Cryptocurrency exchange CoinFLEX has suspended withdrawals, citing "extreme market conditions."
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The exchange said in a blog announcement that in addition to the market, it is also facing "uncertainty involving a counterparty." While CoinFLEX declined to elaborate more about whom it is referring to, the exchange said that the counterparty is not Three Arrows Capital or any lending firm.
"We fully expect to resume withdrawals in a better position as soon as possible. We will fully communicate with you as we find out more," the exchange said.
Besides pausing withdrawals, the Seychelles-based exchange will also be halting all FLEX Coin trading in perpetual futures and spot in the short term.
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