Coinflex: Another exchange gambles away user funds and freezes withdrawals. Users' assets just belong to exchange owners I guess...

Coinflex: Another exchange gambles away user funds and freezes withdrawals. Users' assets just belong to exchange owners I guess...

tldr; Crypto derivatives exchange CoinFLEX has suspended all withdrawals on its platform due to "extreme market conditions" and "continued uncertainty involving a counterparty." The troubled counterparty in question is not Three Arrows Capital (also known as 3AC) "or any lending firm,” which would include BlockFi and Celsius. All futures and spot trading for the company's native cryptocurrency, FLEX coin, will be put on hold.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.