Crypto-exchange CoinFlex said it is unlikely customers will be able to withdraw money from their accounts today as originally planned.
“We will need more time. And it’s unlikely that withdrawals will be re-enabled tomorrow,” chief executive Mark Lamb said on Wednesday to CNBC.
The exchange paused withdrawals last week, citing extreme market conditions, and said it is owed roughly US$47mln by an individual investor.
Roger Ver, known as Bitcoin Jesus for his early evangelical views on cryptocurrency, has been named as the individual who owes US$47mln to CoinFlex, although Ver denies this.
However, the exchange is rumoured to be in talks with several large funds interested in buying the US$47mln debt, according to Lamb.
CoinFlex, like many exchanges, has been the victim of the cryptocurrency price crash, with Bitcoin losing more than 50% of its value this year, and 70% from its all-time high last November.