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Exchanges

QuadrigaCX delays fund withdrawals by another two weeks

January 21, 2019, 8:00AM EDT

More bad news for QuadrigaCX—the cryptocurrency exchange’s customers reportedly still cannot withdraw their funds, CoinDesk writes. While $19 million of the funds had previously been held due to a court dispute, the company won the case over a month ago. Last week, QuadrigaCX’s customers received another shocking revelation—that the exchange’s CEO and founder Gerald Cotten had passed away at the beginning of December.

The following day, QuadrigaCX sent their customers yet another email, this time signed by Aaron Matthews, the exchange’s interim president and CEO. The message addressed the issue of fund withdrawal problems and assured customers that the exchange is in the process of solving the issue. “Our goal was to resolve this issue within the next two weeks and we remain committed to that goal,” said Matthews in the email.

Moreover, Matthews shared that the company had implemented a few changes to ensure a similar backlog issue would not repeat itself in the future, including new withdrawal limits dependent on levels of customers verification.

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