Cryptocurrency mining pool Poolin announced that its service PoolinWallet is halting all withdrawals, flash trades, and internal transfers within the system from September 5. According to the company, the aim is to preserve assets and stabilize liquidity along with operations amid the dull market. Poolin added they will keep exploring strategic alternatives with different parties.
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The mining pool assured users that their assets are safe and the team will provide the community with more details and solutions.
In another blog post, Poolin introduced zero-fee promotions and settlement adjustments for Bitcoin and Ether.
Bitcoin miners have been facing challenges with the price of the coin being down and seeing volatility. Currently, the coin trades at below $20,000 with a market cap of around $381 bln.