CoinFLEX asks Blockchain.com to return $4.3M worth of FLEX tokens

CoinFLEX issued a notice to Blockchain.com asking the latter to return $4.3M worth of FLEX tokens.
Dot
February 27, 2023
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

TABLE OF CONTENTS
Mark Lamb; Photo Source: Blockworks
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.”



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


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.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn

CoinFLEX asks Blockchain.com to return $4.3M worth of FLEX tokens

HomeCrypto exchanges
Contents
Mark Lamb; Photo Source: Blockworks
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.”



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


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.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

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.”



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


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.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande