CoinFLEX reinstates withdrawals, with a 10% user cap

In the three weeks since customer withdrawals were stopped, CoinFLEX has made measures to recover up to $84 million in unpaid money.

Exchanging cryptocurrencies The partial reinstatement of customer withdrawals by CoinFLEX has sparked cautious hope that the company is gradually overcoming liquidity issues brought on by a high-profile client failure.

All CoinFLEX customers will be able to withdraw up to 10% of their assets starting at 5 am UTC on Friday, according to the business. Users will be able to make new withdrawal requests up to the 10 percent cap after all current ones are canceled and restored to their respective accounts.

The remaining 90% of user balances shall be deemed “locked funds,” or funds that are reflected on a user’s balance but which may not be withdrawn, exchanged, or pledged as security.

Except for flexUSD, an interest-bearing stablecoin, which “cannot be withdrawn until further notice,” the new rules apply to all assets.