CryptoBridge Is Shutting Down — Withdraw Your Funds

December 1, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The startup CryptoBridge, which provides a channel for the “decentralized” exchange of cryptocurrency assets on the BitShares platform, announced its closure.

As the reasons for their decision, the developers pointed to market conditions, increased regulation, inability to finance the further development of the product and maintain operational activities.

The possibility of making deposits through CryptoBridge will be closed on the night of December 4, and withdrawal and trading on December 16.

All users should withdraw assets in a timely manner.

“Please note that user verification is required by EU law for all withdrawals. We highly recommend that you start the process as early as possible as verification can take a few days,” the company says.

To communicate with the project, developers recommend using the support system in the wallet, while other channels, including Twitter and Discord, were already closed, which, coupled with the haste of the process and the requirement for verification, could not but cause user irritation.

Note that the forced KYC verification on CryptoBridge was installed on October 1 without any prior notice to users.

Author: Marko Vidrih