Yet Another Cryptocurrency Exchange Shuts Down, This Time in Thailand

2019-9-3 14:55

Coinspeaker
Yet Another Cryptocurrency Exchange Shuts Down, This Time in Thailand

One of Thailand’s most popular cryptocurrency exchanges, Bitcoin Co. Ltd has announced this Monday that it will be closing down its cryptocurrency trading department due to desires to focus on other niche markets.

The reasoning behind the shutdown may sound satisfactory for outsiders, but for the traders themselves, it’s quite underwhelming. Several investors have already considered the fact that the exchange was hacked multiple times or that it’s simply run out of liquidity and is facing massive debt in an already declining economy.

But, regardless of what the reason may be, the exchange has warned its customers that they will be closing down the department on the 30th of September and that everybody involved has until November the 1st to withdraw all of their assets. Deposits on the platform will seize on September 6th.

Chaos Ensues

The BX.in.th exchange was already quite popular among Thai investors due to their discounted prices on Bitcoin. At the moment of writing this article, several traders are desperate enough to get rid of their coins for $6,000 a piece while the official price on the exchange is around $9,000. The global price of Bitcoin is about to cross $9,800 according to CoinMarketCap, therefore it’s quite the evidence for the panic.

Several ill-meaning individuals have also taken advantage of the situation where they launched Facebook campaigns to promote themselves as representatives of the exchange and offer assistance to traders by “taking their money for future compensation with Bitcoin”.

Naturally, though, the local SEC is keeping everything under tight control.

Crypto Exchanges in Danger All Over the World

BX.in.th is yet another victim of the declining cryptocurrency market all over the globe. South Korea recently reported that 97% of all crypto exchanges in the country are on the verge of bankruptcy due to declining trading volumes.

It seems that smaller exchanges are starting to falter in their competitiveness with larger exchanges as they start adding benefits such as lower spreads, discounted offers and higher leverage.

The same issue could have caused BX.in.th’s demise even though the exchange mentioned the interest in other fields as the primary reason.

Yet Another Cryptocurrency Exchange Shuts Down, This Time in Thailand

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0034444 (-100%)

cryptocurrency down yet time shuts exchange another

Источник: coinspeaker.com

cryptocurrency down → Результатов: 126


Фото:

French cyber-cops shut down Monero-mining botnet that infected 850,000 computers across 100 countries

Authorities in France say they have shut down a cryptocurrency mining botnet that had infected more than 850,000 computers across 100 countries. France‘s “cybergendarmes” or more formally, the C3N digital crime-fighting center was alerted to the potential fact that a server based in Paris had been distributing a virus called Retadup, BBC reports.

2019-8-29 10:32


Фото:

Despite Patrick Byrne’s Departure, Overstock Continues to Dabble with Cryptocurrency and Blockchain

According to a report published by Yahoo Finance on August 24, 2019, U. S. -based internet retailer Overstock is doubling down on its investment in the cryptocurrency and blockchain space. Interestingly, this development comes just a few days after the Midvale-headquartered firm’s pro-crypto CEO, Patrick Byrne resigned from his position under controversial circumstances.

2019-8-26 13:00


Litecoin Climbs Past $100 After Successful Halving; Will the Surge Continue?

After months of hype and anticipation, Litecoin’s halving event has finally been completed and has coincided closely with an LTC price pump that allowed the cryptocurrency to surge towards $100. Despite this, Litecoin is still down significantly from its year-to-date highs, and its lackluster price performance that has occurred around the time of the halving.

2019-8-6 04:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Binance Expands in Thailand While Losing Grip on Australian Market

Gulf Binance, a joint venture between Gulf Innova and Binance, will start operations in Thailand in Q4 2023. But is the exchange losing grip in other markets? The post Binance Expands in Thailand While Losing Grip on Australian Market appeared first on BeInCrypto.

Thailand Regulators Prepare Stricter Rules For Crypto

Financial regulators in Thailand are about to get tough on crypto. The move follows a tumultuous year in which Asians have suffered major losses. The post Thailand Regulators Prepare Stricter Rules For Crypto appeared first on BeInCrypto.