Announcement on limits of coin withdrawal by ClassicBX risk control team

Dear users:

To maximize the safety of your funds, coin withdrawal is limited for risk control reasons. Details of the asset with limitss are as follows:

Withdrawal Conditions

1. Coin withdrawal channels with limited time and amount: off-site deposit (recharge), Ybay, transfer.

* The assets recharged/deposited into the account by the above channels will be subject to the time limit of withdrawal, and cannot be used for withdrawal of coins, red envelopes, Ybay, co-management wallets, etc. during the restricted period.

2. Depending on the time of account registration, the time limit for withdrawal is different.
3. Users with less than30 days of account registration, the limited time for withdrawal is: T+2 (user assets take 48 hours to withdraw)
4. Users with more than30 days of account registration time, the limited time for withdrawal is: T+1 (user assets take 24 hours to withdraw)

Restrictions

The value of the assets with limits is calculated in different currencies, and as the market price fluctuates, the value of assets with limit fluctuates

When the value of the wallet account balance > the value of the balance of the asset with limit, coin can be withdrawn

Take BTC as an example:

Assuming the current BTC market value is 30000 USDT, Xiaohong account originally has 3000 USDT, Xiaohong recharged 1 BTC.

When Xiaohong holds BTC, the actual asset with limits is 1 BTC equivalent, withdrawable is 3000 USDT (1 BTC remaining in the account), or 0.1 BTC has been withdrawn (0.9 BTC + 3000 USDT remaining in the account).

When Xiaohong sells BTC (at 30000 USDT), her wallet asset is 33,000 USDT, when the BTC price falls to 20,000 USDT, the actual asset with limits is 20,000 USDT, and the withdrawable balance is 13,000 USDT. Similarly, when BTC price increases, it is necessary to ensure that the remaining asset value is 1 BTC.

In this case, the withdrawal is performed on the premise that the remaining asset value is equal to 1 BTC.

*it also applies to other coins with the same rules

The scenarios below are excluded:

Instant Exchange, Leverage trading, Instant Perpetuity, strict selection, DeFi coins earning, etc

ClassicBX has been dedicated to the ‘user first’ mission, constantly strengthening risk control measures, and monitoring industry dynamics. Protection of users' assets is always crucial for us. If you have any questions, you can contact the customer service officers for details.

Thank you for your understanding and support.

ClassicBX team

July 2, 2021