It is in a press release that the Bitfront team officially announces, not without regret, the closure of the exchange. This decision has nothing to do with recent market disruptions, the staff said.
Ensure the development of Line
Bitfront is a US-based crypto exchange, owned by Line, the Japanese messaging giant. In a press release published Monday, November 28, the platform announces its permanent closure, from the publication of the notice according to the information published. The staff pointed out that this decision is totally unrelated to the current market disruption caused by the collapse of “certain exchanges that have been accused of misconduct”.
The exchange claims to have made every effort to deal with the many challenges in the crypto industry and this persistent bear market. But the team had to face the facts, it is forced to close the platform. A necessary decision according to Bitfront for “continue to develop the Line blockchain ecosystem and the LINK token economy”. Bitfront has always made it its goal to help users store and protect their assets. The exchange remains true to this course of action in its closing process.
Bitfront Shutdown: Withdrawals Available Until End of March
The closing process was initiated as soon as the press release was published. The announcement seems sudden. But in reality, the team of bitfront has already prepared a well-crafted schedule in advance to allow users to leave the platform smoothly. The exchange has already stopped new signups and credit card payments. Starting in December, the company will suspend all transactions, crypto and US dollar deposits in addition to canceling all open orders.
Users will have until March 31, 2023 to make withdrawals. Beyond that, the machine will be permanently stopped. The personal data users will be deleted 40 days after this date. The exchange is committed to respecting the customer’s right to their personal information even after termination of the service.
Bitfront adds to the list of many crypto companies forced to cease operations during this endless crypto winter. But unlike other exchanges, the platform gives its users time to make their withdrawal.
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