time. It is said that some data have disappeared due to sudden stopping.

Company executives said data resuming work is continuing and announced that Foxbit will be reopened on March 14th. An article highlighting that the stock market was not hacked was posted on the Foxbit blog, and it was stated that the crypto money was safe in cold wallets.

Canhada and Schiavon spoke as follows:

” All accounts are under protection. Both fiat and bitcoin are safe. Some of our users are already returning extra values. There is also a fund we have set up to compensate for such disadvantages. The rest is in our bank account. Foxbit was not hacked or there was no theft. ”

Canhada did not give information about the amount of money that some users say they are returning money they have obtained unfairly. There’s 7,500 bitcoins in Foxbit’s wallet right now. The loss of the stock market can be counted as a small amount; 270 grand. As long as the stock market is closed, some orders have been canceled, whereas the users requested to have a commissionless transaction for a while when the stock market is opened.

Interest in crypto paralara and blockchain in Brazil is increasing day by day. My step for spreading Dash over the past few months He was thrown . In the past year, we also have blockchain-based land registry record tests It was made .

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