Losing IDR 17 Billion, This Crypto Company Forced To Stop Trading

Canadian crypto company Catalyx is temporarily suspended. (Photo; Doc. TechTimes)

JAKARTA - CTS CtalX crypto exchange Ltd., a leading crypto exchange in Canada, recently announced an alleged security breach involving its employees. This incident resulted in disruptions in trading activities and normal withdrawals on the platform.

In a press release released by CatalX, it was stated, "As a result of losses, all cryptocurrency and fiat withdrawals from the Platform and all trading activities on the Platform have been temporarily suspended."

Based on an interim temporary suspension order imposed on December 21, 2023, the Securities Commission Alberta (ASC) announced the confidentiality of recognized evidence.

This order is given based on articles 33 and 198 of the Securities Law (Alberta) and mandates a 15-day suspension of trade and purchase of securities or derivatives by the affected parties.

The order will expire on January 5, 2024, unless extended by the Commission. Information only, the ASC is a capital market supervisory agency in the province of Alberta, Canada. The ASC is responsible for protecting investors and encouraging a fair and efficient capital market.

Although this crypto exchange has halted all trade and withdrawals, it is reported that Deloitte, a global professional consulting firm, is currently auditing the situation. Deloitte has experience in providing audit services, consultations, taxes, and risk management in various sectors, including crypto.