Crypto lender CoinLoan decreases its withdrawal limit by 100 times
Due to time restrictions, users can only withdraw up to $5 000 daily from the platform

05.07.2022 - 06:40
929
1 min
0
What’s new? Estonia-based crypto platform CoinLoan has reduced the daily withdrawal limit from $500 000 to $5 000. The decision was taken in order to prevent interruptions to the platform’s liquidity. The restrictions took effect on July 4 and, as the platform’s representatives noted in a blog post, are temporary in nature. They add that CoinLoan is probably the only company not affected by the Terra collapse and the bankruptcy of Three Arrows Capital (3AC).
What else did CoinLoan say? Representatives of the project note that the company’s liquidity is at a stable level. Lowering the withdrawal amount threshold is a precautionary measure, as CoinLoan customers have started actively withdrawing funds in recent weeks. They added:
“Yet, like any company, we must take notice of the market. The turmoil caused by the issues at several of its participants (BlockFi, Celsius, Voyager, and others) is impacting the whole industry. One of the consequences is a spike in withdrawals of assets from CoinLoan.”
Earlier, crypto platform Vauld suspended withdrawals, trading, and depositing. The company said that amid the collapse of Terra and the bankruptcy of 3AC, as well as the suspension of withdrawals by the Celsius platform on June 12, customers withdrew more than $197,7 million from Vauld.
Useful material?
Crypto regulations
GENIUS aims to regulate dollar-pegged payment stablecoins
Jun 18, 2025
Crypto regulations
Under the new law, no cryptocurrency reserve can be created at the state level
Jun 11, 2025
Mining
This is the 300th block mined within this pool
Jun 5, 2025
Incidents
The marketplace started operating in 2022 and allowed trading in stolen personal data
Jun 5, 2025
Incidents
Hackers laundered assets using Tornado Cash, Thorchain, and Wasabi mixers
Jun 2, 2025
Market
After June 30, fines and prison sentences will be imposed for violating the rules
Jun 2, 2025