Nasdaq-Powered Cryptocurrency Exchange Closing Down Less Than a Year In

We’ve learned of this via an announcement blog post made via the company this Sunday. This post notes that the shut down is only temporary, however, as the remaining members are looking for some form of acquisition or buyer to continue running.

“We must inform the community that the board of directors of DX.Exchange has decided to temporarily close the exchange as we pursue a merger or outright sell of the company,” reads the post. “The costs of providing the required level of security, support and technology is not economically feasible on our own.”

As of this time, nobody can trade or deposit onto the exchange. That, and all open orders were canceled at 12:00 GMT on Sunday. However, users shouldn’t worry, as funds are fine and will be returned to their respective owners to “allow a merger/sale to proceed.”

To withdraw, the company asks that you email its support team with a copy of your government ID used for the initial signup, the wallet address and amount for each asset you’re withdrawing, a selfie of you and a paper with the date and the words “DX Exchange,” and use the same email you set up the account with. Also, all withdrawals must be requested by November 15.

Most notable about this exchange is that it was the first cryptocurrency trading platform to be built with Nasdaq trading technology in combination with the exchange’s in-house tech, making it a potential powerhouse.

DX.Exchange is joining the list of other cryptocurrency platforms that are going through a rough patch. In the past couple of days alone, the BitMEX Twitter account was hacked and the platform suffered a data dump, alongside the FTX exchange being hit with a $150 million “nuisance suit.”

Images courtesy of Shutterstock.

Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!