Poolin, one of the largest Bitcoin mining pools by hash rate, has announced that it has temporarily suspended Bitcoin and Ether withdrawals from its wallet service due to “liquidity issues.”
In Monday’s announcement, Poolin Said The wallet service was “facing liquidity issues due to the recent increase in demand for withdrawals” and had planned to temporarily suspend Bitcoin payments (Bitcoin) and the ether (ethereum). Poolin’s support told users on its Telegram channel that it was “difficult to give a specific date” for resuming normal services, but hinted that it could take several days. It will be released within 2 weeks. ”
“Rest assured, all user assets are safe and the company’s net worth is positive,” Poolin said. “To calculate the balance, we create a snapshot of the balance of BTC and ETH remaining in the pool on September 6th. other coins are unaffected.”
Launched in 2017, Poolin is a China-based mining pool operated under Blockin. According to data from BTC.com, the company has was accounts for about 10.8% of mined BTC block Over the past 12 months, it has become the fourth largest mining pool after Foundry USA, AntPool and F2Pool.
The mining pool was the latest in the crypto space to announce it would suspend withdrawals amid a bear market.Many exchanges including Coinbase and FTX They said they would temporarily suspend withdrawals ETH during the transition to Proof of Stake on the Ethereum blockchain, expected to take place between September 10th and 20th.