The Estonian crypto exchange CoinLoan announced they were immediately suspending all operations, including withdrawals. The action came after CoinLoan was declared insolvent by an Estonian court, which mandated they suspend activities pending permission from the court.Protos speculated that the suspension could be related to Vauld, an exchange that collapsed last July. Vauld is rumored to have tens of millions of assets on CoinLoan.The same day as Vauld’s collapse, CoinLoan implemented a withdrawal limit of $5,000/day.

Total loss estimated at $10,000,000.