Digital currency exchange Bitfinex can't send wire transfers abroad due to its ongoing banking issues, representatives said today.
Responding to users on Reddit, a rep for the firm said that despite initial signs to the contrary, outbound wire transfers are unavailable in Swiss francs and Hong Kong dollars. Bitfinex later released a formal statement on the matter.
Initially, the rep said, wire transfers denominated in CHF and HKD were going out – but then "the vast majority of these wires were rejected over the course of the last week".
Bitfinex went on to say:
"We were advised by our banks that we would be able to process outbound wires in HKD and CHF, and while we were able to successfully process several such transactions, we are now being told that the moratorium is being extended to these currencies, as well. Domestic transfers in all currencies within Taiwan, however, are working with no problems or delays."
The exchange said that in spite of the wire outage, withdrawals and deposits denominated in digital currencies are still working, as well as domestic transfers.
The disclosure marks the latest wrinkle in Bitfinex’s ongoing banking dispute, which surfaced earlier this month. During the first week of April, the exchange said it was unable to process outbound wire transfers in US dollars due to issues with Wells Fargo, which previously acted as a correspondent bank for the financial institutions Bitfinex works with in Taiwan.
Earlier this week, Bitfinex announced that it would not longer be able to accept inbound wire transfers due to the banking dispute.
Stop light image via Shutterstock
China's IT Ministry: 2017 Saw 'Exponential' Blockchain Growth
Nearly 40 percent of all Chinese blockchain startups emerged in 2017 alone, according to a new white paper published by China's Ministry of Industry and Information Technology.
Revealed by the mini
Back Above $8,500: Does Bitcoin's Rally Have Legs?
Bitcoin (BTC) has bounced back above $8,500, but the rally is not backed by decent trading volumes, the technical charts indicate.
The cryptocurrency closed below key technical levels on Thursday,
Former OKEx Chief Joins Rival Cryptocurrency Exchange Huobi
Chris Lee, the former CEO of Hong Kong-based crypto exchange OKEx, has announced he is joining rival platform Huobi as its vice president of global business development.
According to an announcemen
Colorado's Politicians Could Soon Accept Crypto Contributions
The state of Colorado could soon allow political committees to accept contributions in cryptocurrency.
The Office of the Colorado Secretary of State published a new working draft of its "Rules Conc
A $4000 Avalon Miner Only Costs $400 – A Glance of China’s Second Largest Bitcoin Miner Canaan
An Avalon miner was once hyped up to 20,000-30,000 yuan ($3,129 – $4,693) when bitcoin was climbing the peak. While according to the prospectus of Canaan, the ex-factory price of an Avalon miner i
Zcash Leaves Crypto Market Behind with 50 Percent Weekly Spike
The cryptocurrency markets are flashing red as the third week of May comes to close.
The total market capitalization of cryptocurrencies has dropped by 14.48 percent to $366 billion in the last 7 d
Bitcoin Hits One-Month Low As $10K Sell-Off Resumes
Bitcoin's (BTC) drop to one-month lows below $8,000 has strengthened the bear grip on the markets, the technical charts indicate.
The cryptocurrency fell to $7,925 on Bitfinex earlier today - the l
Santander Conducts Proxy Voting Blockchain Pilot at AGM
Banco Santander has completed a blockchain pilot that it says improves the process of proxy voting during annual general meetings (AGMs).
For the project, announced Thursday, Santander partnered wi