Bitcoin Exchange Bitfinex Suspends All Fiat Currency Deposits

Given the recent troubles the Bitfinex exchange has gone through, it is evident something needs to happen. As of last night, the company announced they will be halting deposits for all supported fiat currencies. The company’s Taiwan banks are blocking and refusing all deposits coming in as of today. The reason behind this decision is ultimately unclear. This is now good news by any means, though.

Bitfinex Halting Deposits Is Bad

Things have been unraveling pretty quickly for Bitfinex over the past few weeks. Not too long ago, the company mentioned how US$130m worth of customer funds was locked in their Taiwanese bank accounts. Wells Fargo seemingly refused to accept transfers originating from these financial institutions, which caused a lot of issues. So far, that matter has not been resolved either, but it looks like things are only getting worse.

While it is not necessarily a sign of Bitfinex going the Mt. Gox route, the company is no longer accepting fiat currency deposits as of today. That means any incoming wire transfer will be automatically refused by their Taiwanese banks. Anyone looking to buy bitcoin with fiat

Read more ... source: LiveBitcoinNews

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