- CatCoin warns BitForex regarding the withdrawal of CAT tokens
- The meme-based project threatens legal action against BitForex and Jason Luo
- CatCoin calls on the Hong Kong Police to intervene on the matter
CatCoin (CAT), a meme-based community-influenced crypto project, has warned the BitForex Crypto Exchange regarding CAT tokens withdrawal.
In a recent post on X, CatCoin representatives threatened to pursue legal action against BitForex and its former CEO, Jason Luo.
According to CatCoin, it has made multiple efforts to contact BitForex but received no response. The meme-based project’s team issued the post as a final notice to the crypto exchange, requesting BitForex to respond to its complaints via an official email it provided.
Meanwhile, the CatCoin team called on the Hong Kong Police Force to intervene and act appropriately against BitForex and Jason Luo. In addition, the team accused BitForex of tarnishing the reputation of the crypto industry and called upon crypto influencers to address the situation.
BitForex went offline in February, less than one month after Jason Luo stepped down as the company’s CEO. The crypto exchange shut down abruptly, leaving users confused and concerned over the fate of their assets. In his resignation speech, Luo noted he would continue to support the firm with his experience and knowledge.
The CatCoin team believes Luo is still involved with the exchange, alleging that the former CEO is in charge of operations at BitForex despite the inactive state of the firm in the past few months. The exchange’s X account has had no activity since February 21, when it posted, “We are the top encryption projects in 2024?”
Notably, the CatCoin team is one of several entities affected by BitForex’s unannounced collapse. The crypto exchange has failed to provide any tangible reason for its collapse despite several complaints, especially on the exchange’s official Telegram channel.
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