Poolin is a cryptocurrency mining pool announced It will stop Bitcoin (BTC), Ether (ETH), withdrawals via its wallet service.

Poolin stated in the announcement:

“We are here to let you know the withdrawal options of Pool Account and Poolin Wallet are deactivated while setting payout wallet addresses. That is, you will only be allowed to set external wallet addresses and all the payout will be regularly made per day.”

Poolin is temporarily halting the withdrawals because of “liquidity issues” due to the recently increased withdrawals.

When will the withdrawals be resumed?

Poolin’s support noted in its Telegram channel that it was impossible to give the exact time when normal operations will resume through it said it might not be long. The mining pool’s help page had, however, indicated that the resumption plans would be announced in two weeks’ time.

Telegram’s note stated:

“Please be assured, all user assets are safe, and the company’s net worth is positive. We will take a snapshot on September 6th of the remaining BTC or ETH balances to determine the balances. Normally, the daily mining coins will be paid out each day after September 6th. Other coins are not affected.”

Poolin mining pool

Poolin is a Chinese-based mining pool. It is the fourth-largest crypto mining pool worldwide, having been founded in 2017. Foundry USA and AntPool are the other largest mining pools. F2Pool is third.

Poolin has mined around 10.8% Bitcoin blocks during the last 12 months.