The platform blamed this decision on “misleading reports from local media in Argentina” and assured that investors “will not have access” to their funds for two weeks.
RainbowEx withdrawals suspended for 14 days
Amid strong allegations of fraud, RainbowEX, the cryptocurrency investment platform that promised great returns and involved around 20,000 residents of the Buenos Aires town of San Pedroreleased a statement where it announced that money cannot be withdrawn for 14 days.
“Recently, due to misleading local media reports in Argentina, The Argentine regulatory body decided to intervene in the investigation of Rainbow Exchange. We will fully cooperate with relevant departments in the investigation and the investigation time is expected to be 14 business days. To ensure the security of funds and fully cooperate with the investigation, we will temporarily suspend withdrawal services only for users in Argentina and their associated accounts,” the company justified.
The company also stressed that those who invested in the platform will not lose their money, but rather “they simply will not have access to it.” “RainbowEx “You must notify the Argentine government what happens with these funds,” they argued in the midst of the uncertainty that exists among the San Pedro residents.
At the same time, he clarified that in the event of not being able to continue operating in the country, They will comply with “local requirements” and carry out “an orderly exit plan to ensure that all users can successfully exit the market.”
The company blamed the local and national media for the decline in business “the commotion they created”after warn that it could be a pyramid scam.
“All this is what the media has achieved. There are many of us who benefited from the application and those of us who would see a more promising future based on all this. As the poor were progressing and the people were improvingit was annoying to a few and that is why they decided to defame the application and deny us the possibility of continuing to improve,” they noted.
Source: Ambito
