Cryptocurrencies
CoinFlex Crypto Exchange Files for Restructuring in Seychelles
- CoinFlex seeking to recover $84 million from single client
- Expects more partial withdrawal pending votes on proposal
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Cryptocurrency exchange CoinFlex said it has filed for restructuring in a Seychelles court, as it seeks to resolve a shortfall due to a counterparty failing to make a margin call.
The company sent out a notice on its restructuring process in emails to customers on Tuesday. It will seek approval from depositors and court on a proposal to issue depositors with rvUSD tokens, equity, and locked FLEX Coin.