Share this article
Belgian Crypto Lender Bit4You Suspends Activities After Service Provider Declared Insolvent
Bit4You learned of CoinLoan's insolvency on April 24, and that it no longer has the necessary registration as a digital asset custodian.
Updated May 9, 2023, 4:13 a.m. Published Apr 27, 2023, 4:25 p.m.
Belgian cryptocurrency lending platform Bit4You has suspended its operations after one of its service providers, CoinLoan, was declared insolvent by a court in Estonia.
Bit4You learned of CoinLoan's insolvency on April 24, and that it no longer has necessary registration as a digital asset custodian, the lender said in a blog post on Wednesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
There has yet to be any indication that the funds held with CoinLoan will not be recovered, Bit4You added.
Bit4You listed the quantities of different assets it had stored on CoinLoan, including 145.3 BTC ($4.2 million), 1097.5 ETH ($2.1 million) and 501.1 BNB ($166,000).
A court in Estonia ordered CoinLoan to halt its operations, including withdrawals, on Monday. Last June, the platform limited withdrawals to $5,000 per 24-hour period to stave off a run on its funds, following the fallout from the collapse of the Terra ecosystem.
Read More: Voyager Digital Says Binance.US Sent Letter Terminating $1B Asset Buy Deal
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
DAWN raises $13M to expand decentralized broadband networks
The decentralized wireless protocol plans U.S. expansion and new international deployments as investors back a user-owned alternative to legacy internet providers.
What to know:
- DAWN raised $13 million in a Series B led by Polychain Capital.
- The protocol enables individuals and organizations to own and monetize wireless broadband infrastructure.
- New funding will support U.S. growth and international rollouts.
Top Stories
