Netherlands-based crypto exchange Bitvavo said in a statement that Digital Currency Group’s (DCG) offer to repay 70 percent of its debt was unacceptable because it believes DCG has sufficient funds to repay the entire debt. Bitvavo stated that the situation regarding DCG has no impact on Bitvavo's customers, platform and services. Bitvavo assumes the customer's risk by guaranteeing the outstanding amount. According to previous news from Foresight News, Bitvavo stated on December 17, 2022 that its custody function uses DCG to provide off-chain pledge services for its customers. Because DCG is "encountering liquidity problems" and has "suspended repayment", it cannot be accessed. 280 million euros ($297 million) in crypto assets held by DCG has been frozen.