Today, cryptocurrency exchange Fedlio officially opened, it is from the same folks who operated BiteBTC, an exchange with mixed user reviews.
With Fedlio being the successor to the BiteBTC exchange, management did inform that that all accounts, balances, transactions, and other data have been transferred to Fedlio. Additionally, Fedlio is assuming all obligations to return the funds that were frozen at BiteBTC.
As part of new and updated exchange KYC procedures, all blocked user accounts will be moved to the status of temporarily suspended. This group of users will have the opportunity to provide data to restore their accounts.
Fedlio is reported to be owned by the Seychelles Commercial Bank. The main priorities in the development of the new exchange are the improvement of the quality of trading instruments, unfreezing user accounts, the launch of OTC trading for large financial institutions, and the preservation of a simple and reliable way of withdrawing fiat funds.