Regarding withdrawals, CoinList dispels “FUD” and attributes delays to technological problems.

CoinList attributed the reported withdrawal issues to “custodian issues,” one of which resulted in an outage that affected “several tokens” on the site.

CoinList, a cryptocurrency exchange and ICO platform, turned to Twitter to dispel “FUD” after a blogger posted that users had reported being unable to withdraw money for more than a week, leading to concerns the company was experiencing liquidity problems or was insolvent.

The exchange is “not insolvent, illiquid, or close to bankruptcy,” CoinList claimed in a post on Twitter on November 24. “There is a lot of FUD floating around that we would like to address head-on.” But it claimed that “technical difficulties” were affecting its deposits and withdrawals.

Earlier, the 245,000 people who follow the cryptocurrency-focused blog Colin Wu had tweeted that “certain community members” utilizing CoinList have been unable to withdraw for more than a week owing to maintenance.

Wu claimed in a tweet that CoinList’s $35 million creditor claim against the insolvent crypto hedge fund Three Arrows Capital was a “loss,” which probably raised questions about the company’s viability or liquidity.

To allay concerns that have led to bank runs on other platforms, CoinList stated that “several custodians” are involved in the movement of wallet addresses as well as an upgrading to its internal systems.

The company stated that a number of cryptocurrencies “are taking longer than anticipated to migrate” due to unexplained “custodian issues,” with one of its unnamed custodian partners experiencing a “outage […] unconnected to the migration” on Nov. 23 that had an impact on tokens on the platform.

On its status page, withdrawals are listed as having “degraded performance,” with four cryptocurrency showing withdrawal delays since November 15 and one showing delayed deposits since November 16.

Once more, there is no liquidity shortage; this is only a technical problem, according to CoinList. It asserted to have “dollar for dollar” ownership of “all user assets” and stated that its proof of reserves would be made public.

For more details, Cointelegraph contacted CoinList, but did not immediately hear back.

CoinList asserted on November 14 that it had no connection to the now-defunct FTX exchange, but consumers are becoming more wary of centralized platforms and have hurried to secure safe custody of their money, as shown by the spike in sales Trezor and Ledger reported in mid-November.

At the same time, decentralized exchanges experienced an increase in activity as outflows of stablecoins and Bitcoin $16,410 from exchanges reached record highs.

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