Users of Russian crypto exchange Bitzlato have received partial access to withdraw up to 50% of their crypto assets which have been stuck on the platform for nearly two months, as the exchange and its activities have been seized by U.S. and European authorities in mid-January of 2023 as a response to Russia’s invasion on Ukraine.

The firm announced its Telegram channel on March 20 that users can now restore up to half of their assets by utilizing the Telegram bot, which’ll enable the platform’s users to shift assets from the web Bitzlato account to other wallets or exchanges.

As that the platform converted all altcoin holdings by users into Bitcoin (BTC) when Bitzlato’s services were halted on January 18, due to arising technical issues surrounding the servicing of multiple altcoins following its seize, all withdrawals from the exchange will be processed in Bitcoin.

Some users have withdrawn the maximum threshold of BTC available for withdrawal, i.e. 50%, while others preferred to optimistically wait until the exchange restores its peer-to-peer trading feature, which is expected to come into fruition towards early April.

Sources:

https://cointelegraph.com/news/seized-exchange-bitzlato-allows-users-to-withdraw-50-of-bitcoin

https://t.me/bitzlato_newss/48

https://t.me/bitzlato_russian/1/20583

https://t.me/bitzlato_russian/1/20956

https://t.me/bitzlato_russian/2587/2890