CoinFLEX Deficit Soars to $84 Million: What Happened with Roger Ver?

CoinFLEX, the crypto investment platform, is facing significant challenges as its deficit has now risen to a staggering $84 million. This news follows CoinFLEX\'s ongoing efforts to recover funds from a "large individual customer" and a recent update directly addressing concerns surrounding Roger Ver.

Initially reported as a $47 million deficit by CoinFLEX co-founders Sudhu Arumugam and Mark Lamb, the situation has deteriorated. CoinFLEX has released a new update regarding its current issue, revealing the increased $84 million deficit. This increase, according to the latest statement from CoinFLEX, is attributed to losses incurred from liquidating a huge FLEX coin stake belonging to that large individual customer.

To recover the US$84 million, CoinFLEX has initiated arbitration proceedings in the Hong Kong International Arbitration Centre (HKIAC). This legal action underscores the seriousness of the situation and CoinFLEX\'s determination to recoup its losses. The exchange also mentioned exploring joint ventures to strengthen its financial position after the crisis.

In response to Roger Ver\'s claims, CoinFLEX clarified the situation, explaining that the deficit climbed to $84 million due to the loss in managing the liquidation. Stay tuned for further updates as the arbitration process unfolds and CoinFLEX works towards resolving this critical financial issue. This situation highlights the risks inherent in cryptocurrency investments and the importance of due diligence.