Bybit Suspends USD Deposits Via Bank Transfer: What Crypto Customers Need To Know

Cryptocurrency exchange Bybit on Saturday announced the suspension of USD deposits via bank transfer, citing service outages from their partner. 
Effective immediately, USD deposits via Wire Transfer (SWIFT) and Wire Transfer (For US banks) are no longer available, it stated.
The company has advised its users to continue making USD deposits via the Advcash Wallet, or to buy cryptocurrencies with their credit card on their One-Click Buy page. 
However, USD withdrawals via Wire Transfer (SWIFT) and Wire Transfer (For US banks) will still be available until March 10, 12 a.m. UTC.

Also Read: Gains Network Emerges As A Rising Star In Arbitrum's Thriving $2B DeFi Ecosystem
Bybit has also reminded its users that if they wish to withdraw USD at short notice, they should do so as soon as possible to avoid any potential disruptions that may occur due to the prevailing circumstances.
The exchange further stated that they will soon be launching the Advcash Wallet withdrawal service. 
The company sought to reassure its users that the USD assets held on Bybit are safe and secure, as the platform has undergone strict security measures to ensure the safety of all user funds.

Next: EU Antitrust Chief Margrethe Vestager Concerned About Dominance In The Metaverse

Photo: Shutterstock