Deposit suspension

What is a deposit suspension?

Deposit suspension is a period during which deposit activity for affected assets is halted. This allows the asset management team to assess the situation and make necessary changes. Deposit suspension can last for a few days or weeks, depending on the asset in question or it can even lead to asset delisting altogether.

Why is Qovex suspending deposits?

We’re suspending deposits for various reasons, but the most common ones may include regulatory compliance, technical considerations, such as the fact that a trading pair may not be compatible with our technology, or that there is limited liquidity. In some cases, an asset may be delisted simply because of business related reasons.

How long will the deposit suspension last?

The deposit suspension will remain in effect until further notice and can even be followed by delisting of the asset. This is to ensure that all customers are protected and that we can properly investigate all claims.

What do I need to do if I own one of the affected assets?

We recommend that you reorganize your portfolio: sell the assets before the deadline, withdraw them, cancel any open orders, and don’t initiate any new deposits.

Will I still be able to withdraw?

Yes, you will be able to withdraw your funds for quite some time but not indefinitely. We'll notify you when the withdrawal deadline approaches.

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