CoinFLEX Update on Withdrawals

Dear CoinFLEX Community,

Due to extreme market conditions last week & continued uncertainty involving a counterparty, today we are announcing that we are pausing all withdrawals. 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.

We will also be halting all FLEX Coin trading in perps and spot in the short term.

To confirm, the counterparty is not 3 Arrows Capital or any lending firm. We are confident that this situation can be repaired fully with a restoration of all functionality, namely withdrawals.

Timeline:

Next update: June 27th, 2022

Estimated time for withdrawals: June 30th, 2022

Please note that these dates are estimates based on our current understanding of the situation. We will give more clarity on the details and updates to the situation as soon as possible.

Mark Lamb, CEO