What measures did BlockFi take during the FTX collapse to pause withdrawals?

3 answers

• Dec 18, 2021 · 3 years ago
  In response to the FTX collapse, BlockFi implemented several measures to pause withdrawals temporarily. They suspended all outgoing transactions to ensure the safety of users' funds. This decision was made to prevent any potential loss or unauthorized access to the assets during the uncertain period. BlockFi communicated with their users through official channels, providing updates and reassurance about the situation. The temporary pause on withdrawals was lifted once the FTX situation stabilized and it was deemed safe to resume normal operations.
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• Dec 18, 2021 · 3 years ago
  BlockFi took swift action during the FTX collapse to protect its users' assets. They immediately suspended all withdrawal requests to prevent any potential loss or security breaches. This decision was made to prioritize the safety and security of their customers' funds. BlockFi kept their users informed about the situation through regular updates and communications. Once the FTX situation was resolved and deemed safe, BlockFi resumed withdrawals and ensured a smooth transition back to normal operations.
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• Dec 18, 2021 · 3 years ago
  During the FTX collapse, BlockFi, as a trusted platform, took necessary precautions to safeguard its users' assets. They temporarily paused withdrawals to prevent any potential risks and ensure the security of funds. BlockFi maintained open lines of communication with their users, providing timely updates and addressing any concerns. The decision to pause withdrawals was a proactive measure to mitigate any potential impact from the FTX collapse. Once the situation stabilized, BlockFi promptly resumed normal withdrawal operations, prioritizing the convenience and safety of their users.
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