Bitcoin Selling at $6500 on a Major Thai Crypto Exchange About to Shut Down

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Bitcoin Selling at $6500 on a Major Thai Crypto Exchange About to Shut Down

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.

Source- Twitter

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.

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Bitcoin Selling at $6500 on a Major Thai Crypto Exchange About to Shut Down
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Bitcoin Selling at $6500 on a Major Thai Crypto Exchange About to Shut Down
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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.
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Author: Supriya Saxena

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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Supriya Saxena 67 Articles

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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