CoinFLEX

Seychelles-headquartered crypto exchange CoinFLEX is planning to start allowing users to make limited withdrawals after suspending the service last month. The exchange announced this development through a blog post on July 14. To enable limited withdrawals, CoinFlex put together a strategy that involves canceling pending withdrawals and shutting down trading temporarily. The exchange scheduled this plan for 1:00 AM ET on July 15. The exchange added: We expect this to last a few hours and will notify you once we…

CoinFLEX co-founders, Sudhu Arumugam and Mark Lamb have issued a release revealing plans to move forward with arbitration. After two weeks of near silence, the troubled crypto trading company now seeks to recover $84 million worth of debt from a client.  CoinFLEX Founders Proceed With Legal Action Last month, CoinFLEX put withdrawals on hold after one user’s account entered negative equity. The company became the umpteenth in a series of crypto outfits that had done the same thing. In a…

CoinFLEX CEO Mark Lamb has pushed back plans to resume withdrawals at his exchange on Thursday. The company must first wait to complete its fundraising process, which Lamb claims is making significant progress. The CoinFLEX Debacle Speaking with MarketWatch on Wednesday, Lamb said that his exchange has been discussing his insolvency problem with distressed debt funds. He is attempting to bring them onboard his novel yet controversial token sale solution, alongside existing customers and investors. As CoinFLEX explained on Monday,…