Service Freeze Continues at Digital Currency Exchange Celery

Services remain halted on digital currency exchange Celery, a week after the freeze was first announced.

AccessTimeIconMay 10, 2017 at 7:25 p.m. UTC
Updated Aug 18, 2021 at 6:08 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Services remain halted on digital currency exchange Celery, a week after the freeze was first announced.

On 4th May, the New York-based exchange posted an update to its website, stating that it was suspending withdrawals, deposits and existing orders. Yet the statement was short on details, and as of today, the exchange has not yet detailed its reasoning behind the stoppage.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • When reached for comment, founder Ilya Subkhankulov said that he was in the process of drafting an update on the situation, though when asked about the timing he said that "an update today is unlikely".

    In the meantime, users have continued taking to social media to criticize the lack of clarity. Some users reported that when they were able to log in to the site, their balances showed no funds. At least one user claimed to have sent complaints to federal agencies like FinCEN and the Federal Trade Commission.

    According to Subkhankulov, the reported issue is "an unintended side effect of the system-wide freeze".

    Celery was launched in 2014 by BTX Trader, a multi-exchange trading platform.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.