Why can’t USDT withdraw the currency

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Why can’t USDT withdraw coins?

Why can’t USDT withdraw coins Hello everyone, I am your friend Xiao Mao. I would like to share with you today a question: If the Bitcoin held in your wallet is not frozen, why don’t you transfer these Bitcoins to the exchange? Because this fund does not flow into the platform through over-the-counter trading (OTC), but is deposited and deposited through a bank account, which means that you can send Bitcoin out with this private key; If you pay someone in cash or credit card, but need to use US dollars or euros to pay interest, then you may not receive this digital currency. So, for those who already own digital assets, don’t worry about their private keys being stolen or lost anymore. It’s best to find a professional third-party organization to help them keep them safe Firstly, we need to clarify that when someone wants to borrow $100 million from Bitfinex, Bitfinex will refund him $500 million, which is a huge risk expenditure. Bitfinex has always insisted that ‘legal compensation’ is acceptable, ‘but this is not the case now’. In order to ensure the safety of users, Bitfinex will stop all user withdrawal operations and other steps within 24 hours. We know this is actually a big hole. Therefore, we will first talk about why USDT cannot withdraw currency~

1. Due to the 1:1 anchoring issuance of USDT with the US dollar and the inability to convert into legal currency, USDT has received nearly $200000 worth of USDT at over 200 million addresses so far. According to the New York State Attorney General’s Office’s Investigation Report on the US Government’s Investigation of Bitfinex, the case has been approved by the court and is being investigated by the highest level cyber law enforcement agency According to reports, Bittrex began providing encryption services in 2014 and resumed its services in the third quarter of 2018. However, it was suspended after being reviewed by the Office of Foreign Assets Control (OFAC) of the US Treasury Department. From July to early September 2018, Bitfinex successively completed the investigation on the Federal Trade Commission (FTC) of the United States, and found two cases involving money laundering. In early 2019, the US CFTC officially accused Bitfinex of fraudulent behavior. In response, the International Criminal Police Organization stated that “Bitfinex and its related personnel have engaged in a series of targeted money laundering activities using illegal means.” In addition, there are reports that Bitfinex and Tether have not fulfilled their obligations

USDT is unable to withdraw coins and requires a daily flow

According to Bitcoin. com, USDT was unable to withdraw funds from users starting from December 31, 2017. According to the latest news, in order to ensure smooth cash withdrawal, a large amount of running water is required for processing, which will greatly prolong the waiting time of users. It is reported that the website has resolved withdrawal issues and transaction failures for its clients. According to the previous report, usdt launched a Stablecoin USD based on Ethereum in the middle of October, but suspended the cash withdrawal service because of fear of user funds theft.