The platform, Vauld, said Monday that it froze the operations after users pulled almost $200 million over the last three weeks. A sharp decline in cryptocurrency prices that began with the collapse of two cryptocurrencies in May has spooked traders and caused knock-on effects in the digital asset world.
Crypto broker Voyager Digital temporarily suspended trading, deposits, withdrawals and loyalty rewards Friday. Major crypto lender Celsius Network LLC has paused withdrawals and has tapped advisers to prepare for a possible bankruptcy, The Wall Street Journal previously reported. Crypto hedge fund Three Arrows Capital Ltd. has been ordered to liquidate.
Source: Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals – WSJ