The exchange of Bitcoin Cointrader, based in Vancouver, Canada announced the abrupt cessation of its operations, leaving its users quite concerned about the fate of funds deposited on its website based on exchange cryptocurrencies and fiat money.

This Canadian company in addition to its exchange Bitcoin also has ATMs within and outside the country, in cities such as Calgary, Toronto, Ottawa, Montreal and London, Singapore and Tokyo.

If we visit the Cointrader website we will see the following text:

“CoinTrader.net has closed with immediate effect. Customers with balances will be contacted by e-mail, mail or telephone to settle your account.

We sincerely appreciate your trade in recent years. Questions can be directed to contact@cointrader.net

Cointrader.net “

A quick search on the social networks of the company shows that your account Twitter (https://twitter.com/cointraderx) has been closed, while the fanpage on Facebook is still in line, no activity since June 5, 2015 and with just over 2,000 people following in their footsteps in it.

Post unconfirmed sent to registered users trading in that house and shared the social network Reddit claim the following:

“Cointrader Dear Customer,

A recent internal audit revealed a deficiency of Bitcoin in our wallets, causing delays in withdrawals. This issue is being investigated and it is our intention to have the balance of your account back as soon as possible. We sincerely apologize for this unfortunate inconvenience and keep you informed on the progress of this problem. Meanwhile, we have detained deposits, withdrawals and trading activity until this matter has been resolved.

Sincerely,

Cointrader.net support.”

The closure comes after months of negotiations with low volume on its website, according to data published by the information provider on the market Bitcoin Charts, the data show the trading of cryptocurrencies in the last 6 months had been only 81.43 BTC, which is roughly equivalent to $ 33,700 in trading volume.

Note that this is not the first incident of this Canadian exchange faces, because in early 2014, the Bank of Montreal (French: Banque de Montréal), the fourth largest bank in Canada closed all corporate accounts Cointrader without arguments or formal reasoning, all this then have active operations with the entity about a year.

At that time, the movement was attributed to a restrictive policy towards business digital currency by the government of Canada. Since then, the bank has been said to support the work of the blockchain financial applications through R3CEV-led banking consortium.

Recall also that Cointrader was acquired in March 2015 by the pioneering firm in products and services associated with criptomonedas & bitcoin in the same country Newnote Financial Corp, the agreement was established in cash and stock for a total of 1.5 million Canadian dollars .

At the time he reached the top, CoinTrader was the second exchange of bitcoin in volume in Canada and the first in the world listed on several exchanges around the world, from the hand of Newnote Financial Corp.

In addition to the unexpected announcement of closure by CoinTrader, website Newnote Financial Corp is also somewhat dry, with a message that says: “. Something cool coming soon Newnote The website will be available soon.” Panorama is not encouraging users affected by said closure and the uncertain fate of their funds. Cointrader nor its parent company, Newnote Financial Corp did not respond to requests for comments or mails sent to a more formal explanation.

Sources: coindesk, Cryptocoinsnews y biv.com

Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and / or services. This press release is for informational purposes information does not constitute investment advice or an offer to invest.