– Poolin, a large Bitcoin mining pool, has announced it is temporarily suspending Bitcoin and Ether withdrawals from its wallet service due to liquidity problems.
– In a Monday announcement, Poolin said its wallet service was facing some liquidity problems due to recent increasing demands on withdrawals and planned to temporarily stop payouts of Bitcoin (BTC) and Ether (ETH).
– In its Telegram channel, Poolin support told users it was hard to name a specific date on which it would resume normal service, but hinted it could be a matter of days, while the help page stated, time and plans of resume will be released within 2 weeks.
– Please be assured, all user assets are safe and the company’s net worth is positive, said Poolin.
– The mining pool was the latest in the crypto space to announce it would be halting withdrawals amid a bearish market. Many exchanges including Coinbase and FTX said they would be temporarily pausing withdrawals of ETH during the transition of the Ethereum blockchain to proof-of-stake, expected to take place between Sept. 10 and 20.