Important message to all CoinLoaners
A Notice of restraint on disposition received yesterday, April 24, 2023, obliges CoinLoan to halt all operations for its users, including withdrawals. This action is unexpected and has immediate effect. As a result, we have no choice but to comply with the said requirements. We are doing everything in our power to resolve this situation as quickly as possible.
Our legal entity in Estonia (CoinLoan OÜ) is part of the CoinLoan group, and the interim trustee’s approval is now mandatory for any operations involving any interaction of CoinLoan OÜ within the group that may entail any obligations for CoinLoan OÜ. Receiving such approval may take several business days. We will share more information as it becomes available.
Our legal team has provided sufficient arguments to prove CoinLoan’s ability to fulfill its obligations. The appointment of the interim trustee seems to be the easiest way for the court to find a solution by letting an independent third party verify the financial situation of the company. We are going to file an appeal, but we must also obey the existing court ruling.
Pausing all activities on the platform is a difficult decision, and we have made it with a heavy heart. We understand that this news has an impact on all CoinLoaners, whose interests have always been our priority. We will work diligently to meet our obligations, taking all the necessary steps to protect and preserve users’ assets.
Without prejudice disclaimer. Nothing contained in this Blog (or published by CoinLoan otherwise) shall be interpreted and used against CoinLoan or be detrimental to any of its rights. All information publicly disclosed by CoinLoan herein or elsewhere shall be without prejudice to (i) any CoinLoan's rights or interests whether addressed in this Blog or not, and (ii) any position that CoinLoan may take in legal or administrative proceedings.