Just a day after admitting to liquidity issues, officialPoolin is pausing all withdrawals from its wallet service. egreechee reports
PoolinWallet, the wallet service of one of the world's biggest bitcoin mining pools, is suspending all withdrawals as it tries to preserve assets and stabilize liquidity, the firm said on Monday.On Sunday, the firm's CEO and founder Kevin Pan said that Poolin was facing liquidity issues but assured users that assets were safe. Customers have been complaining since at least as far back as August that withdrawals were slow.
"PoolinWallet plans to pause all withdrawals, flash trades, and internal transfers within Poolin systems" starting 2 p.m. GMT on Monday in order to preserve asserts and stabilize liquidity, said the post on theA"feasible" solution will be provided within a week, the post said, echoing Pan's statement that the company would soon come up with a plan to fix the issues. That plan might include debt, according to Pan's post.
In a post on Poolin's Chinese-language customer support Telegram channel on Sunday, the firm explained that accounts on the mining pool are supported by its wallet service.
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