Statement from the Developers of Altcoin, Said to Went Bankrupt! Users Can’t Withdraw Their Money! Developers Called It “FUD”

The developers of the altcoin, which recently had bankruptcy rumors and experienced a really serious drop in price, have released a statement on the subject.

THORChain ($RUNE) has suspended its Bitcoin and Ethereum loan and savings programs amid bankruptcy rumors. The altcoin, which is also listed on Binance, is trading 38% lower than a week ago at the time of writing.

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 last 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 proceeding smoothly.”

However, under this post by THORChain, many users, and especially lenders who are investors in the platform, complain about not being able to withdraw their funds.

One of the platform's main developers argued in a statement that the platform continues to operate normally:

“THORChain is operating 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 features are fully operational.

“This temporary pause on THORFi refunds was made out of an abundance of caution to protect the network and its participants. This decision ensures the protocol remains stable while the community agrees on a comprehensive plan to reduce liabilities.”

*This is not investment advice.