The developers of the Altcoin, who recently had bankruptcy rumors and experienced a really serious price drop, released a statement on this topic.
Thorchain (Rune) has suspended its Bitcoin and Ethereum lending and savings programs amid bankruptcy rumors. The Altcoin, which is also listed on Binance, is trading 38% lower at the time of writing than it was a week ago.
However, in a statement today, the developers called the bankruptcy rumors FUD, arguing that the platform had reached an impressive swap volume of $320 million in the past 24 hours, a testament to its resilience and breadth of use:
“Despite the FUD, Thorchain is fully operational, with swaps, LP deposits, withdrawals and Rune transfers continuing smoothly.”
However, under this message from Thorchain, many users, especially lenders who are investors on the platform, complain that they cannot withdraw their funds.
One of the platform’s key developers stated in a statement that the platform continues to operate normally:
“Thorchain is working normally. Following a vote by node operators, refunds for Thorfi Lending and Savings products have been temporarily suspended. Core functions including swaps, LP deposits, withdrawals, Rune transfers and all other functions are fully operational.
“This temporary pause on Thorfi refunds is made out of an abundance of caution to protect the network and its participants. This decision ensures that the protocol remains stable while the community agrees to a comprehensive plan to reduce liabilities. ”
*This is not investment advice.
