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CoinList Speaks Out About The Platform Blocking Withdrawals Is Just FUD

Following a blogger’s post stating users had reported being unable to withdraw money for more than a week, which raised concerns the company was experiencing liquidity problems or was bankrupt, CoinList took to Twitter to dispel “FUD.”

In a post on Twitter on November 24, the platform declared that the exchange is “not insolvent, illiquid, or near bankruptcy.”

A week’s worth of maintenance had prevented certain community members using CoinList from withdrawing, Colin Wu, a crypto news intelligence site, had earlier tweeted to its 245,000 followers.

The company stated that a number of cryptocurrencies are taking longer than planned to migrate due to unexplained custodian difficulties, with one of its unidentified custodian partners experiencing an outage unconnected to the migration on November 23 that had an impact on tokens on the platform.

On its status page, withdrawals are listed as having degraded performance, with four cryptocurrencies, FLOW, MINA, ROSE, and CFG, showing withdrawal delays since November 15 and one showing delayed deposits since November 16.

The platform also noted it plans to publish its proof of reserves.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.