Institution-focused crypto lending platform BlockFills announced it halted customer deposits and withdrawals last week as Bitcoin and the broader crypto market continued to tumble.

The suspension, which remains in effect, was intended to protect clients and restore liquidity on the platform, BlockFills said in an X post on Wednesday.

Last week’s market tumble saw Bitcoin fall another 24% from $78,995 to $60,000.

Blockfills said the withdrawal and deposit halt came “in light of recent market and financial conditions.”

“Management has been working hand in hand with investors and clients to bring this issue to a swift resolution and to restore liquidity to the platform,” BlockFills said.

“Clients have been able to continue trading…