Home News Ukrainian crypto exchange Liqui announced its shutdown

Ukrainian crypto exchange Liqui announced its shutdown

Ukraine-based cryptocurrency exchange Liqui announced its closure due to its failure to ensure the sufficient liquidity. In autumn 2018, the platform delisted 25 coins. Users have been facing problems with access to their accounts since autumn 2018, when the platform had delisted 25 coins.

Ukrainian crypto exchange Liqui announced its shutdown and urged users to withdraw their funds within 30 days.
The official notice on the company’s website reads that the platform can no longer maintain the liquidity needed after having renewed the user agreement.

“Recently, we were happy to announce the change in our policies. We gave you the right to decide whether you want to be with us in our Crypto Exchange journey by accepting the changes. Much to our regret, after this step Liqui is no longer able to provide liquidity for the Users left. We also do not see any economic point in providing you with our services. However, we do not want to return to where we were a month ago. Hence, we decided to close all accounts and stop providing our services. It broke our hearts to do that,” – the announcement specifies.

Liqui team guarantees that traders will be able to withdraw their funds within 30 days after the date of announcement (January 28). Should users fail to withdraw delisted tokens, they will be given another 30 days to do so.

According to CoinGecko, Liqui’s daily trading volume dropped from $3.7 million, as of January 1, to $2.5 million, as of January 11. This was followed by a sharp downfall to mere $180 000 on January 12.

This autumn, Liqui delisted 25 digital assets and then tweeted about the user agreement update. The news was followed by a number of users being unable to log in to their accounts. Some also reported on incorrect balances.

Back in October 2018, the Ministry of Economic Development and Trade of Ukraine voiced its intention to legalize cryptocurrencies and related activities by 2021.

Meanwhile, New Zealand-based crypto exchange Cryptopia has been robbed by hackers for two week already. The cybercriminals have already managed to steal more than $16 million worth of cryptocurrency from the platform.