CryptoBridge shutdown

[Bttzed03]

Reposting here kung sakaling may mga pondo kayo doon.

Nope, they're not hacked and their CEO didn't run

After Coinexchange shutdown a few months ago, CryptoBridge has recently announced that they will be shutting down in two weeks. According to their announcement, market conditions, increasing regulation, inability to fund further development and maintain operations as the reasons for closing.

For those who still have funds there, you have until December 15 (23:59 GMT) to withdraw your funds and you will also need to provide KYC.

I never used the exchange but I can assume that they were unable to attract new users and new listings due to bad service or higher listing fees. They do plan on launching again though according to this tweet but I still doubt that. An exchange relaunching after they claimed to have no funds doesn't make sense at all.

Update: Wala silang plano mag-launch ulit. Peke yung twitter account na unang nagsabi nun.

[crairezx20]

Pangit balita yan kung ganon dahil may mga coins ako na nasa wallet naka lista lang sa exchange na yan at mukang hindi ko na mapapalitan in the future.
Pero ganon pa man maganda balita parin yan at baka i exchange ko na ang mga yun kahit mababa ang presyo bago pa mawala ang website nila.

Ano naman daw ang dahilan bakit nila gustong isara na lang ang exchange nila? Possible kaya dahil sa KYC na pinupush ng mga gobyerno?

[harizen]

Pangit balita yan kung ganon dahil may mga coins ako na nasa wallet naka lista lang sa exchange na yan at mukang hindi ko na mapapalitan in the future.
Pero ganon pa man maganda balita parin yan at baka i exchange ko na ang mga yun kahit mababa ang presyo bago pa mawala ang website nila.

Ano naman daw ang dahilan bakit nila gustong isara na lang ang exchange nila? Possible kaya dahil sa KYC na pinupush ng mga gobyerno?

If wala ka pang account sa kanila, malabo mo na ma-trade yan bro sa platform nila dahil a) creating an account is not possible now and; b) as of I'm posting this, it's just 3 hours to go before they will suspend deposits.

And even ok ang deposits baka hassle pa ang KYC dyan. Clearly stated na di makakapagwithdraw hangga't di nakakapag-comply sa KYC. Although sinabi nilang mag-fofocus na sila sa support para mas mabilis, parang masyadong clutch time na and baka ang ending, stuck ang coins. Although di ka na darating sa part na yan kasi nga sarado na ang registration

....An exchange relaunching after they claimed to have no funds doesn't make sense at all.

Parang iyong ginawa ng Cryptopia. Nag-relaunch eh after nung exchange hack. Ang ending nagsara rin. Pero good thing, nakapagwithdraw iyong ibang users pero limited lang sa BTC and ETH if I'm not mistaken.

[Bttzed03]

~
Ano naman daw ang dahilan bakit nila gustong isara na lang ang exchange nila? Possible kaya dahil sa KYC na pinupush ng mga gobyerno?

Naka-underline sa original post yung opisyal na dahilan ng pagsasara nila.

Pero marami nga ang nawalan ng gana sa kanila dahil sa biglaan nilang pag-enforce ng KYC sa lahat ng users. May nagsasabi din na kahit nakapag-comply na sa KYC, hindi pa din sila maka-withdraw which suggests na konti na lang pera ng CB noon pa. Either insolvent sila or may pera pero ayaw na talaga nilang bayaran mga users para sa exit scam.

....An exchange relaunching after they claimed to have no funds doesn't make sense at all.

Parang iyong ginawa ng Cryptopia. Nag-relaunch eh after nung exchange hack. Ang ending nagsara rin. Pero good thing, nakapagwithdraw iyong ibang users pero limited lang sa BTC and ETH if I'm not mistaken.

Update lang dito. Wala silang plano mag-launch ulit. Peke yung twitter account na unang nagsabi nun.

[ecnalubma]

Reposting here kung sakaling may mga pondo kayo doon.

Nope, they're not hacked and their CEO didn't run

After Coinexchange shutdown a few months ago, CryptoBridge has recently announced that they will be shutting down in two weeks. According to their announcement, market conditions, increasing regulation, inability to fund further development and maintain operations as the reasons for closing.

For those who still have funds there, you have until December 15 (23:59 GMT) to withdraw your funds and you will also need to provide KYC.

I never used the exchange but I can assume that they were unable to attract new users and new listings due to bad service or higher listing fees. They do plan on launching again though according to this tweet but I still doubt that. An exchange relaunching after they claimed to have no funds doesn't make sense at all.

Update: Wala silang plano mag-launch ulit. Peke yung twitter account na unang nagsabi nun.

Hindi nakakapagtaka na unti unti may mga nagsasara na mga kompanya sa season na ito, isang dahilan ang napakahabang bear market. Yung ibang crypto related companies nagbawas narin ng mga empliyado due to hindi na kayang sustintuhan ang expenses ng kompanya or sadyang may priorities lang sila na paglalaanan ng pundo.

[Vaculin]

Kaya it's better to trade only on trusted exchange and exchange with good liquidity at the same time as usually they are the ones who will survive regardless of the market condition.

just like the top exchanges, for example, binance, they are still stable and the number 1 exchange now IMO, they are compliant as well so they will sure do everything to protect their asset and avoid a shut down.

[bL4nkcode]

This is a right thing to do
.
Tsaka, dahil sa kulang ng marketing, exposure and team na mga competent kaya ms mabuting mag close talaga.
This will not affect the market at ara makaiwas din sa mga exchange na ganito.

[KawBet]

halos lahat ng traders nasa bitmex na, yan lang napansin ko. maganda kasi offer sa leverage