CoinFLEX to begin arbitration for $84 million recovery and open limited withdrawals

Crypto investment platform CoinFLEX is moving forward with its plan to reclaim $84 million in funds by starting arbitration procedures in Hong Kong against an individual account holder. Co-Founders Sudhu Arumugam and Mark Lamb acknowledged in their July 9 announcement that the judgment would provide access to the individual’s “worldwide assets” and that their lawyers […]

CoinFlex CEO says withdrawals unlikely to resume on Thursday

Crypto exchange CoinFlex is “unlikely” to resume withdrawals on Thursday, June 30 as it had originally hoped, according to its CEO Mark Lamb, as the company continues to search for buyers of its $47 million bad debt.  Speaking to CNBC on Wednesday, Lamb said more time was needed before it could reopen the platform for […]

CoinFLEX recovery plan includes tokenized bad debt and more yields

Crypto investment platform CoinFLEX aims to rectify its liquidity shortage and restart user withdrawals by selling off bad debt through a new $47 million token offering. The new token is known as Recovery Value USD (rvUSD) and will be worth $1 each. It is designed to help CoinFLEX recover $47 million in losses incurred by […]