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Bitcoin Jesus Roger Ver accused of owing tens of millions of dollars, forcing CoinFLEX to pause withdrawals and fundraising.

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Bitcoin Jesus Roger Ver accused of owing tens of millions of dollars, forcing CoinFLEX to pause withdrawals and fundraising.

The CoinFLEX exchange recently encountered issues, announcing a suspension of withdrawals, alleging that "Bitcoin Jesus" Roger Ver owes $47 million. The platform planned to issue a token called "rvUSD" with a 20% return to raise funds for restoring withdrawals. However, the token sale did not perform well, leading to the cancellation of the withdrawal recovery plan.

1. 6/24 | CoinFLEX Suspends Withdrawals

According to an announcement by CoinFLEX, CEO Mark Lamb stated that due to "extreme market conditions" and "uncertainty among trading counterparts," the platform is taking the following actions:

  • Suspending all withdrawals
  • Temporarily halting FLEX Coin perpetual contracts and spot trading
  • Expected to resume withdrawals on 6/30

Mark Lamb emphasized that the "trading counterpart" is not 3AC of Three Arrows Capital or Celsius, which are crisis-stricken lending platforms.

2. 6/28 | Plans to Issue rvUSD

In an announcement, it was hinted that a high-net-worth long-term user on the platform had a negative balance while other accounts did not, leading CoinFLEX to suspend withdrawals and introduce a solution called Recovery Value USD (rvUSD).

The announcement described the user as highly trustworthy, having significant funds, and operating multiple unicorn private companies on the platform, all of which had met margin call requirements in the past. Perhaps due to excessive market volatility, the user did not meet the margin call this time.

The previously scheduled withdrawal date of 6/30 will depend on the amount raised for rvUSD. If CoinFLEX's offering is fully subscribed, the platform will restart withdrawal services.

3. 6/29 | Bitcoin Jesus Clarifies

Roger Ver pointed out that these rumors are false. Not only does he not owe any debts, but CoinFLEX also owes him a substantial sum, and he is currently seeking asset return.

4. 6/29 | Accusations Against Bitcoin Jesus

In a tweet, Mark Lamb indicated that Roger Ver, the high-net-worth individual, owes CoinFLEX $47 million and has issued a default notice.

Roger Ver denies any connection to this debt. Therefore, it is necessary to clarify that this debt is entirely related to his account. As a citizen of the European Union, we believe he holds significant assets in the United States, the United Kingdom, and other countries. His claim that CoinFLEX owes him a substantial sum is absolutely incorrect. Unfortunately, Roger Ver is throwing out these claims to shift his responsibility and debt.

5. FatMan's Revelation

Well-known Terra ecosystem informant FatMan immediately commented on 6/29 under Roger Ver's clarification post:

Are you accusing CoinFLEX because they liquidated one-third of your 500,000 BCH holdings?

Going back to 6/28, FatMan had already revealed information during CoinFLEX's plan to issue rvUSD.

He pointed out that CoinFLEX provided a $47 million unsecured loan to someone who could not pay, and now, to allow other users to withdraw, they chose to package this debt into tokens and sell them to users, promising a 20% return.

FatMan cited insider sources, stating that the high-net-worth user is the Bitcoin Cash advocate and CoinFLEX shareholder Roger Ver, who had gone long on BCH on the platform and was allowed to be in a deficit because he promised to repay the money.

Furthermore, there seems to be limited interest in rvUSD from the public. CoinFLEX has postponed the original plan to resume withdrawals on 6/30 due to the token not being fully sold, and they emphasized that once the tokens are sold out, they will release a clear withdrawal plan.