Cryptographic exchange iCE3 Post Monday’s announcement that “we were advised to start the clearing process” after suspending all transactions on the exchange in March after the account mismatch was discovered.
We have also stopped withdrawing customer funds. This happens just a week after informing the client that it will process all crypto and land withdrawal requests except Bitcoin and Litecoin.
Some iCE3 clients contacted Moneyweb and stated that their withdrawal requests were not being processed. On Monday, they were greeted with a brief announcement that the company would suspend all withdrawals and begin liquidation proceedings.
It is unknown why everything was processed except for Bitcoin and Litecoin withdrawal requests. These are likely to make up the majority of the cryptocurrencies held in the exchange’s client accounts.
Client draws whitespace
An iCE3 client who asked not to name it told Moneyweb that it had been working for weeks to withdraw the cipher, but it didn’t help. “Until Monday, I was contacted by the company and was told that there was a request for withdrawal in the queue. Then suddenly when the company posted a message to suspend the withdrawal and liquidate the company. The situation has subsided.
“I’m worried that I’ll lose what I have accumulated in my account.”
iCE3 has removed Facebook’s presence, resulting in clients launching their own presence Facebook page Post updates and share information. “ICE3x management has relinquished responsibility for managing explanations for this issue, so this page was created as a hub for sharing future strategies and status updates regarding issues faced by exchange failures.” Facebook welcome message says.
Not one of the big players
Moneyweb asked Gareth Grobler, the founder of iCE3, for an explanation, but did not receive a reply at the time of publication.
iCE3 is believed to have about 80,000 client accounts, but only a few of these are active, making them relatively minor players in the local crypto space.
The company apparently committed suicide with a March official approval of the account “Bitcoin and Litecoin-related balance discrepancies,” urging customers to rush through the exit door.
The March iCE3 statement states:In addition, BTC has been suspended [bitcoin] And LTC [litecoin] Withdrawal that takes effect immediately until the results of a complete investigation and settlement are available. This is done to protect all clients. “
Unpaid iCE3 clients are concerned that their destiny is in the hands of liquidators and may take years to know if they will receive anything. ..
iCE3 was founded in 2013 and was one of the oldest exchanges in the country. Cryptographic exchange failures in the sector seeking to build public trust are being watched by some in the industry.
“It’s obviously very disappointing to hear about the closure and liquidation of the crypto exchange,” said Farzam Ehsani, founder and CEO of the crypto exchange VALR.
“I don’t know the details of what happened, but I hope we can find a solution that works for everyone involved.”
The latest statement from iCE3 is:
We are pleased to inform you that the platform will not be back in operation and that you have been advised to begin the clearing process.
All withdrawals from the platform have been disabled and I manually processed the withdrawals already submitted via the form today.
We currently have number Requests to withdraw currencies other than BTC and LTC are pending.
We will provide details and next steps during tomorrow (July 4, 2021).
As always, we can still reach via help.ice3.com Or contact us by email firstname.lastname@example.org (Please note that staff are currently under extreme pressure and can only be supported as instructed. We apologize for any inconvenience, but please be careful when communicating with service desk staff.)
Do not create multiple tickets or use multiple channels to contact you. It only increases the workload and amount of tickets that the team needs to pass, which significantly delays the operation.
We appreciate your understanding and cooperation.
iCE3 service desk team
This story will be updated as more details become available.
Cryptographic exchange to be cleared iCE3, suspend all withdrawals
Source link Cryptographic exchange to be cleared iCE3, suspend all withdrawals