BITFRONT, the cryptocurrency exchange founded by LINE one of the largest social media in Asia announced its closure.
As of March 31, 2023, the withdrawal of cryptocurrencies held on the platform will be halted, and all personal user information collected by the firm will be deleted within 40 days.
In a notice published on Nov. 28, the BITFRONT team explained that despite efforts to “overcome the challenges in this rapidly-evolving industry,” the firm has decided to shut down BITFRONT.
The firm noted that the decision was “made for the best interest of the LINE blockchain ecosystem” and was not related to recent issues regarding “certain exchanges that have been accused of misconduct.”
As of Nov. 28 at 05:00 UTC, BITFRONT suspended all new signups and credit card payments.
