The board of directors of the cryptocurrency exchange CoinExchange decided to close the platform.
The exchange said that the shutdown is "solely a business decision" and has nothing to do with any incident like hacking.
This is purely a business decision and there has not been a security breach or any other type of incident. Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.
Acceptance of deposits and trading on the exchange will be stopped on October 15. Users are strongly recommended to withdraw all funds before December 1.
CoinExchange was founded in 2016. The exchange provided access to more than 540 trading pairs.