Cryptocurrencies fell Friday after Japan-based digital exchange Coincheck suspended client deposits and withdrawals for virtual currencies except bitcoin.
NEM, the 10th biggest cryptocurrency by market capitalisation, plunged more than 16% in the past 24 hours, according to CoinMarketCap.com. Bitcoin was down 4.75% to $10,748.20, ripple slid nearly 9% and ethereum was 2.35% lower.
“We have suspended the deposit, withdrawal, buying and selling of NEM. We’re sorry for causing you great inconvenience and making you worry,” Coincheck said in a series of tweets announcing it had suspended trading for all cryptocurrencies apart from bitcoin.
“Currently we’re suspending the buying and selling of altcoin (alternative currencies) except for BTC (bitcoin). We’re sorry to cause you great inconvenience. Thank you for your understanding,” it said in another tweet.
