Topps NFT Problems

[todeen]

Got an email. I don't buy NFT, but I find the situation interesting. Here is the text...

Topps NFTs Customers,

You may have seen reports that Wyre, a wallet service provider for our secondary marketplace, may be shutting down or scaling back operations. We have been assessing the situation and, as of today, Wyre released an official statement which can be found here.

In light of this and as a precautionary measure, we are temporarily suspending transactions in the Shop and Marketplace effective immediately. Rest assured that your collection continues to be safe and secure. Should you decide to attempt to withdraw funds from your wallet, please submit a request directly through the platform to be processed by our payment solutions providers.

We are continuing to monitor the situation and will provide updates as they are available. We are working quickly to reopen the Shop and Marketplace as soon as possible and appreciate your patience and understanding as we work through next steps.

If you have any additional questions, please reach out to our customer service team at toppsnfts.com/support and we will be happy to help.

- Topps NFT Team


Here is the update from Wyre referenced in the email....

Dear Wyre Community —

We wanted to provide you with an update regarding the current state of our business.

We have not been immune to the challenges brought by the current macroeconomic climate and the recent events that have shaken the crypto industry. Acting in the best interest of our community is our top priority. We are exploring strategic options to navigate the market environment and deliver on our mission to simplify and revolutionize the global payments ecosystem in a safe and sound manner.

We are modifying our withdrawal policy. While customers will continue to be able to withdraw their funds, at this time, we are limiting withdrawals to no more than 90% of the funds currently in each customer account, subject to current daily limits. This will best position us to serve and maximize value for our customers and stakeholders.

We also wanted to share that we have made important changes to our management structure. Yanni Giannaros transitioned into a new role as Executive Chairman and will continue to provide valuable guidance and support to Wyre. Stephen Cheng has become our interim Chief Executive Officer. Stephen’s skillset as our Chief Risk and Compliance Officer makes him well-suited to lead our company.

We sincerely appreciate the support of and positive sentiments from the incredible Wyre community and the crypto ecosystem at large as we pursue options that will enable Wyre to continue to flourish. Our operations continue and we will share information with the community as it becomes available.

Sincerely,
The Wyre Team

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