Cointime

# Poolin Wallet

ALL From Poolin Wallet

Singapore Arbitrator Rules Against Mining Software Firm Poolin’s IOU Model, but the Firm Hasn’t Paid Yet

An independent arbitrator in Singapore has ordered embattled crypto mining software firm Poolin to return 88 bitcoins (BTC), worth about $1.5 million at recent prices, to a customer whose withdrawals were halted and crypto turned into I-owe-you (IOU) tokens.

Singapore Arbitrator Rules Against Mining Software Firm Poolin’s IOU Model, But the Firm Hasn't Paid Yet

Poolin had issued I-owe-you tokens in exchange for its users’ crypto deposits. A Singapore arbitrator said that’s not OK.