CoinList is a platform that allows users to have access to new tokens. It has positioned itself as the largest crowdfunding platform within the crypto space. But, lately, users have been complaining on Twitter that they are no longer able to withdraw their funds from CoinList. This situation lasted more than a week. Rumors then began to circulate on the social network concerning a possible bankruptcy of CoinList. The platform team finally decided to react to set things straight.
The company says it is not on the verge of bankruptcy
CoinList is out of his silence by making a series of Twitter posts on November 24. The platform team said: “There are a lot of rumors floating around that we would like to address head on. CoinList is not insolvent, illiquid, or near bankruptcy“. She explained that the difficulty in making deposits and withdrawals stems from the technical issues that CoinList is currently experiencing.
The team clarified that several tokens on CoinList have been affected by a failure of one of the custodians of the platform. “We are in the process of updating our internal ledger systems and migrating addresses for wallets involving multiple custodians“, she reassures. This measure should considerably strengthen the compliance of the platform and improve its product and service offering.
Finally, CoinList explained: “As with any large undertaking, there are challenges along the way. Due to custody issues, the migration of some tokens is taking longer than expected (ROSE, CFG, FLOW, MINA)“.
It all started with the statements of a crypto journalist
In fact, CoinList made its release after an alarming tweet from a Chinese crypto journalist called Colin Wu. had declared that the platform had a problem and that it lost $35 million with 3AC. He said : “Some community members have reported that Coinlist, the largest cryptocurrency crowdfunding platform, is unable to withdraw tokens“.
“The official reason is that the on-call partner is undergoing maintenance, but it has been going on for over a week. CoinList Suffers $35 Million Loss in 3AC Crashadded Colin Wu.
Since the bankruptcy of FTX, the crypto community has been on the alert. She suspects insolvency as soon as a platform announces the cessation of withdrawals. This is what CoinList fell victim to, but the platform maintains that it remains solvent.
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