Finblox implements withdrawal limits and pauses rewards due to exposure to Three Arrows Capital

Finblox is a crypto yield farming company that describes themselves as a "savings platform" and promises "up to 90% APY on your crypto!". They announced they would be preventing users from withdrawing more than $1,500 from the platform, or earning the rewards they were initially promised. In an announcement, Finblox wrote that they were making the changes due to "numerous media reports" about Three Arrows Capital, a hedge fund and investor in Finblox which is widely rumored to be insolvent amidst the crypto downturn.

Finblox announced that all users would only be able to withdraw up to $500 a day, up to a monthly maximum of $1,500—quite a change from the $50,000/day withdrawal limit for some of their users. They also wrote that they would be pausing reward distributions, and delaying their referral program and deposit rewards, and preventing newly registered users from creating new crypto addresses.

Finblox ended the message to their users by saying they would "do everything in its power to protect our users' funds and reinstate our services in full", but such a dramatic move seems to suggest the platform is another domino to fall as companies collapse throughout the crypto ecosystem.