Coinone Global Exchange (CGEX), a Malta-based crypto exchange launched by major South Korean exchange Coinone, will terminate its service in mid-September.

Less than a year in operation

According to an announcement on Aug. 12, the exchange will shut down services at 2:00 a.m. UTC on Sept. 18. CGEX initially launched in October 2018.

CGEX placed a services termination notice on the main page of its website, adding that it has decided that it can no longer maintain service.

CGEX’s services termination notice | Source: CGEX

In the notice, CGEX warned its customers that all assets on user accounts should be withdrawn by the closing date, as further withdrawals will no longer be available after that time. Personal user data, including transaction details, will be destroyed accordingly with the end of service.

Temporary termination in the past

News of CGEX’s termination follows previous notices of temporary termination of trading and transaction services on the platform. On June 17, CGEX first announced that they would temporarily terminate trading and deposit services starting July 17 in order to “prepare for a new paradigm change in cryptocurrency exchanges” and launch a new trading platform. At the time, the exchange said that the new CGEX would be introduced in Q3 2019.