CatCoin (CAT) Takes Legal Action Against BitForex Over Frozen Token Withdrawals

• 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.

CatCoin warns BitForex regarding the withdrawal of CAT tokens, highlighting legal threats and calls for police intervention.

CatCoin’s Legal Threats Against BitForex

CatCoin has taken a firm stance against BitForex, threatening legal action due to the exchange’s failure to address withdrawal issues concerning CAT tokens. The project has made multiple attempts to reach out to BitForex, but the exchange has remained unresponsive. This situation has prompted CatCoin to issue a final notice, urging BitForex to respond via an official email.

Involvement of Hong Kong Police

In addition to the legal threats, CatCoin has called on the Hong Kong Police Force to intervene in the matter. The project accuses BitForex and its former CEO, Jason Luo, of tarnishing the reputation of the crypto industry. CatCoin has also urged crypto influencers to address the situation, highlighting the broader impact of BitForex’s actions on the industry.

BitForex’s Abrupt Shutdown

BitForex went offline in February, less than a month after Jason Luo stepped down as CEO. The sudden shutdown left users confused and concerned about the fate of their assets. Despite Luo’s resignation, he stated that he would continue to support the firm with his experience and knowledge. However, the exchange has remained inactive, with no updates on its X account since February 21.

Allegations Against Jason Luo

The CatCoin team alleges that Jason Luo is still involved with BitForex’s operations despite the exchange’s inactive state. This claim is based on the lack of communication and updates from BitForex, which has fueled speculation about Luo’s continued influence. The situation has raised concerns among other entities affected by BitForex’s unannounced collapse.

Conclusion

The ongoing dispute between CatCoin and BitForex underscores the challenges and uncertainties within the crypto industry. CatCoin’s legal threats and calls for police intervention highlight the need for accountability and transparency in crypto exchanges. As the situation unfolds, the broader crypto community will be watching closely, emphasizing the importance of trust and reliability in the industry.