Crypto Lending Platform Sandbank Temporarily Suspends New Deposits and Investment Features in Response to Crypto Market Challenges

Zach Anderson   Jun 20, 2023 11:18

Sandbank, a leading crypto lending and investment platform, has announced its temporary suspension of new deposits and investment features in response to the challenges and uncertainties prevailing in the crypto market. The platform aims to ensure a secure environment for users to engage in their investment activities.

In recent times, numerous crypto companies have encountered serious challenges due to tightening regulations and inherent flaws in their business models. Just a few days ago, Delio and Haru Invest, two Korea-related crypto lender platforms, halted their withdrawal services. It is worth noting that Delio is a regulated entity holding both Korea's Virtual Asset Service Provider (VASP) and the USA's Money Services Business (MSB) licenses.

Despite the tumultuous climate, Sandbank claims to reassure its users by affirming the uninterrupted availability of its withdrawal and asset management functions. The platform remains committed to supporting its users in maintaining a healthy and prosperous crypto investment journey. Sandbank pledges to uphold the highest standards of service and will continue to assist customers throughout their investment endeavors.

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