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.”
Colin Wu, a cryptocurrency journalist, reported that Coinlist, the largest crypto crowdfunding platform, was unable to withdraw coins. The reason given was that the custody partner is “undergoing maintenance, but it has lasted more than a week.” The 3AC crash cost CoinList $35 million.
Also Read: Singapore Court Grants Approval to 3AC Liquidators for Fund Probe
The platform clarified that they are not insolvent, illiquid, or on the verge of bankruptcy. They are upgrading their internal ledger systems and migrating wallet addresses involving multiple custodians.
“As with any big undertaking, there are bumps along the way. Custodian issues mean some tokens are taking longer than anticipated to migrate (ROSE, CFG, FLOW, MINA).”
