Poolin Terminates Its Bitcoin Wallet Services

PoolinWallet, a bitcoin wallet developed by mining pool Poolin, has suspended services — including withdrawals — for users, citing the need to stabilize its liquidity.

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The PoolinWallet team wrote in a Medium blog that with the move it wants to explore “strategic alternatives with various parties.” It is unclear for how the wallet has suspended withdrawals. The team said:

“We want to assure you that your assets in PoolinWallet are safe and we are expecting to provide the community with more details, and feasible solutions within a week.”

Public Mining Companies Continued to Liquidate Bitcoin Reserves in July

In the meantime, Poolin announced it would waive fees for mining services until December of this year for users holding 1 BTC or 5 ETH, citing difficulties related to the wallet.

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