Dear Traders, I trust you had a good night rest.
Over 2 weeks ago, we announced the suspension of TAT withdrawal. This was due to a glitch we discovered earlier on Quick Buy/Sell of TAT... a situation where, due to the low liquidity and high volatility of TAT when it was newly listed, some traders manipulated the price of TAT and took advantage of Quick Buy/Sell of tat to acquire huge amounts of TAT at incredibly low prices even when we didn't have enough liquidity of the TAT on our exchange.
Our intention for enabling Quick Buy/Sell was to support the TAT community who did not have the expertise to trade professionally but would want to buy TAT quickly but it has caused us great harm due to unforeseen reasons.
We have reached out to the TAT team to explore possible quicker solutions but seeing that the community is getting impatient, we have decided to quickly solve this issue once and for all.
We have decided to take actions below:
1. Pause all TAT Deposits
2. Stop all TAT trading pairs
3. Reverse all TAT Quick Buy/Sell & Trades
4. Analyse all wallet balances to determine the next steps to take.
Once the above steps are completed, we will update you on the next actions we intend to take.
This is a difficult and complicated process that may take a up to 1 week to complete as our financial department and tech team will take time to painstakingly go through this process case-by-case until all issue is resolved and the total account is properly balanced.
We plead for your patience and support through this period and assure you a smoother trading and withdrawal experience once this process is complete.
We are here for you and we always have your best interest at heart.
I wish you a great one ahead.
CEO, BITFXT TECHNOLOGY
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