Bluebenx, a Brazilian cryptocurrency company, has recently revised its account regarding the reasons why it was forced to take the action it did, which was to stop allowing customers to withdraw their funds. While the exchange did send out an email statement telling clients that it had been the victim of a violent hack, the business has now stated that the listing scam was the cause of the liquidity problems that have been occurring.
In light of the ongoing liquidity concerns, Bluebenx has made certain version changes.
After temporarily halting withdrawals for some customers a week ago, the Brazilian cryptocurrency private equity firm Bluebenx presented a revised explanation regarding the recent liquidity challenges the enterprise has been experiencing. The initial rationale for this resolution included charges that the exchange had been the victim of a “very aggressive breach,” with the operations halt being an element of the security process to address the impact of the occurrence.
On the other hand, it has recanted its previous explanation and is now providing an entirely new perspective on the matter. Bluebenx explained that the incident was the result of a listing scam, in which the firm had consented to pay for the listing of its own currency, BENX, on another marketplace. Bluebenx also stated that the listing scam was the cause of the problem. According to a note that the company submitted to Livecoins, a local source, Bluebenx was required to pay a third party familiar with the undisclosed listing exchange $200,000 and 25 million Benx in order to secure this listing chance on the unnamed listing exchange.
Nevertheless, the purported representative engaged in fraudulent activity and caused the company to lose these cash. Additionally, the attacker stole 25 million BENX that had been paid and converted it into USDT via the exchange’s liquidity pools, robbing the exchange of all of its stablecoin liquidity in the process.
The organization has stated:
In its explanation, the corporation did not provide any insight into the factors that led to this shift.
Large-Scale Reductions in Staff Explanation
The business also provided an explanation for the layoffs that it carried out on the same day that this incident took place, which led some clients to fear that they were victims of a Ponzi scheme scam that was being perpetrated against them. This is what the firm had to say:
Bluebenx took measures that were controversial and, in order to provide security and assurances for our investors, terminated the employment of a portion of the workers and suppliers who had privileged access. This was done in order to limit access to the accounts.
Although the organization did not disclose the total number of employees that were let go, it did report that, as of right now, there are only 11 people still currently employed by the company, and that it has relinquished its corporate offices and other assets in order to “cooperate with its legal and binding requirements with its shoppers.” While the organization did not detail the number of staff members that were let go, it did report that there are only 11 people still working for the company.
What are your thoughts on Bluebenx’s decision to change the explanation concerning the company’s liquidity issues? Tell us in the part below devoted to comments.