chepicap.com
The London Block Exchange has issued a statement in response to recent allegations concerning its insolvency. On Twittter, popular crypto podcaster Peter McCormack is continuing to point out potential red flags with LBX.
The startup had initially been advised by lawyers to not respond to McCormack's allegations, which followed a creditor taking LBX to court in order to put its debt on the public record. LBX has now come out to publicly insist that it is not going out of business.
According to the statement, insolvency allegations "are erroneous and misleading...rest assured that any clients funds are entirely ring fenced, and separate funds are in place to satisfy any pension obligations".
Comments in this post on @LBXSocial are telling:https://t.co/srgXm4zNyh
— Dr. Peter McCormack - Full Stop (@PeterMcCormack) April 29, 2019
McCormack claims that LBX's funds are probably safe due to regulatory compliance requirements that are in place in the UK. He also pointed out comments on a tweet regarding withdrawals and deposits on LBX. Serious liquidity issues still appear to be affecting users of the platform.
Funds aren’t in LBX, aren’t in my bank. I have no transaction history of the fiat transfer nor confirmation. Without the above funds are missing. Plus condescension isn’t appreciated. I’m re testing your trust, not your service after talking with Luke RE an OTC account. So Fr 👎
— Sink or Swim (@Akasost) February 4, 2019