Cryptocurrencies
Crypto Exchange CoinFlex Set to Allow Limited Withdrawals
- Exchange to reset operations to permit withdrawls July 15
- Users will be permitted to make withdrawls up to 10%
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CoinFlex will allow users to take out a limited portion of their balances after pausing withdrawals last month due to a counterparty failing to make a margin call.
The crypto exchange said it will cancel pending withdrawals at 1am ET on July 15 and then close down trading on the platform, according to a July 14 blog post. Following the shutdown, users will be able to withdraw up to 10% of their balances, while the remainder will be blocked, it said.