The first and only Belgian cryptocurrency lending platform, Bit4You, said it was suspending its activities after CoinLoan, one of its main service providers, was declared insolvent by an Estonian court.
CoinLoan, a crypto lending company based in the Baltic state, also no longer has the required registration as a custodian of virtual currencies, Bit4You said in a statement on its website.
“To date, we have no indication that the virtual currencies held on behalf of our customers with CoinLoan cannot be recovered,” Bit4You added.
As proportions of Bit4You’s customers’ investments, CoinLoan holds around 85.66% of Ripple (XRP) coin, around 81.45% of top cryptocurrency bitcoin and 67.32% of Ethereum, according to the statement.
A court in Estonia unexpectedly ordered CoinLoan to halt all operations, including withdrawals, on April 24. The company had limited user withdrawals in July 2022 to $5,000 per 24-hour period to stave off a run on its funds.
Nations and international organisations have traditionally used sanctions as a pillar of their diplomatic strategies…
On May 1st, on the occasion of International Labor Day, a heartfelt message was issued…
Gold prices extended their decline in Pakistan for the third straight session on Tuesday, in…
The Rupee on Tuesday gained 08 paisa against the US dollar in the interbank trading…
Pakistan earned US $614.947 million by providing different transport services in various countries during the…
The Board of Directors of Habib Bank Limited, one of the country’s largest commercial banks,…
Leave a Comment