CryptoBridge Decentralized Exchange Shuts Down Citing Regulations, Markets

The localized cryptocurrency change (DEX) CryptoBridge introduced that it’s closing down in a content on its internet site.

In the announcement, the change warns customers that all the agency’s providers and servers will terminate after Dec. 15. Users will be capable to withdraw monetary imagination from the change till the final day of operation, still deposits will likely be closed after Dec. 3. The announcement reads:

“Please note that user confirmation is required by EU law for all withdrawals. We extremely recommend that you start the process as early as possible as confirmation can take a couple of days.”

Scammers are impersonating CryptoBridge

The firm cites market circumstances, more and more strict regulation and lack of monetary imagination as causes for its determination to shut and ne’er pursue additive growth.

Users visiting the official Twitter visibility of the change are met with a “that page doesn’t exist” warning. However, a brand new CryptoBridgeEU account grew to become energetic earlier right this moment and spreads contents in battle with the announcement showing on the official platform’s internet site. The account in query claims that the closure of the platform is just momentary, stating:

“I’m proud to announce CryptoBridge’s termination is not the end! We will be moving our headquarters to Denmark! We will have a new site up and running so stay tuned!”

An replace to the official internet site confirms that the visibility is pretend:

“Our social media channels are closed, all accounts on Twitter that are simulation to be representing CryptoBridge are fake. We are not preparation a comeback at the moment.”

Fierce challengers inside the DEX house

The challengers inside the DEX house is dynamic into more and more fierce. Major crypto change Binance launched one in April whereas its challenger Poloniex acquired a Tron-based DEX on the finish of November.

On Nov. 27, localized liquidity community Bancor introduced a 60,000-token airdrop in an try to broaden its liquidity pool. Low liquidity is a serious challenge going through localized exchanges and preventative their means to vie with centralized exchanges.

CryptoBridge Decentralized Exchange Shuts Down Citing Regulations, Markets

Your Opinion Matters

Quality - 10


Total Score

Your feedback is important to us to improve our services. We constantly seek feedback to improve and evolve our service, whilst identifying opportunities to assist clients in realising their business objectives.

User Rating: 4.86 ( 7 votes)

Show More

Patricia Bakely

Earn Free Bitcoin Online with

Related Articles

Leave a Reply

Back to top button