Poolin suspends withdrawals from Pool Accounts, admits liquidity issues

Poolin has halted withdrawals from its wallets known as “Pool Accounts,” the major Bitcoin and crypto mining pool said in a statement on Monday.

Quick Info

  • The recent surge in withdrawal demand is the main root of the mining pool’s liquidity problems, but regular mining and direct payouts will not be affected, Poolin said.
  • The company launched a no-fee promotion and payment adjustment in an attempt to stabilize its liquidity and operations.
  • Poolin is the fourth largest Bitcoin mining pool at press time, according to BTC.com data.
  • Poolin’s statement comes a day after the miner publicly disclosed its liquidity problems on Chinese social media WeChat on Sunday, following user complaints about withdrawals, as reported by CoinDesk.
  • Poolin is expected to provide a status update two weeks after Monday’s announcement.

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