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Crypto CoinFLEX Allows Limited Withdrawals

Cryptocurrency exchange CoinFLEX said it has enabled limited withdrawals for all users this week and continues to work with a laser focus on recovery plans.
byAkanksha Bakshi
July 15, 2022
1 minute read
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  • Cryptocurrency exchange CoinFLEX said it has enabled limited withdrawals for all users this week and continues to work with a laser focus on recovery plans.
  • Users will be able to withdraw their funds to the tune of 10%, except for flexUSD, which cannot be withdrawn until further notice.
  • Related: CoinFLEX Begins Legal Action To Recover $84M From ‘Bitcoin Jesus’
  • The company stated that it is continuing to work on all avenues to resolve this situation. This ranges from possible further withdrawals and potential new equity investors to the acquisition of CoinFLEX and combinations in between.
  • Starting at 5 am UTC (1 pm HKT/SGT) on Friday, July 15, CoinFLEX will cancel all current pending withdrawals and return all funds to the respective account balances, and shut trading and system access before beginning the process of re-enabling withdrawals.
 
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