Omg tried to withdraw money from chocolate finance cannot immediate withdrawal. Say need up to 10 working days to withdraw

[qhong61]

U have been scam

 

[wwenze]

10 days?

Ibkr is like 2 business days lol

I would seriously question the liquidity

 

[BaChorMee]

Like hodlnaut?

I remember that time Luna crash, hodlnaut also delay withdrawal and clarify that they are not affected by the crash, then a while later also uplorry.

But chocolate is not a crypto company like hodlnaut lei

Their operation model is the same , giving higher returns for your money but is sexposed to market risk. Maybe they also tio burn by US markets. Otherwise should not delay withdrawals. because they depends on customer deposits to churn more money

 

[EJB]

I withdraw $500 over yesterday, ok leh, instant.

 

[Weeli85]

This morning 6.15am still can withdrawed.... still left 1k inside -.-|||

Notice their server keep maintaining...

 

[Laneige]

Incorporated where
Why go put in such places
That’s why some onljne banks offered high rates I don’t dare to go also

 

[AndroidComa]

they also only allow 20K immediate withdrawals, why need such a long processing time tbh?
ppl who wanna run from the platform need take 2-3 days....

dun blame DBS DBS also up already, this is the CEO f up big time

 

[BaChorMee]

But got so many influencers endorsed them lei

I remember that time , Luna, FTX, Hodlnaut also many influencers endorse

 

[SkyNinja]

I trust local banks

 

[FireEmblem]

from economic point of view their current biggest issue is with bank run… i personally doubt they kept more than 10% in liquid cash… in reality our local bank dont have so much liquidity as well… if 10-20% of people decide to run will also trigger liquidity issue… the only difference is bank is sdic insured…

that why reputation in financial sector super important… as long one missteps trust all gone

Difference is that if people know their money is protect by deposit insurance, they probably dun make a run to withdraw unlike this chocolate finance.

News must have spread around the weekend and now everyone went in to request withdrawal and trigger an actual collapse

 

[impressionimage]

I trust local banks

It is not a bank

 

[Optrex]

the name says so liao. chocolate cannot take the heat one. once heated, it will go to melt down mode.. that time wanted to put some monet cos it have higher returns, but luckily read that it's not protected by SDIC. I immediately eliminated the thought


Read HWZ Forum Rules!

 

[lifeisinforashock]

Simi bank name is tis ? Might as well strawberry finance.

 

[FireEmblem]

Simi bank name is tis ? Might as well strawberry finance.

It is not a bank, investment firm.

 

[Hysteri]

the name you think investors will invest? Sounds fishy

 

[Globe]

But got so many influencers endorsed them lei

u think some of them they endorse for the fee or endorse because they know what the **** is going on ?

 

[loveboon]

heng I never use

 

[0218crawford]

wifu got 1K insai. me is 0.

me assure wifu moi don think got problem giving back depositor money cos their investment is in short duration fixed income fund and money market fund. jin liquid and jin stable. just that they need time to liquidate when withdrawal demand is high like now.

 

[charlieangel123]

I thought they keep saying is immediate withdrawal but now need 10 working days?

these online payment ewallet not safe one
shut down app means money gone

 

[artncraft]

If their portfolio can return above the savings rate and there is no fraud, there is no issue. The reverse applies.