- Bittrex hires two former Homeland Security officials and Amazon security chief as executives.
- Bittrex was criticised by customers over withdrawal and customer service issues.
- Business Insider has also reported on the existence of “pump and dump” scams on the exchange.
LONDON — An under-fire US cryptocurrency exchange has hired two former top government officials and a former Amazon executive to beef up its management.
Las Vegas-registered Bittrex hired:
- Kiran Raj as chief operating officer: Raj was a partner at law firm O’Melveny & Myers and was formerly the Deputy General Counsel of the Homeland Security Department. He has also worked at the Justice Department.
- John Roth as chief compliance and ethics officer: Roth was Inspector General of the Department of Homeland Security prior to joining Bittrex and spent 25 years at the Justice Department.
- Jim Waschak as chief operating officer: Waschak is a 12 year veteran of Amazon, most recently serving as director of information security for Amazon’s Worldwide Consumer Organization.
The senior appointments come at a time when Bittrex is facing criticism from customers and grappling with the problem of market manipulation on its exchange.
Business Insider reported earlier this month that multiple users of the exchange were complaining they were unable to withdraw money and were left in the dark as to why. Bittrex said the withdrawal issues are down to new identity verification procedures and said they were hiring additional support staff to deal with the backlog.
Business Insider has also reported on the existence of “pump and dump” scams organised on the Bittrex exchange. A trader who claimed to organise the scams told BI he had made “hundreds of thousands” in profits and bought a Tesla. “We all use Bittrex for market manipulation,” the traders told BI.