Bitfinex battles money withdrawal problem

Bitfinex, one the world's biggest cryptocurrency exchanges, faced a problem of money withdrawals on the platform reported by the users
19 November 2017   330324

The members of the community of Bitfinex cryptoexchange started noticing problems with money withdrawal on the exchange. The problem might be linked to the connection between Tether and Bitfinex and the issues concerning redacted information that would normally be included in an audit.

The users started noticing swings of price and comparing those to Bitfinex’s margined trading practices, stating that there was no response from the support and that the company was putting them at risk. This might eventually result in major losses for the company and for the users. The users on Twitter were concerned that the market was being moved by large-scale trades.

Nevertheless on November 19 Bitfinex made an announcement on Twitter stating that both fiat and crypto withdrawals are functioning normal and that the statements were FUD aimed to create a market disrupting event.

The users still continue to be anxious about their financial status bewaring that such problems might eventually lead to the company's crash. Bitfinex claimed that the formal announcement towards the recent allegations is forthcoming.

Supreme Court of India to Moved Crypto Ban Hearing

Back in April 2018, the RBI forbade controlled institutions to service enterprises and individuals in transactions related to crypto
18 November 2019   67

The Supreme Court of India postponed a hearing in January on the ban of the Reserve Bank (RBI) on the provision of services to companies and individuals related to bitcoin and other digital currencies.

In April 2018, the RBI forbade controlled institutions to service enterprises and individuals in transactions related to cryptocurrencies. The IAMAI industry organization challenged CB restrictions in the Supreme Court. In two previous hearings, the court sided with the RBI.