{"id":464326,"date":"2022-06-17T13:44:32","date_gmt":"2022-06-17T10:44:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/finblox-withdrawal-restrictions-trigger-concerns-from-the-community\/"},"modified":"2022-06-17T13:44:32","modified_gmt":"2022-06-17T10:44:32","slug":"finblox-withdrawal-restrictions-trigger-concerns-from-the-community","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/finblox-withdrawal-restrictions-trigger-concerns-from-the-community\/","title":{"rendered":"# Finblox withdrawal restrictions trigger concerns from the community"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2c2a25098bb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2c2a25098bb\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/finblox-withdrawal-restrictions-trigger-concerns-from-the-community\/#%E2%80%9D_Finblox_withdrawal_restrictions_trigger_concerns_from_the_community_%E2%80%9C\" >&#8221; Finblox withdrawal restrictions trigger concerns from the community  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Finblox_withdrawal_restrictions_trigger_concerns_from_the_community_%E2%80%9C\"><\/span>&#8221; Finblox withdrawal restrictions trigger concerns from the community  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMjFiZGIxY2UtMjEwNC00YjNjLWE0YTQtZmJiODYxYTkyMmJiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>In a tweet, Finblox <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/finblox\/status\/1537414199890296838\">announced<\/a> that the firm is assessing the effects of 3AC\u2019s situation on its liquidity. While the firm does this, it highlighted that it paused its reward distribution for all of its users and lowered its monthly withdrawal limit to 1,500 USD.<\/p>\n<p>Many of the platform\u2019s users were <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/anonymo47767911\/status\/1537595923433410560\">disappointed<\/a> with the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, sharing their frustrations about not being able to withdraw their funds. On the other hand, community members <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoSteveWand\/status\/1537719640134242304\">started<\/a> calling out Finblox\u2019s 90% Annual Percentage Yield (APY) offer on staking Axie Infinity Shards (AXS) as unsustainable.<\/p>\n<p>According to Finblox user Terence Lee, he has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/terenceleejx\/status\/1537620619797245952\">withdrawn<\/a> his assets from Finblox during the Terra (LUNA) collapse. He noted that it&#8217;s becoming more clear that lenders who offer large returns were &#8220;taking too much risk.&#8221;<\/p>\n<p>In response to the current situation, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user Gofortim2 called out to lending platforms to be more transparent. They tweeted:<\/p>\n<p>Finblox, a crypto-staking platform backed by Three Arrows Capital (3AC) has paused reward distributions and tightened its withdrawal limits. Following this, community members expressed concerns over their assets, with some calling for transparency and bringing up decentralization.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">(2\/6) Be 100% transparent. <\/p>\n<p>Be brutally honest on what was lost and where assets are deployed currently. Vague statements make it impossible to know exactly how risky things are.  Poor decisions would surface eventually so why bother even hiding things?<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/STxjDFRVOu\">https:\/\/t.co\/STxjDFRVOu<\/a><\/p>\n<p>\u2014 0xTim.eth (@gofortim2) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/gofortim2\/status\/1537430738261245953?ref_src=twsrc%5Etfw\">June 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nAdditionally, the Twitter user noted that it may be time for firms to lower their APY rates as it has become an ineffective tool for attracting users, now that users are fearing for the safety of their assets.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Su Zhu\u2019s cryptic statement as rumors swirl of 3AC liquidations and insolvency<\/em><\/strong><\/p>\n<p>On June 16, the CEO of 8 Blocks Capital, Danny Yuan publicly called out platforms that hold assets that are owned by 3AC, requesting them to freeze the company&#8217;s funds. Yuan claimed that they detected a sum of $1 million missing from their accounts with 3AC. <\/p>\n<p>Meanwhile, a report noted that the firm borrowed Bitcoin (BTC) from lending platform BlockFi and was not able to meet a margin call, following the market&#8217;s downturn this week. Some even estimate that 3AC has gotten liquidated by $400 million in multiple positions. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/finblox-withdrawal-restrictions-trigger-concerns-from-the-community\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Finblox withdrawal restrictions trigger concerns from the community &#8220; In a tweet, Finblox announced that the firm is assessing the effects of 3AC\u2019s situation on its liquidity. While the firm does this, it highlighted that it paused its reward distribution for all of its users and lowered its monthly withdrawal limit to 1,500 USD&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":464327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMjFiZGIxY2UtMjEwNC00YjNjLWE0YTQtZmJiODYxYTkyMmJiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74894,74863,77595],"class_list":["post-464326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-blockchain","tag-cryptocurrencies","tag-lending"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=464326"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464326\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/464327"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=464326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=464326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=464326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}