Bybit Halts Deposits via USD Bank Transfer

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Last Updated on March 5, 2023 by Bitfinsider

Bybit halted USD payments via bank transfer, claiming “service interruptions” from a partner.

A business statement on Saturday stated, “Effective immediately, USD payments via wire transfer (SWIFT) and wire transfer (for U.S. institutions) are no longer accessible.”

By the time of publication, The Block had sought out to a Bybit representative for additional remark but had not received a response.

Bybit continued to emphasize that USD deposits through the crypto wallet Advcash and credit card sales of coins are still supported on the exchange.

Bybit announced that it will shortly debut the Advcash Wallet withdrawal service and that withdrawals via SWIFT or U.S. bank money transfers will be accessible until March 10 at midnight UTC.

According to the exchange, USD assets stored in Bybit are protected. Previously, the business put out a system that enables its clients to validate the crypto assets held in storage by the crypto trading platform.

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