Binance assures users after 3rd-party glitch briefly halted withdrawals

Cryptocurrency exchange Binance announced a temporary freeze on withdrawals on Wednesday morning. The suspension took place across multiple networks as a result of a technical issue by a third-party provider, according to Binance.  In a tweet, the exchange said the incident took place around 7:00 am UTC and was resolved by the team within an hour. Earlier today, around 07:00am UTC, #Binance temporarily closed withdrawals for multiple networks due to an issue with a third-party technical provider. Our team responded quickly, resolving the issue within 1-hour. Funds are SAFU. Thank…

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Coinbase will ‘briefly pause’ ETH and ERC-20 token deposits and withdrawals during Ethereum Merge

United States-based cryptocurrency exchange Coinbase has announced it will be temporarily suspending certain token deposits and withdrawals when Ethereum’s core developers transition the blockchain to proof-of-stake, or PoS. In a Tuesday blog post, Coinbase product manager Armin Rezaiean-Asel said that during the Merge event, the crypto exchange will “briefly pause” deposits and withdrawals of Ether (ETH) and ERC-20 tokens “as a precautionary measure” to handle the migration. The exchange also warned users against scammers offering ETH2 tokens, saying crypto users did not need to take additional action to receive staked ETH…

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Zipmex gets 3 month protection in Singapore amid halted withdrawals

Cryptocurrency exchange Zipmex has gotten a chance to sort out liquidity issues as a court in Singapore has granted the firm with more than three months of creditor protection. Singapore’s High Court has ruled to give each of the five Zipmex entities a moratorium until Dec. 2, 2022 to come up with a restructuring plan, Bloomberg reported on Monday. The action aims to protect Zipmex from potential creditor lawsuits during the moratorium period after the exchange abruptly halted crypto withdrawals on its platform in mid-July. The cryptocurrency has since resumed…

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Voyager plans to resume cash withdrawals on Aug. 11

Crypto lender Voyager Digital Holdings has reported users may be able to make cash withdrawals from the app more than a month after suspending trading, deposits, withdrawals and loyalty rewards. In a Friday blog post, Voyager said clients with U.S. dollars in their accounts could withdraw up to $100,000 in a 24-hour period starting as early as Aug. 11, with the funds received in 5-10 business days. The announcement followed a judge ruling on Thursday the crypto lending firm was cleared to return $270 million in customer funds held at…

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Zipmex gradually resuming Z Wallet withdrawals, says debt moratorium is not bankruptcy

Crypto exchange Zipmex, which operates in Thailand, Indonesia, Singapore and Australia, released a statement this week denying reports that it has filed for bankruptcy and announcing its progress in resuming withdrawals from its Z Wallets.  Zipmex customers can withdraw Solana (SOL) from their wallets Tuesday and will be able to withdraw XRP on Thursday and Cardano (ADA) on August 9, the company said. Zipmex provides its customers with two wallets: the Z Wallet, used for Zipmex services and receipt of earnings and bonuses, and the Trade Wallet, where fiat currency…

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Zipmex resumes withdrawals for trade wallets

Cryptocurrency exchange Zipmex has resumed withdrawals from its trade wallet after two days, but said transfers, deposits and trade will continue to be disabled from its Z Wallet. In a Friday announcement, Zipmex said its Thailand-based users could make withdrawals from its trade wallet, with the function expected to be “re-enabled this evening” for clients in other countries. The crypto exchange has had withdrawals disabled since Wednesday, citing a “combination of circumstances” beyond its control, including the recent market volatility. “Ever since the black swan events surrounding the crypto space Zipmex…

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Zipmex suspends withdrawals as CEO denies financial trouble rumors

Thai cryptocurrency exchange Zipmex has paused withdrawals on its platform following a “combination of circumstances” beyond its control. Cointelegraph reports that Zipmex could be in trouble were dismissed moments prior as “rumors” just moments earlier by CEO and co-founder Marcus Lim following the failed acquisition of the Thai exchange by Coinbase. Due to a combination of circumstances beyond our control including volatile market conditions, and the resulting financial difficulties of our key business partners, to maintain the integrity of our platform, we would be pausing withdrawals until further notice. —…

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Skybridge announces suspension of withdrawals from of its one crypto-exposed funds

Skybridge Capital has suspended withdrawals from its Legion Strategies fund – one of the firm’s funds with crypto exposure. Founder Anthony Scaramucci confirmed the move July 19 in an interview on CNBC, after Bloomberg reported it a day earlier citing anonymous sources.  “Our board made the decision to temporarily suspend until we can raise capital inside the fund,” Scaramucci told CNBC. “The fund is unlevered, so there’s definitely no fear of any liquidation whatsoever and about 18% of the fund is in what we would call crypto exposure.” An independent…

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CoinFLEX resumes withdrawals, limiting users to 10%

Cryptocurrency exchange CoinFLEX is partially reopening user withdrawals, raising cautious optimism that the company was gradually recovering from liquidity constraints that were triggered by a high-profile client default.  Beginning at 5 am UTC on Friday, all CoinFLEX users will be able to withdraw up to 10% of their funds, the company said. All existing withdrawal requests will be canceled and returned to their respective accounts, giving users the ability to initiate new requests in accordance with the 10% limit. The remaining 90% of user balances will be considered “locked funds,”…

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CoinFLEX to begin arbitration for $84 million recovery and open limited withdrawals

Crypto investment platform CoinFLEX is moving forward with its plan to reclaim $84 million in funds by starting arbitration procedures in Hong Kong against an individual account holder. Co-Founders Sudhu Arumugam and Mark Lamb acknowledged in their July 9 announcement that the judgment would provide access to the individual’s “worldwide assets” and that their lawyers were “very confident” they could enforce the award. “We have commenced arbitration in HKIAC for the recovery of this $84m as the individual had a legal obligation under the agreement to pay and has refused…

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