Nigerian Crypto Exchange Describes Deposit Suspension as ‘Industry-Standard Precautionary Measure’

The Nigerian cryptocurrency change platform Bitmama just lately mentioned it has briefly suspended deposits attributable to “ongoing third-party maintenance.” Bitmama mentioned that whereas earlier media stories about its suspension of deposits are appropriate, they nonetheless “lack context,” and should have confused customers.

Securing User Funds

The Nigerian cryptocurrency change platform, Bitmama, just lately introduced that it has briefly halted deposits attributable to “ongoing third-party maintenance.” The crypto change clarified that the choice to cease deposits shouldn’t be a sign of monetary instability however “an industry-standard precautionary measure” taken to guard person funds.

Bitmama instructed that whereas earlier media stories about its suspension of deposits are appropriate, they nonetheless “lack context,” and should have confused customers. In its Dec. 15 assertion shared through X, Bitmama detailed its dedication to customers and the following steps, saying:

Ensuring the safety of your funds is our high precedence. We apologize for any confusion brought on by current media stories. We are actively working to expedite upkeep for a swift return to regular deposit performance.

The crypto change additionally urged journalists who’ve reported on the deposit halt to emphasise to their audiences the steps Bitmama is taking to guard person funds.

Dear Bitmama neighborhood, our consideration has been drawn to stories making the rounds about our current deposit suspension.

Please see our official statements for correct context and updates concerning the scenario. #Bitmama pic.twitter.com/ghmsxknBXX

— ₿itmama.eth (@bitmamaexchange) December 15, 2023

Meanwhile, Thelma Okonwa, the crypto change’s Marketing Lead, has been quoted in a single report stating that no person funds are trapped. Another report, nonetheless, instructed that some Bitmama customers have been experiencing issues with the deposit performance since way back to November 25.

Some of the affected customers have since expressed their disgruntlement with the way in which Bitmama is dealing with the difficulty. For occasion, one X person said Bitmama ought to have been extra forthcoming about what has been occurring. Another person has questioned the period of time the crypto change is taking to unravel the difficulty.

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