{"id":70564,"date":"2022-11-24T18:17:45","date_gmt":"2022-11-24T16:17:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70564"},"modified":"2025-09-08T03:01:17","modified_gmt":"2025-09-08T00:01:17","slug":"users-report-withdrawal-problems-on-coinlist-platform","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/users-report-withdrawal-problems-on-coinlist-platform\/","title":{"rendered":"Users report withdrawal problems on CoinList platform"},"content":{"rendered":"<p>The platform for conducting token sales and the cryptocurrency exchange CoinList said withdrawals of certain assets were suspended on November 15 due to issues with a custodian partner. Users reported on social media that they had not yet been able to withdraw their funds.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Monitoring:<br \/>Our custody partner is undergoing maintenance that is taking longer than expected. During this time period deposits and withdrawals for FLOW, MINA and CFG are unavailable.<\/p>\n<p>Rest assured your funds are safe. Thank you for your patience!<\/p>\n<p>\u2014 CoinList Support (@CoinListSupport) <a href=\\\"https:\/\/twitter.com\/CoinListSupport\/status\/1595219472058822656?ref_src=twsrc%5Etfw\\\">November 23, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Last week CoinList warned about suspending withdrawals and deposits of Flow (FLOW), Mina Protocol (MINA), Oasis Network (ROSE) and Centrifuge (CFG) due to maintenance of a third-party custodian service. A week later, on November 23, the platform announced the resumption of operations with ROSE.<\/p>\n<p>Journalist Colin Wu reported that users could not withdraw a broader range of coins than the company had stated.<\/p>\n<p>CoinList&#8217;s custodial partners are Anchorage, BitGo, Gemini Custody and Silvergate Bank.<\/p>\n<p>In 2018, Digital Currency Group participated in a Series A investment round for the company worth $9.2 million. However, there was no report of cooperation between CoinList and Genesis, which was <a href=\"https:\/\/forklog.com\/en\/news\/nyt-genesis-does-not-rule-out-bankruptcy\">on the brink of bankruptcy<\/a>, part of Barry Silbert&#8217;s group, Wu noted.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Coinlist Custody Partners are Anchorage, Bitgo, Gemini Custody and Silvergate Bank. In 2018, DCG participated in the A round investment of Coinlist. It is uncertain whether Genesis, which is currently on the brink of bankruptcy, cooperated with Coinlist.<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1595754902810406912?ref_src=twsrc%5Etfw\\\">November 24, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>CoinList is among the creditors of the collapsed hedge fund Three Arrows Capital (3AC). The entity <a href=\"https:\/\/forklog.com\/en\/news\/three-arrows-capitals-debt-totals-3-5-billion\">owed the platform about $35 million<\/a> or roughly 1% of total liabilities.<\/p>\n<p>The founder and CEO of Akash Network Greg Osuri said he was unable to redeem on the platform the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-wrapped-token\">wrapped version<\/a> of Bitcoin (WBTC) for the original asset. He also linked CoinList&#8217;s problems to the fallout from the collapse of 3AC.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">I\u2019m unable to redeem <a href=\\\"https:\/\/twitter.com\/search?q=%24WBTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$WBTC<\/a> to <a href=\\\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$BTC<\/a> on <a href=\\\"https:\/\/twitter.com\/CoinList?ref_src=twsrc%5Etfw\\\">@CoinList<\/a>. <\/p>\n<p>CoinList had significant exposure to 3AC and possibly more.<\/p>\n<p>Getting bad vibes. A reminder to please withdraw your funds from centralized exchanges. <a href=\\\"https:\/\/t.co\/W8SstjIJBO\\\">pic.twitter.com\/W8SstjIJBO<\/a><\/p>\n<p>\u2014 Greg Osuri (@gregosuri) <a href=\\\"https:\/\/twitter.com\/gregosuri\/status\/1595250748714938370?ref_src=twsrc%5Etfw\\\">November 23, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Philip Moran, head of Digital Opportunities Group, confirmed that users report withdrawals taking several days. He also noted that the platform is a popular on\/off-ramp for WBTC among retail investors.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Looks like coinlist deposit\/withdrawals are turned off.<br \/>Some chatter from folks saying they have had pending withdrawals for several days.<\/p>\n<p>Coinlist is a pretty popular WBTC on\/off-ramp for retail.<\/p>\n<p>\u2014 Phill (@abearnamedphill) <a href=\\\"https:\/\/twitter.com\/abearnamedphill\/status\/1595659996196397058?ref_src=twsrc%5Etfw\\\">November 24, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>According to <a href=\\\"https:\/\/www.coingecko.com\/en\/exchanges\/coinlist\\\">CoinGecko<\/a>, trading volume on CoinList over the past 24 hours stood at about $897,165. The 24-hour figure jumped 80%. The most popular pair is FLOW\/USD \u2014 accounting for about 13% of trading volume.<\/p>\n<p>CoinList, which had originally focused on conducting token sales, launched a cryptocurrency exchange in 2020.<\/p>\n<p>In October 2021, following a funding round of $100 million the company\u2019s valuation reached $1.5 billion.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The platform for conducting token sales and the cryptocurrency exchange CoinList said withdrawals of certain assets were suspended on November 15 due to issues with a custodian partner. Users reported on social media that they had not yet been able to withdraw their funds.<\/p>\n","protected":false},"author":1,"featured_media":26216,"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":[1166,1854],"class_list":["post-70564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-coinlist"],"aioseo_notices":[],"amp_enabled":true,"views":"37","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70564","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=70564"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70564\/revisions"}],"predecessor-version":[{"id":70565,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70564\/revisions\/70565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=70564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=70564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=70564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}