CoinList addresses “FUD” on withdrawals, cites technical issues for delays

CoinList blamed "custodian issues", with one suffering an outage affecting "many tokens" on the platform as the reason for reported withdrawal issues.

Cryptocurrency exchange and initial coin offering (ICO) platform CoinList took to Twitter to address “FUD” after a blogger tweeted that users have said it had been unable to withdraw funds for more than a week, raising concerns that the company had liquidity problems or was insolvent.

“There is a lot of FUD in circulation that we would like to address head-on,” CoinList said in a Nov. 24 Twitter thread that noted the exchange was “not insolvent, illiquid, or near bankruptcy.” . He said, however, that his deposits and withdrawals were affected by "technical issues".

2/ We are updating our internal registry systems and migrating wallet addresses involving multiple custodians.

This is one of many efforts we are undertaking to provide our customers around the world with better products and services while maintaining compliance.

Crypto blogger Colin Wu previously tweeted to his 245,000 followers that “some community members” using CoinList were unable to opt out for over a week due to maintenance.

CoinList has a $35 million creditor claim with bankrupt crypto hedge fund Three Arrows Capital, which Wu declared in his tweet as a “loss,” likely raising concerns about the insolvency or illiquidity of the company.

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