Poolin halts BTC and ETH withdrawals due to “liquidity issues”

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Cryptocurrency mining pool is in Poolin announced It will stop bitcoin (BTC) and ether (ETH) withdrawals from its wallet service.

In the announcement, Poolin said:

“We are here to inform you that the Pool Account and Poolin Wallet withdrawal options have been disabled while setting the Payout Wallet addresses. That is, you will only be allowed to set External Wallet addresses and all payments will be made regularly on a daily basis. Will go.”

Poolin is temporarily halting withdrawals due to “liquidity issues” caused by the recent increased withdrawals.

When will evacuation resume?

Poolin’s support noted in its Telegram channel that it was impossible to give an exact time when normal operations resumed via it, adding that it may not be long. However, the mining pool’s help page indicated that restoration plans would be announced in two weeks’ time.

The note on Telegram stated:

“Please rest assured, all user assets are safe, and the company’s net worth is positive. We will create a snapshot of the remaining BTC and ETH balances on the pool on September 6th to find out the balance. Mining daily after September 6th The coins minted will be paid daily as usual. Other coins are not affected.”

Poolin Mining Pool

Poolin is a mining pool headquartered in China. It was founded in 2017 and is the fourth largest crypto mining Pool in the world. The other three largest mining pools are Foundry USA, Antpool and F2Pool.

Poolin has mined about 10.8% of Bitcoin Blocks in the last 12 months.

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