Estonia-based crypto platform CoinLoan has halted all user withdrawals and activity.

The company said it received a notice of restraint on disposition that requires it to halt all user operations, including user withdrawals.

The notice in question says that CoinLoan cannot dispose of assets without the consent of a provisional liquidator. It also suggests that bankruptcy proceedings are underway, though CoinLoan itself has not confirmed that it has filed for bankruptcy.

Instead, CoinLoan called the notice “unexpected.” The company said that the changes would take effect immediately and said that it has “no choice but to comply.”