Per a recent announcement, Bitcoin Co. Ltd. (BX.in.th), one of Thailand’s largest cryptocurrency exchanges is ceasing all operations later this month. Purportedly, the exchange wants to explore other business opportunities. No specific reason has been provided by the exchange for its abrupt move. Furthermore, the exchange will not be seeking to get a Digital Asset Exchange license from Thailand’s securities regulator, the Securities and Exchange Commission (SEC), for the next year.
Bank’s Managing Director, David Barnes thanked the customers for placing their trust in the bank and said,
“We thank our loyal customers for using our BX.in.th services over the past 5 years […] Please note that all fund[s] are completely safe and all customers will receive 100% of their funds returned to them,”
The announcement further details that BX.in.th will disable all deposits after Sept. 6 and stop trading services after Sept. 30. Thus, the customers are required to withdraw funds held with the exchange before November 1. After the 1st of November 2019, the exchange will continue to open the BX.in.th website only as grievance redressal medium for customers. Also, deposits will be disabled after September 6th, 2019.
SEC Warns Bitcoin.CO Customers Against Fake Facebook Page
In another update, SEC has warned users of a fake Facebook page which claims to represent Bitcoin.Co and is allegedly providing Digital Asset Transaction services. Further, the customers should contact the exchange only through their site. SEC has asked the police to probe and investigate the case of the fake Facebook account.
Discounted Bitcoin Prices
A twitter user, Jon Russell tweeted that the Bitcoin was available at an astonishing price of $6,500, while the present price is $9,760.
Another Exchange Follows Same Suit
In another news reported by Coingape, Tech Bureau, the original operator of Zaif, a cryptocurrency exchange recently decided to shut down its business, once it completes the refund for all customers. Tech bureau operated Zaif, till November 2018. However, as per new reports, the business will be handed over to FISCO. The latter is accepting refunds from the 2nd of September to the 30th of November for customers who have not transferred their accounts to FISCO.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.