BitMEX Opens Fund Recovery Process for Previously Barred Customers
(8 days ago) · 1 source · Summarized by CryptoBipto — how we make this
BitMEX has announced a process allowing customers who were previously barred from the platform to recover their funds. The initiative addresses users who lost access to their accounts and assets after being restricted from the exchange.
WHY IT MATTERS
When a crypto exchange blocks a user from its platform, that person may no longer be able to log in or move their cryptocurrency out. This is different from a traditional bank, where regulations typically ensure you can still access your money even if the bank closes your account. In crypto, if an exchange holds your assets and cuts off your access, recovering those funds can be very difficult. BitMEX is now offering a way for these locked-out users to get their money back. This is a reminder of a common saying in crypto: 'not your keys, not your coins,' meaning that if you do not hold your own cryptocurrency in a personal wallet, you depend on the exchange to give you access.
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