Subsidiary of LINE, the Japanese firm known for its messaging app BitFrontannounced that it has decided to close.
After the FTX crisis, many companies, including FTX, went bankrupt. At the same time, with the current bear market, crypto companies were going through tough times. The fluctuations in the crypto industry have led companies to make new attacks. Both the crypto exchange Bitfront are shutting down to change their focus.
US-based Crypto Exchange Bitfront Suspends Its Operations
BitFronthas decided to cease its operations due to the current crypto conditions.
According to the statement, new memberships and credit card payments have been stopped as of today. Bitfront customers can withdraw tokens from their accounts until March 31, 2023. After March 31, token draws will end and user information will be deleted.
Bitfront made the following statement regarding the decision to shut down from its website:
Japanese messaging platform LINE The exchange, which first launched in Singapore in 2018 as Bitbox, had previously announced that it would be renamed Bitfront on February 27. It then closed the Singapore-based crypto exchange and relaunched it as a US-based global platform.