Poolin, which is seen as one of the biggest Bitcoin mining pools, has made it known to the public that it is currently encountering liquidity risk.
This information was released to the public by the CEO and owner of the mining pool, Kevin Pan in a post he made via wechat, where he stated that the firm is currently facing liquidity issues, though he assured users of the ecosystem that their funds are safe.
This is prior to a lot of complain that has been recorded by users in the ecosystem starting from August, where users complain about encountering some form of problem like having a longer waiting period before withdrawals are met, especially when withdrawing from their wallet, though there were met with response from the customer service unit asking them to exercise patience tried to address individual complaints regarding withdrawal delays that they faced.
Though sometime last month the mining pool implied to CoinDesk that it has been going through some difficulties in the mega-bitcoin mine in Texas. As miners in the state have been waiting for their application to connect to their grid to be approved, according to information from CoinDesk.
That they should drive off and not believe any rumor of a rug pull. That Poolin as a firm still has full value and positive net worth and are currently on a trail on how deal with their current issue. Kelvin also sent a message across to the Pool’s Chinese Telegram account seeking to firm users that they the mining pool and wallet stills operates on its prowess and that any rumor of a rug pull should be dispelled, that inconveniences that are currently been faced especially during withdrawals are mostly due to risk management . and from a report from one of the customer services as the problem is being fixed, that more transactions would be successfully made with little or no delays.
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