[2016-09-14] Romania’s First Bitcoin Exchange Shuts Down, Again

[elyas772]

Romanian bitcoin exchange BTCXchange has shut down operations in the country.

The platform was initially put on sale following an announcement on August 18, 2016, a Facebook post by the exchange revealed.

However, the failure to find a buyer – presumably – saw BTCXchange owner Horea Oradea Vuşcan subsequently send emails to customers on September 4 this month, asking them to withdraw funds from the exchange. Another reminder email followed on September 9, advising users to withdraw all funds from the platform that was eventually shut down on Monday this week.

When Vuşcan put up the website for sale last month, he spoke about the “high responsibility” that comes with managing user’s money in the exchange, specifically after the recent Bitfinex hack. That responsibility got weary, Vuşcan suggested. He also stated that running the exchange was a “highly profitable” business that benefited further from a reduced team running low on costs.


https://www.cryptocoinsnews.com/romanias-first-bitcoin-exchange-shuts/

[snipie]

1 BTC fees then 2 BTC fees in order to get informations and buy the exchange...

he spoke about the “high responsibility” that comes with managing user’s money in the exchange, specifically after the recent Bitfinex hack.

Apparently this isn't the only reason that will make someone close his work especially if it is “highly profitable” as he said, he could use an insurance...etc

[richardsNY]

Finding a buyer wouldn't be a problem if that exchange had the potential to grow further. But that's definitely not the case. Who will catch a falling knife? Right, smart people definitely NOT. I just hope the owner doesn't get desperate and end up selling the exchange to a bunch of scammers like what happened with Mintpal exchange.