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Cryptocurrency News

Vauld Singapore crypto exchange freezes withdrawals

07/05/2022

Less than a minute

2022.07.05 18:36

Vauld Singapore crypto exchange freezes withdrawals

Crypto contagion claims another casualty. In a statement, Singapore-based crypto exchange Vauld has made the “difficult decision to suspend all withdrawals, trading and deposits on the Vauld platform with immediate effect.”

In what appears to be a run on the crypto bank, the group intends to “apply to the Singapore courts for a moratorium,” as Vauld customers have tried to withdraw an “excess of a $197.7 million since 12 June 2022.”