The ICO platform and crypto exchange CoinList took to Twitter to dispel FUD about deposit and withdrawal freezes. According to CoinList, “this is purely a technical issue, not a liquidity crunch.”
A writer covering the cryptocurrency industry named Colin Wu said that the biggest cryptocurrency crowdfunding site, Coinlist, was unable to withdraw coins. The explanation provided was that the custody partner is “undergoing maintenance, although it has lasted more than a week.” The 3AC breakdown resulted in a loss of $35 million for CoinList.
The platform made it clear that they are neither bankrupt, illiquid, or even close to declaring bankruptcy at this time. They are modernizing their internal ledger technologies and moving wallet addresses that include a number of different custodians at this time.
“As is the case with any significant endeavor, there will be challenges along the road. Because to custodian difficulties, the migration of various tokens, including ROSE, CFG, FLOW, and MINA, is taking longer than was originally projected.
Compiled by Coinbold