In light of the panic that ensued over the Surbitcoin exchange yesterday, the company issued an official statement. Some Bitcoin users were concerned the platform had been hacked, and funds were being liquidated. As it turns out, all user funds are safe, and the issues with Banesco should be resolved shortly.

Surbitcoin Can Resume Operations As Normal

When people found out Surbitcoin was selling Bitcoin 26% below the global marketplace, a lot of enthusiasts panicked. Rumors started circulating about the exchange platform being hacked, and how thieves were liquidating the account balances. Nothing could have been further from the truth, albeit the platform did suffer from some issues.

For several days now, the Surbitcoin platform has had trouble with Banesco, its banking partner. Users were experiencing difficulties with both depositing and withdrawing funds, albeit nothing malicious was going on. A lot of people started to get antsy and decided to sell their Bitcoin holdings at rock bottom prices to make sure their funds were safe.

After attempting to calm down platform users, SurBitcoin is still in the process of resolving the issue with Banesco. All of the affected users will be able to withdraw their funds without any problems or additional fees. Moreover, the company has issued a statement for users who want to buy

For the time being, Surbitcoin users are advised to complete Bitcoin traders on the LocalBitcoins platform. Interestingly enough, the Surbitcoin platform has seen some positive trading action, as several buy orders were filled in the US$603 range. Quite an increase compared to the US$407 sell orders yesterday.

Prices have settled down a bit ever since, though. One Bitcoin is currently worth roughly US$580 on the Surbitcoin exchange, which is still below the global market average. Slowly but surely, things seem to be recovering, though, which is an encouraging sign, to say the least.  By the look of things, SurBitcoin will recover just fine, and we can only hope their issues will be resolved quickly.

Image credit 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.