NFT News by Thebittimes.Com

Bitzlato is yet to resolve the issue with the remaining 50% of user funds and may eventually compensate using its own funds. Russia-linked cryptocurrency exchange Bitzlato has managed to partly restore access to user funds despite being officially seized by European authorities. Bitzlato has enabled its users to withdraw up to 50% of assets that were stuck on the platform due to enforcement from the United States and Europol, the firm announced on its Telegram channel on March 20. According to the statement, Bitzlato users are now able to restore a half of their assets using the Telegram bot @bz_phoenix_bot, which allows users to move assets from the web Bitzlato account to an external wallet or an exchange . All withdrawals from Bitzlato are processed in Bitcoin (BTC) as the platform converted all altcoin holdings by users into BTC at the time the service was halted on Jan. 18. According to the firm, Bitzlato had to convert user balances into Bitcoin due to technical difficulties a...

Join Our Telegram channel to stay up to date on breaking news coverage Everlend Finance, a decentralized finance protocol running on the Solana blockchain, is shutting down its services. The platform is also urging its clients to withdraw funds from the platform as its services have been affected by the market liquidity triggered by the collapse of FTX. Everlend Finance halts services amid liquidity issues The announcement by Everlend Finance noted that while the company could still sustain its operations now, it was not viable for it to continue rendering services given the current market conditions, adding that it would be a gamble to do so. We are deeply saddened to announce that as of today our team has decided to close down https://t.co/UiTuuSdyrB and won’t continue its development — Everlend (@EverlendFinance) February 1, 2023 The company said that the deposits made on the underlying protocols were being held in vaults. However, the app would not allow...

Wyre imposed a daily withdrawal limit on its platform subject, citing “the best interest of our community.” Crypto payment platform Wyre modified its withdraw al policy to limit users from cashing out up to 90% of their assets just days after two former employees allegedly hinted the possibility of a shutdown. On Jan. 7, 2023, Wyre imposed a withdrawal limit on its platform, citing “the best interest of our community.” Following the policy modification, Wyre users can withdraw up to 90% of their crypto funds as the company explores strategic options to circumvent the prolonged bear market. We are modifying our withdrawal policy. While customers will continue to be able to withdraw their funds, at this time, we are limiting withdrawals to no more than 90% of the funds currently in each customer account, subject to current daily limits. — Wyre (@sendwyre) January 7, 2023 In addition, the company appointed Yanni Giannaros, Wyre’s chief risk officer and compliance officer, as the int...

The collapse of the prominent crypto exchange FTX took a toll on the entire market. Several assets dropped down to their yearly lows. In addition to this, withdrawal s for all assets on FTX as well as FTX .US were suspended. Therefore, FTX users not only had to deal with the volatile market but also fear losing funds. On a brighter note, FTX ’s US wing affirmed that withdrawal s for Ethereum [ ETH ] and Polygon [ MATIC ] would be made available soon. MATIC holders, however, were required to cancel any withdrawals that were pending. Following this, they would have to put out a fresh withdrawal request as ERC20 MATIC. FTX US withdrawals: ETH withdrawals will resume shortly, our apologies on the delay Matic – if you would like to withdraw Matic please cancel your withdrawal and request it as erc20 Matic — FTX (@FTX_Official) November 11, 2022 The latest news comes after the FTX.US website suggested that trading “may be halted” in a couple of...