According to ChainCatcher, crypto KOL Autism Capital tweeted that some users reported that they were unable to log into their accounts on the crypto exchange Gemini. The announcement showed that Gemini is investigating potential service disruptions and all customer accounts and funds are safe.
Autism Capital added that the situation may be caused by the fact that after the announcement of the suspension of redemption of its financial product Gemini Earn, a large number of users concentrated on logging into the Gemini platform to check or withdraw their personal assets, causing the server to be overloaded.
As previously reported, Gemini said that it has noticed that Genesis Global Capital, the lending partner of the Earn program, has suspended withdrawals and will not be able to meet customer redemption requests within the 5 business days specified in the service level agreement (SLA). This will not affect any other Gemini products and services. Gemini is working with the Genesis team to help customers redeem funds from the Earn program as soon as possible. Gemini is a full-reserve exchange and custodian. All customer funds on the Gemini exchange are held 1:1 and can be withdrawn at any time. (Source link)