Belgian cryptocurrency lending platform Bit4You has suspended its operations after one of its service providers, CoinLoan, was declared insolvent by a court in Estonia.
Bit4You learned of CoinLoan's insolvency on April 24, and that it no longer has necessary registration as a digital asset custodian, the lender said in a blog post on Wednesday.
There has yet to be any indication that the funds held with CoinLoan will not be recovered, Bit4You added.
Bit4You listed the quantities of different assets it had stored on CoinLoan, including 145.3 BTC ($4.2 million), 1097.5 ETH ($2.1 million) and 501.1 BNB ($166,000).
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