CoinFLEX’s letter to Blockchain.com said, “[Blockchain.com has] failed, refused, and/or neglected to repay the 3,000,000 FLEX coins that are long overdue to be repaid.”
Insolvent crypto exchange CoinFLEX issued a notice to Blockchain.com asking the latter to return $4.3M worth of FLEX tokens.
According to sources, CoinFLEX claimed that it lent 3M FLEX tokens to Blockchain.com in four separate loans issued between March and June 2022.
The official letter penned by CoinFLEX has set March 7 as the deadline for Blockchain.com to confirm the repayment. Thereafter, Blockchain.com will need to repay the $4.3M worth of FLEX tokens by March 21.
CoinFLEX said it will seek legal action against Blockchain.com in the form of a statutory demand should the latter refuse to repay the outstanding loans.
“If [CoinFLEX] is compelled to enforce its legal rights against [Blockchain.com], it will naturally look towards [Blockchain.com] for the maximum amount of interest and costs that is recoverable at law.”
In response, Blockchain.com refuted CoinFLEX’s claims, adding,
“CoinFLEX’s claim is completely meritless and a work of fiction from an insolvent company currently being sued by its customers for dissolution.”
Blockchain.com instead stressed that CoinFLEX has yet to repay the firm for its services. The exchange also announced its intentions to seek remuneration from CoinFLEX soon.