Sometimes, its not all about the regulations in the space, let me just say it clear here that most of these exchanges do not have good or sufficient bankroll to sustain themselves and to survive the space because they are not as popular as the rest of the others to succeed in the space or they are likely having internal issues which they do not want to be revealed publicly for their privacy hence they shutting down. I used to patronise their services back then, and I have no idea if I will have anything left with their platform, but all the same, thanks for this update, though.
I agree with you. It is not always true that regulations are the only reason for all exchanges to close. The reality is that many smaller or less popular exchanges do not have sufficient funds, liquidity, or user base to survive in the long term. In some cases, there may be internal management or financial problems that they do not want to disclose.
It is unfortunate but not unexpected for an exchange to close in such a situation. The most important thing is whether users' funds are safe and whether they are given the opportunity to withdraw them in a timely manner. Personally, I think users should use popular and well-liquid exchanges and keep their funds under their own control if necessary to reduce risk. This is probably the safest way to manage your own money.
Most of the exchanges do request their members via email notification to withdraw their assets and funds with them within a specific given time frame, just as probit has done so that they do not have any further issues with their customers, as that would even be worst becase that privacy they actually wanted to maintain would turn into a public event leaving them exposed and the reasons behind their shutting down which they would not want because some of them who wants to open their own exchange or are affiklitaed to some other exchange might get exposed and it would be a big challenge for them so they would prefer doing it in a calm way to avoid having issues that would expose their identity.
