Breaking: Coinlist Reportedly Unable To Withdraw coins; Here’s Why

The top cryptocurrency crowdfunding platform, Coinlist, is unable to withdraw its coins. Recently as per the WuBlockchain tweet some of the Conlist community members reported that the cryptocurrency crowdfunding platform, Coinlist is unable to withdraw its coins.

The reason why Coinlist unable to withdraw

As per the platform, the official reason is that the custody partner is undergoing maintenance, but it has lasted for more than a week. Notably, the top crowdfunding platform suffers a $35 million loss as a result of the 3AC crash. In a tweeter thread last week on November 15, the platform unveils its position last week to its users and said that the last week has been a nightmare for cryptocurrency.

Coinlist assures users fund’s are absolutely safe

The top crowdfunding crypto platform also assured its users that their assets are absolutely secure. In addition to this the crowdfunding platform also cleared that in relation to FTX, FTT, Alameda, or any of its affiliates, CoinList has no material exposure. As per the tweet the platform never uses a user’s money without that user’s express permission.

Notably, Anchorage Digital, Bitgo, Gemini Custody, and Silvergate Bank are Coinlist Custody Partners. DCG participated in Coinlist’s A round investment in 2018. It is unclear whether Genesis, which is currently bankrupt, collaborated with Coinlist.

AS per the tweet from twitter handle @meta_mate8 Coinlist is currently undergoing maintenance, and users are unable to withdraw funds. He also questions in his tweet if there is problem with transmission. In addition to this he hopes It will not be a major issue. He said, “Many popular coins, such as ICP, FIL, Algo, and flow, appeared to be new on the coinlist at first. I participated in a few sessions at the time, and winning was difficult, so I won’t do it again.”