The Wyre platform implemented an asset withdrawal limit for its users, just days after a rumor about a possible closure surfaced.
As indicated by those in charge of the cryptocurrency platform, this limit arises to protect the interests of the community. Now users can withdraw up to 90% of their funds as the company explores strategic options to weather the prolonged bear market.
News reports suggest that a collapse of Wyre caused its partnership with crypto wallet, MetaMask, to break. On Jan 5, the processor announced that it would remove Wyre from its mobile aggregator, which used to allow users to purchase cryptocurrency directly from the digital wallet.
“We are currently working on removing the extension and appreciate your patience,” MetaMask said, asking users not to use Wyre on the mobile aggregator.
(Reference image source: Forbes Mexico, via web)