The crypto exchange Bybit has paused US Dollar (USD) deposits due to “service outages” from partners. Is it the latest victim of Operation Choke Point?
Bybit exchange announced the suspension of USD payment via bank transfers and gave a deadline to withdraw USD by Mar. 10, 2023, 12 AM UTC. The exchange will terminate the USD withdrawal via Wire Transfer (including SWIFT).
However, the deposits will work through the Advcash wallet, and Bybit users can buy cryptocurrencies through credit cards.
Does Bybit Have Ties With Silvergate?
Bybit claims the suspension is due to “service outages” from the end-point processing partner. Coincidentally, Silvergate shut down the Silvergate Exchange Network (SEN) this Friday. SEN allowed traders to move USD between their bank accounts and exchanges as long as the exchange and the trader had accounts at Silvergate.
The community questions if Bybit used SEN for USD payments.
