Bitwala Cards Canceled With Zero Days Notice, Users Left With Locked Funds

In what seems to be the be the beginning of a "crypto versus plastic war", Bitwala, a major Bitcoin prepaid debit card operator, sent a strange email to their clients, stating that theirVISA debit cards are cancelled immediately.

Yesterday our Bitwala Card issuer WaveCrest Holdings Ltd received direction from Visa Europe to immediately suspend all Bitwala cards effective immediately. Unfortunately, neither Visa nor WaveCrest were able to provide us or you with more time to prepare for this announcement.

There are no other details for now, but I find it strange that the funds recovering email - which Bitwala accepts to be sent - has to be directed to WaveCrest Holdings, on behalf of Bitwala.

A quick search on Twitter revealed that other card providers are in the same situation:

The whole situation seems to be an issue between Visa and WaveCrest Holdings but it's not yer clear what exactly is the issue.

This sudden cancellation will most likely send cold waves through the entire crypto world.

I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me Hive account@dragosroua.

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