<h2>Zimbabwe Crypto Exchange's CEO Loses Password to Bitcoin Cold Wallet</h2>
Founder and the CEO of the Zimbabwe crypto exchange platform <a href="https://www.golix.com/">Golix</a>, Tawanda Kembo made a statement. In his statement he said that he has lost the password to his Bitcoin (BTC) cold wallet.

The local news outlet, I are published a report on Nov 1 regarding this matter. The news outlet, iHare reported Zimbabwe's first crypto exchange's CEO reportedly lost the password last year in May. Also wrote that the "password fiasco" was substantiated by two different sources associated with the concern.
<h3>CEO Cannot Access to 33 Bitcoin Worth $305,000</h3>
The scenario of the lost password pursues reports. These reports say that financial regulators of Reserve Bank of Zimbabwe commanded the platform to stop its operations for violating regulatory concerns.

Since that time, Golix has purportedly brought all the communications with its customers to an end. While a large fraction customer of Golix continues to be failed in regaining their investment from the exchange.

Kembo himself also came ahead in guest post and responded to the allegations. He said that his crypto exchange platform got unsuccessful to process the customers' retrieving.

Moreover, Kembo stated that his company was unable to process the customers' withdrawals due to collapse. He said, “99% of the people who have attempted to make a withdrawal on Golix have seen it go through without a hitch.” Kembo adds further that the claim customers unable to process withdrawals come from the 1% minority.

Meanwhile, Kembo stated he lost the password to access his wallets having 33 bitcoins, whose worth over $305,000 at the time of press release. Kembo claims that the whole scenario has been taken out of the context.
<h3>Zimbabwe Bans the Foreign Currencies</h3>
In July, Zimbabwe's government cracked down the use of foreign currencies to use in the African country, which resulted in a surge in Bitcoin peer-to-peer trading. Zimbabwe's population have reportedly been using the services such as PayPal, <a href="https://www.cryptoknowmics.com/crypto/bitcoin-btc-interest-re-ignites-in-zimbabwe-following-dollar-ban/">Western Union and Money bookers</a> for bitcoin trading outs of the country at premium prices.

Zimbabwe Crypto Exchange's CEO Loses Password to Bitcoin Cold Wallet

Top Picks