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A comment on FTX Appears to Have Stopped Processing Withdrawals, On-Chain Data Show. Parent comment

Re:FTX Appears to Have Stopped Processing Withdrawals, On-Ch... by Scoundreller on Tuesday November 08, 2022 @10:19AM (#33519911)
I’m still trying to decide if stopping withdrawals is smoke, or is the fire.
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Re:FTX Appears to Have Stopped Processing Withdrawals, On-Ch... by joyfylbanana on Tuesday November 08, 2022 @10:41AM (#33520169)
It is fairly common for exchanges to have (short) pauses in withdrawals. The majority of funds are in a cold storage, and for security reasons it usually takes some time to get the funds out from there "live".

If lot of people are withdrawing at once, it would cause minor inconvenience to any exchange. They have to transfer funds from cold storage, and that takes time. It is almost impossible to determine if an exchange is solvent or not until you know their cold storage addresses.

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Re:FTX Appears to Have Stopped Processing Withdrawals, On-Ch... by Scoundreller on Tuesday November 08, 2022 @11:54AM (#33521204)
Stopping withdrawals is definitely a fire if cold storage addresses are a mystery.
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Re:FTX Appears to Have Stopped Processing Withdrawals, On-Ch... by asdajksah2123 on Tuesday November 08, 2022 @01:39PM (#33522584)
The cryptocons will assure us that it's actually unicorn farts.
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Re:FTX Appears to Have Stopped Processing Withdrawals, On-Ch... by somuchfordonor on Tuesday November 08, 2022 @05:55PM (#33525431)
Well it turned out to be fire.
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