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Bluebenx, a Brazilian crypto company that recently stopped customer withdrawals, has changed its story regarding the reasons that led it to take this action. While the exchange issued an email informing customers that they had been the victim of a malicious hack, the company now says the liquidity problems were the result of a listing scam.
Brazilian crypto investment firm Bluebenx changed its version of the recent liquidity problems it is facing, after halting withdrawals for some clients last week. The initial explanation for this resolution included claims that the exchange was the victim of an “extremely aggressive hack”, in which the suspension of operations was part of the security protocol to deal with the aftermath of the incident.
However, it has now supported this explanation, offering a completely different view of the problem. Bluebenx explained that the incident was the consequence of a listing scam, where the company had agreed to pay to list its own currency, BENX, on another platform. According to a memo sent by the company to Livecoins, a local source, Bluebenx had to pay $200,000 and 25 million Benx for this listing opportunity to a third party familiar with the named exchange.
However, the alleged representative defrauded the company and deprived the company of these funds. Also, the attacker took the 25 million BENX paid and exchanged it for USDT using the exchange’s liquidity pools, depriving it of all its stablecoin liquidity.
The company stated:
BlueBenx also clarifies that among its more than 25,000 customers, only 2,500 were affected by the strike. The recovery plan assumes that these customers will be able to redeem their applications from 2023 onwards.
The company did not explain the reasons for this change in its explanation.
The company also provided an explanation for the layoffs it carried out on the day of this incident, leading some customers to believe they were victims of a Ponzi scheme. The company explained:
Bluebenx took unpopular measures and, in order to ensure safety and guarantees for our investors, fired some of the employees and vendors with privileged access, as a way to limit access to the accounts.
Although the company did not specify the number of employees fired, it reported that for now only 11 people remained on the company’s payroll and that it had vacated its headquarters and other assets in order to “comply with its legal and contractual obligations with its customers.”
What do you think about Bluebenx changing the explanation about the liquidity problems? Tell us in the comments section below.
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