Crypto derivatives platform CoinFLEX will resume user withdrawals today. As reported by the company, users will be able to withdraw a maximum of 10% of their total deposit.
The company has reported:
"We will make available for withdrawals 10% of the assets in users' balances, with the exception of flexUSD, which cannot be withdrawn until further notice."
It should be noted that the remaining 90% of the assets will be blocked in clients' accounts. These funds will be shown in the balance sheet, but will not be available for any transactions with them.
Last June 24, CoinFLEX suspended the withdrawal of user funds due to "extreme market conditions" and "uncertainty of a counterparty." To solve the problems encountered, the company announced the launch of the Recovery Value USD (rvUSD) token.
Subsequently, the platform's CEO Mark Lamb said the counterparty mentioned is Bitcoin.com founder Roger Ver, who owed CoinFLEX $47 million.