Important Information for Bittrex Global GmbH (Liechtenstein) Customers

Why did Bittrex Global GmbH decide to go into liquidation?

In November 2023, Bittrex Global announced its decision to wind down operations. See full statement here. As part of our commitment to ensuring an orderly wind down, now is the most appropriate time to hand over to independent third-party liquidators under a process governed by Liechtenstein law to oversee the company’s dissolution.

Why does this only apply to Bittrex Global Liechtenstein and not Bittrex Global Bermuda?

Bittrex Global operated cryptocurrency exchanges in Liechtenstein and Bermuda. Different legal requirements apply in those two jurisdictions, so the precise manner in which the wind-down of the companies takes place differs. Completing the wind-down in Liechtenstein requires handing over to a third-party liquidator who will oversee the wind-down and help ensure that all assets are distributed as quickly and efficiently as possible.  Bittrex Global (Bermuda) Ltd. is also in liquidation (see further details here).

How do I know if I hold my account with Bittrex Global Liechtenstein or Bittrex Global Bermuda?

Log-in to your account, click on the down arrow next to your email at the top-right of the page, and click on 'Account Settings'. You will be taken directly to the 'My Profile' page. This page lists account specific details, such as your name, and username. You will see which entity your account is associated with under 'Exchange'.

How does this affect Bermuda customers?

This announcement only applies to users of Bittrex Global GmbH (Liechtenstein). For details of the liquidation process for Bittrex Global (Bermuda) Ltd., please click here.

Why did you appoint Peter Nägele of ALPS TRUST Ltd?

Peter Nägele of ALPS TRUST Ltd. is an experienced and expert liquidator in Liechtenstein. We have every confidence that he’s the best person for the job, given his extensive knowledge of Liechtenstein law and liquidation processes.

When will the liquidation period end and what happens then?

The timeline for the liquidation process is governed by Liechtenstein law. The process is designed to ensure that all funds are returned to known creditors as quickly as possible.  

How are Bittrex Global users impacted by this news? Are their funds safe?

The appointment of Peter Nägele of ALPS TRUST Ltd does not place any user funds at risk, and in fact the point of handing over to an independent liquidator is to ensure the efficient and just wind-down of Bittrex Global and expeditious distributions.  

Didn’t Bittrex / Bittrex Global already announce that it was closing down last year?

Yes. Bittrex U.S. and Bittrex Global, two separate entities, both announced that they intended to shut down in 2023.  

Bittrex U.S. operated in the U.S. until it announced in March 2023 that it was winding down operations citing regulatory uncertainty.  

Separately, in November 2023, Bittrex Global made the decision to wind down its operations. The appointment of Peter Nägele of ALPS TRUST Ltd as liquidator of Bittrex Global GmbH is an important step in this process. 

What is the difference between Bittrex and Bittrex Global — are they not the same company?

Bittrex U.S. and Bittrex Global are legally and operationally distinct.  

Bittrex, Inc. (known as Bittrex U.S.), served U.S. customers until it ceased operations last year. Bittrex Global was launched to serve customers outside the U.S. 

Is Bittrex Global Liechtenstein bankrupt?

No. Bittrex Global Liechtenstein is not bankrupt or insolvent; the application to appoint a liquidator is entirely voluntary and on a solvent basis. The appointment of an independent, third-party liquidator at this stage is a visible commitment of Bittrex Global Liechtenstein to doing things the right way and ensuring independent oversight in the process of returning the final remaining assets and orderly winding up the company.

Which Customers will be affected by this news?

Customers with a balance who have completed the Know Your Customer (KYC) verification process and accepted the latest Terms of Service can login to their account and download their order history. Customers that have not completed their KYC verification or accepted the latest Terms of Service will be given the option to do so upon log-in.

Customers without a balance will be able to log in to their accounts and download their account history. No additional account features will be available. While Bittrex Global does not provide tax advice, we note that you should retain a copy of your account history even if you do not currently have a balance for tax reporting purposes.

When will I be able to withdraw my funds?

In order to comply with applicable laws, you may be required to provide further information or documentation to prove your identity before being able to withdraw. Withdrawal requests are usually satisfied within five working days.   

I am having trouble accessing my account, what resources are available to help?

Please see these articles for troubleshooting tips:

Log-In Issues

Issues with Two-Factor Authentication

How can I withdraw?

Please see the following articles for detailed instructions on how to withdraw:

Cryptocurrency

Euros

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