Bitcoin Co Exchange Abruptly Announces Closure After Five Years Running

Neil Dennis

Thailand-based cryptocurrency exchange Bitcoin Co announced on Monday it was shutting down after five years in operation.

The company behind the online exchange said in a notice on the front page of its website that it had decided to "discontinue offering digital exchange services and wallet services". All deposits are to be disabled by Friday, September 6, and after September 30 all trading on the exchange will be stopped.

Customers have been asked to withdraw any funds or assets held at the exchange by November 1.

Calm Withdrawal

There was no suggestion of financial problems or hackers making off with stolen funds - among the most common causes for such closedowns - the company simply said it was making the move to "focus on other business opportunities". 

In what appears to be an orderly dissolution of its exchange services, the company added:

We thank our loyal customers for using our services over the past 5 years and trust you have been happy with the service provided. Please note that all funds are completely safe and all customers will receive 100% of their funds returned to them.