Onchain Data Shows FTX US Paused ETH Withdrawals for 2 Hours, Users Complain of Withdrawal Errors

After FTX International’s genitor steadfast West Realm Shires Services filed for Chapter 11 bankruptcy extortion successful Delaware, users noticed that FTX US was included successful the bankruptcy filings. On the U.S. exchange’s website, the steadfast notes that “trading whitethorn beryllium halted connected FTX US successful a fewer days,” but the company’s ethereum wallet stopped processing transactions astatine 12:20 p.m. (ET) connected Friday. Ethereum and ERC20 withdrawals resumed again astir 2 hours aboriginal astatine 2:15 p.m. successful the afternoon.

FTX US’s Lights Start to Flicker — U.S. Crypto Exchange Warns Trading Will beryllium Halted successful Days

On Friday, astatine 9:14 a.m. (ET), West Realm Shires Services, the genitor institution of FTX International announced that the firm, Alameda Research, and astir 130 further affiliated companies are seeking Chapter 11 bankruptcy protection. In summation to FTX International and Alameda, FTX US was included successful the bankruptcy filings adjacent though FTX’s CEO Sam Bankman-Fried (SBF) said the time earlier that FTX US was a abstracted entity.

The bankruptcy filing reveals that FTX’s and Alameda’s liabilities scope from $10 cardinal to $50 billion. Users were not excessively pleased to spot that FTX US was included successful the bankruptcy proceedings. Furthermore, the FTX US web portal announces that trading whitethorn beryllium halted soon. “Trading whitethorn beryllium halted connected FTX US successful a fewer days,” the website update says. “Please adjacent down immoderate positions you privation to adjacent down. Withdrawals are and volition stay open. We volition springiness updates arsenic we person them.”

Message connected the FTX US website.

Onchain information from a known FTX US ethereum address shows the wallet stopped processing transactions since 12:20 p.m. (ET) connected Friday. The code was processing transactions up until the past transaction of 5,200,000 SHIB near the wallet. The wallet started to spot withdrawals resume again astatine astir 2:15 p.m., according to blockchain explorer data.

FTX’s website says inactive says “withdrawals are and volition stay open,” contempt the deficiency of onchain movement. Well earlier the past onchain transaction, connected Nov. 10, 2022, astatine 11:29 p.m. (ET), FTX International mentioned “ETH withdrawals volition resume shortly” successful respect to FTX US withdrawals.

There’s nary notation of immoderate withdrawal problems from FTX US’s Twitter relationship oregon the main site, but users person been complaining astir withdrawal issues since Nov. 8, 2022. On that day, 1 idiosyncratic wrote: “Anyone having occupation withdrawing BTC from FTX US? My withdrawal has been stuck connected ‘request’ for 6 hours. Please springiness maine feedback.” At 10:27 a.m. connected Friday, different idiosyncratic wrote that they continued to get an mistake connection portion attempting to withdraw.

“Unable to withdrawal via FTX US, adjacent though I’m logged successful via the website, [I] can’t find immoderate lawsuit of this mistake connection anywhere,” the idiosyncratic said.

What bash you deliberation astir the issues radical are having with FTX US and the complaints radical person with SBF due to the fact that helium said FTX US was abstracted and fine? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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