Crypto trading firm and lender BlockFills has suspended deposits and withdrawals on its platform amid volatile market conditions, the company confirmed to Decrypt.
“In light of recent market and financial conditions, and to further the protection of clients and the firm, BlockFills took the action last week of temporarily suspending client deposits and withdrawals,” a spokesperson for the firm said in a statement provided to Decrypt.
“Management has been working hand in hand with investors and clients to bring this issue to a swift resolution and to restore liquidity to the platform. The firm has also been in active dialogue with our clients throughout this process, including information sessions and an opportunity to ask questions of senior management,” they added.
Meanwhile, clients have been able to open and close spot and derivative positions on the exchange, with other special circumstances accommodated for as well, according to the spokesperson.
BlockFills’ solutions remain to be seen, though the spokesperson said the firm is “working tirelessly to bring this matter to a conclusion and will continue to regularly update our clients as developments warrant.”
