The veteran Ukraine-based cryptocurrency exchange, Liqui, has just announced that it is forced to close down its exchange after recent changes. The exchange decided to alter its policies, and it gave its users the right to determine whether they will stay or leave after the changes were made.
While the exchange does not seem to regret making the changes, their announcement stated that they could no longer provide liquidity for their current user base. Only two courses of action presented themselves at this point — returning to the pre-alteration state or close down shop.
The new announcement published an hour ago, along with mailing to the exchange’s users, suggest that Liqui had opted to stop providing its services. As a result, the exchange will soon close and shutdown:
“We may be back soon. However, that depends on the market which has significantly changed since 2017. We do not know what else to say but say thank you for supporting the cryptocurrency community and your faith in us.”
Users are requested to withdraw their funds
While Liqui sees no other option but to shut down, they will allow users to withdraw their funds in the next 30 days. After this period, the exchange “cannot guarantee that their website will still be maintained.”
If users fail to withdraw funds at this point, they should contact Liqui’s support team. The exchange also mentioned that their terms of service would apply to any account that contains more than zero balance in the wallet; however, certain fees will be applied.
The exchange concluded the announcement by stating that this might not be the end and that they might re-open at some point if the crypto market takes a more beneficial turn.
Liqui: A sweet home for ERC-20 tokens
Liqui exchange, founded in 2016, had more than 200 trading pairs whereas the vast majority of them are ERC-20. During the ICO bubble of 2017, Liqui gained its popularity, before the days of Binance. Some ICOs’ ERC-20 tokens were ended up trading only on Liqui.