Trading platform CoinFLEX today announced limited withdrawals for customers after freezing them last month amid a dispute with prominent crypto investor Roger “Bitcoin Jesus” Ver.
The company said in a blog post on Thursday that users can now withdraw 10% of their funds – but not the platform’s stablecoin, flexUSD, until further notice.
“We will enable limited withdrawals for all users this week and continue to work with laser focus on our recovery plans,” the company said.
CoinFLEX last week so it went into arbitration in Hong Kong to recover $ 84 million in losses – which it owed to a “large individual customer”. The company has previously identified this person as the famous Bitcoin evangelist and angel investor Roger Ver, but has not named him in the arbitration announcement.
The platform last month froze outlet– to join a long list of companies hammered by a combination of dubious business practices and financial uncertainty due to a brutal bear market.
However, CoinFLEX’s story is a little different: the company claims Ver, an early Bitcoin investor who became a Bitcoin Cash supporter and without a doubt one of crypto’s most recognizable names, owes them $ 47 million.
CoinFLEX CEO Mark Lamb said that Ver is in breach of an agreement to repay CoinFLEX cash he owes in the form of USDC stablecoin, and this is why the platform is struggling and had to stop withdrawing. Ver denies the allegation and claims that CoinFLEX actually owes him money, which Lamb also denies.
Ver became known as “Bitcoin Jesus” during the early days of cryptocurrency when his entrepreneur spent his time preaching the Bitcoin gospel and investing in early Bitcoin startups.
Bitcoin then experienced a hard fork – when a blockchain network splits in two and a new cryptocurrency is created – and Bitcoin Cash was born.
Ver now supports Bitcoin Cash over the original Bitcoin and is the CEO of the website and wallet for cryptocurrency education, Bitcoin.com.
Ver did not immediately respond Decrypthis request for comment.
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