Romanian Bitcoin Exchange Shuts Down

Romanian bitcoin exchange BTCXchange has officially closed down.

AccessTimeIconSep 14, 2016 at 10:51 a.m. UTC
Updated Sep 11, 2021 at 12:29 p.m. UTC

Romania's first order-book exchange is closing down.

Statements on the BTCXchange website informed users of a possible sale of the service on 18th August, and on 4th September, users were asked to withdraw funds ahead of an expected 12th September shut down.

According to Romanian news source Bihon, it remains unclear whether the exchange, the first of its kind in Romania, is still for sale. Owners originally said they would accept offers on the platform through 16th September.

In past statements, owner Horea Vuscan expressed his hope the exchange would be acquired as he said it was "highly profitable", though he expressed reservations about continuing in the face of the Bitfinex hack and continued worries about the security of bitcoin exchanges.

Vuscan wrote:

"I believe that Romania needs a local exchange but I want to retire in this area of business. In conclusion, in respect of clients and community BTCXchange announce that is for sale."

The decision marks the second time the bitcoin exchange has shut its doors, following a service stoppage in late 2014. However, it's unlikely many customers will be affected by the decision.

Data shows trading volumes on the exchange were low prior to its closure, with the exchange seeing just 19,000 RON (roughly $48,000) in trades over the last seven days.

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