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
Coinbase Taps Twitter Vet to Bolster Customer Support Team
Cryptocurrency startup Coinbase has hired a former Twitter executive in an effort to shore up its customer support teams.
Tina Bhatnagar will serve as vice president of operations and technology, a
IMF Calls for International Cooperation on Crypto
The International Monetary Fund (IMF), an organization that aims to foster global monetary cooperation and financial stability, has called for global coordination on cryptocurrencies, warning of the r
Commodity Merchant Louis Dreyfus Trials Blockchain for Soybean Trade
Louis Dreyfus, a major commodities trading company, has announced that it has piloted a blockchain-based transaction system developed by a group of financial institutions including ING.
Bitcoin tanks more than 10% to below $11,000; South Korea announces details on crypto tax
Bitcoin and other major digital currencies dropped sharply Monday morning. Bitcoin briefly tumbled to a low near $10,234 on Coinbase around 11 a.m., ET, marking a loss of about 11 percent over
Vanguard chief: You will never see a bitcoin fund from us
Vanguard CEO Tim Buckley may think highly of blockchain technology, but he isn't planning in investing in bitcoin anytime soon. Buckley, who succeeded former chief Bill McNabb at the start of the
'I know you cheated on your wife.' Growing blackmail scam demands payment in bitcoin
"I know you cheated on your wife." Those chilling words were in a letter sent to Dave Eargle's home. The then-graduate student found the note in his mailbox and could not believe what he was
Canadian Research Body Pilots Ethereum in Transparency Push
The National Research Council of Canada (NRC), a government initiative, is trialing the ethereum blockchain for recording government contracts.
For the pilot, the NRC is partnering with blockchain
China Moves to Crack Down on Digital Currency Pyramid Schemes
China's public security ministry said on Friday that it will take aim at pyramid schemes in the country, including those that purportedly involve cryptocurrencies.
In a Jan. 19 statement, the Minis