TechFlow news — Estonian crypto lending platform CoinLoan announced in a statement that on April 24 it received a notice restricting asset disposal, requiring it to halt all user operations, including withdrawals.
The announcement also stated that CoinLoan cannot dispose of assets without the consent of the provisional liquidator. It hinted that insolvency proceedings are underway, although CoinLoan itself has not yet confirmed whether it has filed for bankruptcy. CoinLoan described the notice as "unexpected," said these changes would take effect immediately, and added it had "no choice but to comply."
CoinLoan previously restricted user withdrawals in July 2022 and further reduced withdrawal limits in November 2022. It remains unclear whether these withdrawal restrictions have been lifted.
