Catalyx Crypto Exchange Halts Trading after Security Breach

• Catalyx Halts Operations Following Security Breach
• Internal Investigation Launched by CatalX CTX Ltd.
• Regulatory Intervention and Temporary Freezing of Operations

Catalyx Halts Operations Following Security Breach

CatalX CTX Ltd., the enterprise behind Catalyx, a Canadian crypto exchange, has put an immediate halt to all trading activities, deposits, and withdrawals. This abrupt action follows a recent security compromise that led to the loss of an undisclosed amount of customer funds.

Internal Investigation Launched by CatalX CTX Ltd.

In a press statement, CatalX CTX Ltd. reported that it has initiated an investigation into the breach, which might implicate one of the company's employees. However, the firm did not disclose the amount suspected to have been lost during the incident.

Regulatory Intervention and Temporary Freezing of Operations

In recent events, Canadian regulators commanded a cease of all crypto contract trading pertaining to Catalyx and launched an independent investigation into the company's affairs. Jae Ho Lee, the CEO of the company, agreed to the Alberta Securities Commission's order of a 15-day freeze, effective until January 5.

Edited by Jonathan Stoker