Why did Gemini suspend withdrawals?

3 answers

• fridgekidoMay 21, 2025 · 4 months ago
  Gemini suspended withdrawals due to a security breach that occurred recently. The exchange took this precautionary measure to protect its users' funds and investigate the incident thoroughly. Gemini has always prioritized the security of its platform and takes any potential threats seriously. Users can rest assured that their funds are safe and the exchange is working diligently to resolve the issue and resume normal operations as soon as possible.
  452

  226
• Bhavish NadarApr 30, 2022 · 3 years ago
  Gemini suspended withdrawals temporarily as a proactive step to address a potential vulnerability in their system. By suspending withdrawals, they can thoroughly investigate the issue and implement necessary security measures to prevent any potential loss or compromise of user funds. This decision demonstrates Gemini's commitment to maintaining a secure and trustworthy platform for its users.
  395

  132
• Gustavo CervantesSep 02, 2022 · 3 years ago
  As a third-party observer, it is important to note that Gemini's decision to suspend withdrawals is a responsible action in response to a security incident. This incident highlights the ongoing challenges faced by cryptocurrency exchanges in ensuring the safety of user funds. It is commendable that Gemini took immediate action to protect its users and address the issue. This incident serves as a reminder for all cryptocurrency exchanges to prioritize security and implement robust measures to safeguard user assets.
  519

  130