Metamask Ends Partnership With Wyre Following 90% Withdrawal Limit Update
Wyre, a cryptocurrency payment platform, has changed its payment policy and now only allows for 90% withdrawals. Metamask, a cryptocurrency wallet platform, has urged customers not to utilize Wyre on its mobile platform.
Limited Withdrawal On Wyre
Two employees from the crypto payment platform recently alerted the community about Wyre’s intention to shut down its operations. The Wyre team announced a modification to their withdrawal strategy on January 7th, allowing customers to withdraw only 90% of their holdings on the site.
According to them, this limited withdrawal was in the best interests of the community; and in their defense, they asserted they adopted this method to allow consumers to withdraw only 90% of their assets in order to help users weather the crypto market’s storm.
According to an excerpt from their statement, the team informed the public that they had made some adjustments to their withdrawal strategy and that certain alterations had been made.
They also mentioned that the open window for clients to withdraw will be maximized up to 90%; users will only be allowed to withdraw 90% of their assets on the site.
Further information was provided, indicating that the withdrawal policy may change in the coming days.
Because of the team’s recent withdrawal approach, Metamask, a crypto wallet provider, canceled its cooperation with the Wyre payment network.
Metamask Ends Partnership With Wyre
The wallet platform declared that it will no longer accept the Wyre platform into its mobile aggregator. Metamask further advised consumers not to utilize the Wyre platform on the mobile aggregator.
It also mentioned that its team is working to disable the extension and completely disconnect from the payment platform.
This action followed allegations that the Wyre payment platform would seize all operations and shut down.
Recently, two Wyre employees issued a public warning to the community about the prospect of the Wyre payment platform seizing all operations and closing down.
When this information became public, the Metamask platform made the drastic decision to protect investors’ assets.
Metamask said on January 5th that it had deleted the Wyre platform from its mobile aggregator.
Many speculate that the team’s limited withdrawal policy from the Wyre platform is a stealthy move to close down operations soon.
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