Romania’s First Bitcoin Exchange Shuts Down, Again

Romania’s First Bitcoin Exchange Shuts Down, Again

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BTCXchange, Romania’s first order book exchange has closed operations, nearly a month after the platform was put up for sale on August 18, 2016.

Romanian bitcoin exchange BTCXchange has shut down operations in the country.

The platform was initially put on sale following an announcement on August 18, 2016, a Facebook post by the exchange revealed.

However, the failure to find a buyer – presumably – saw BTCXchange owner Horea Oradea Vuşcan subsequently send emails to customers on September 4 this month, asking them to withdraw funds from the exchange. Another reminder email followed on September 9, advising users to withdraw all funds from the platform that was eventually shut down on Monday this week.

When Vuşcan put up the website for sale last month, he spoke about the “high responsibility” that comes with managing user’s money in the exchange, specifically after the recent Bitfinex hack. That responsibility got weary, Vuşcan suggested. He also stated that running the exchange was a “highly profitable” business that benefited further from a reduced team running low on costs.

The Selling Pitch

Vuşcan’s Read more ... source: TheBitcoinNews

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