PoolinWallet, a bitcoin wallet developed by mining pool Poolin, has suspended services — including withdrawals — for users, citing the need to stabilize its liquidity.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
The PoolinWallet team wrote in a Medium blog that with the move it wants to explore "strategic alternatives with various parties." It is unclear for how the wallet has suspended withdrawals. The team said:
"We want to assure you that your assets in PoolinWallet are safe and we are expecting to provide the community with more details, and feasible solutions within a week."
In the meantime, Poolin announced it would waive fees for mining services until December of this year for users holding 1 BTC or 5 ETH, citing difficulties related to the wallet.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange