Cointellect Freezes All Withdrawal Methods, Changes Contract Payouts Overnight

Cointellect remains a cloud mining company surround in mystery, complaints from customers and multiple questions regarding their contract payout structure that seem to remain unanswered for the time being. Late last night, their team posted a new update in regards to the freezing of all withdrawals and the immediate change of contract’s earnings to reflect the current Bitcoin price.
All Withdrawal Methods Temporarily Unavailable
In our previous Cointellect articles, we already mentioned that the Paypal withdrawal option has been disabled for a while, and CryptoPay was only available to customers with a specific contract or higher. Needless to say, being stuck with one withdrawal option available to anyone, which is subject to a 20% withdrawal fee on top of that, did not go over well with the crypto community.
To make matters even more dire, Cointellect has temporarily disabled the Dogecoin withdrawal method, as their system is undergoing some major changes. There is no official ETA as to when withdrawals will be enabled once again, or whether we might see additional withdrawal methods added in the near future.

This post was published at Crypto Articles on February 10, 2015.