CoinFlux Bitcoin Exchange's Bank Accounts Frozen Due To “Unpleasant” Surprise Investigation

CoinFlux’s Bank Accounts Frozen Due To “Unpleasant” Surprise Investigation

CoinFlux is the top exchange in Romania for both Bitcoin and cryptocurrency as a whole. However, in an unexpected turn of events, their bank accounts have been frozen, which will hopefully only be for a limited time. The team blames the freezing of their accounts on a recent investigation that was unexpected initiated on their company.

Announcing the issue to their Twitter followers, CoinFlux posted,

“We are in the unpleasant situation to temporarily stop any digital currency exchanges. For further details, please consider the text below.”

The company attached a link to their Medium blog, which offers both an English and a Romanian version of the details.

The blog explains that the company is in the “unpleasant situation” with their accounts, adding that the freeze will impact the wallets on the platform as well. They encouraged users about their predicament, saying,

“We are doing all possible efforts, along with our legal advisers, to make sure everyone who had money deposited in CoinFlux wallets gets it back.”

As a result of the freeze, there are also multiple functions on the platform that cannot work at their full capacity, though the company is hopeful that they will regain access again “within the next days.”

The company concluded,

“We are aware that this is a worrisome situation for the people who have placed their trust in our service, and we assure each and every one of them that we will do everything that’s up to us to fix this unfair situation.”

A similar problem arose for BTCxCHANGE, a leading Bitcoin exchange. Their accounts were also frozen, but they ultimately decided to stop with their services all together, considering their lack of banking partner.

Since the tweet was posted, there have been no further updates on social media or to news outlets.

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Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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