What are the reasons behind BlockFi pausing withdrawals?

3 answers

• Tobin WinklerJun 19, 2024 · a year ago
  BlockFi paused withdrawals due to a security incident that occurred recently. They discovered a vulnerability in their system and decided to take immediate action to protect their users' funds. The temporary pause on withdrawals is a precautionary measure while they investigate and resolve the issue. Rest assured, BlockFi is working diligently to restore normal operations as soon as possible.
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• osha ExcelJul 15, 2024 · a year ago
  The decision to pause withdrawals on BlockFi was made to ensure the safety and security of users' funds. By temporarily suspending withdrawals, BlockFi can thoroughly investigate any potential security risks and address them before allowing users to access their funds again. This proactive approach demonstrates BlockFi's commitment to maintaining a secure platform for its users.
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• Unity Kwasaku SilasApr 25, 2022 · 3 years ago
  According to reports, BlockFi temporarily halted withdrawals as a precautionary measure following a security incident. While the exact details of the incident have not been disclosed, it is important to note that BlockFi takes security seriously and is actively working to resolve the issue. Users can expect their funds to be safe and accessible once the necessary security measures have been implemented and verified by BlockFi and relevant authorities.
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