{"id":64401,"date":"2022-07-14T16:48:19","date_gmt":"2022-07-14T13:48:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64401"},"modified":"2025-09-06T14:16:23","modified_gmt":"2025-09-06T11:16:23","slug":"coinflex-to-resume-withdrawals-in-restricted-mode","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/coinflex-to-resume-withdrawals-in-restricted-mode\/","title":{"rendered":"CoinFLEX to resume withdrawals in restricted mode"},"content":{"rendered":"<p>On July 15, the cryptocurrency derivatives platform CoinFLEX <a href=\"https:\/\/coinflex.com\/blog\/update-july-14-2022\/\">resume<\/a> withdrawals, implementing a limit on the relevant operations at 10% of total deposits.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe will make 10% of assets on user balances available for withdrawal, with the exception of flexUSD, which cannot be withdrawn until further notice,\u201d the company said.<\/p>\n<\/blockquote>\n<p>The remaining 90% of assets will be blocked on clients&#8217; accounts. These funds will appear on the balance, but remain unavailable for any operations with them.<\/p>\n<p>On June 24, 2022, CoinFLEX <a href=\"https:\/\/forklog.com\/en\/news\/coinflex-suspends-withdrawals-and-trading-of-its-own-token\">suspended user withdrawals<\/a> due to \u201cextreme market conditions\u201d and \u201cuncertainty regarding the counterparty.\u201d To address the issues, the company <a href=\"https:\/\/forklog.com\/en\/news\/coinflex-to-launch-47-million-token-sale-to-resume-customer-withdrawals\">announced<\/a> the launch of the Recovery Value USD (rvUSD) token.<\/p>\n<p>Later, platform head Mark Lamb said that the mentioned counterparty is the founder of Bitcoin.com, Roger Ver, who owed CoinFLEX $47 million. Since \u201cBitcoin Jesus\u201d failed to meet his obligations, the company sent him <a href=\"https:\/\/forklog.com\/en\/news\/coinflex-serves-roger-ver-with-a-notice-of-default\">a notice of default<\/a>.<\/p>\n<p>Earlier, in July CoinFLEX approached the Hong Kong International Arbitration Centre to <a href=\"https:\/\/forklog.com\/en\/news\/coinflex-plans-to-recover-84-million-from-roger-ver\">recover the debt from Vera<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On July 15, the cryptocurrency derivatives platform CoinFLEX will resume user withdrawals, instituting a limit of 10% of total deposits.<\/p>\n","protected":false},"author":1,"featured_media":64402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2318],"class_list":["post-64401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinflex"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=64401"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64401\/revisions"}],"predecessor-version":[{"id":64403,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64401\/revisions\/64403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/64402"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=64401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=64401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=64401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}