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Payoneer filed for insolvency

I got a message from Payoneer that they filed for insolvency and there will be a freeze of existing money held in all Payoneer accounts. The message made it seems like new funds can transfer in and out but existing funds will be frozen for an unknown amount of time… but, Payoneer thinks that will be a short time and it will be unfrozen at some point. This is all confusing and shocking. What exactly is happening?

Check out the thread below. People have been chatting about this issue all day. As you can imagine, it’s gotten many sellers worried.

This is amazing. Mind boggling. How would a company like this file for insolvency? It seems impossible.

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