Crypto payment firm Wyre, imposes a withdrawal limit to protect “the best interest” of the community. They decided to limit withdrawals for all users to 90%. This decision came out after rumors that the company is going to be shut down very soon.
In such a short time when these rumors spread, users start taking their funds back. After this situation, Wyre decided to block and limit the withdrawal of users. In short, users can’t take back all funds from their accounts.
On 7th Jan, they announced their modification policy through their Twitter handle. As per the policy modification, users can withdraw up to 90% of their funds. In addition, when Yanni Giannaros stepped down as CEO, Wyre appointed Stephen Cheng as their interim CEO, as per the firm.
On the other hand, MetaMask also announced that it had removed Wyre from its mobile aggregator. As per their tweet, “We’re currently working on extension removal and appreciate your patience,” MetaMask said, asking users not to use Wyre on the mobile aggregator.
In April 2022, one-click payment service platform Bolt acquired blockchain-based crypto payment startup company, Wyre, for an alleged $1.5 billion value.
