Dutch Crypto Exchange Blockport Shuts Down, Vows to Return

Blockport, a cryptocurrency exchange based in the Netherlands, has been been forced to close due to lack of operating capital, but it's vowed to return.

According to a filing reported by The Next Web, the official operating entity, Blockport BV, was declared bankrupt in a court in Amsterdam on May 21. The platform ceased services at the end of May, as announced in a blog post (although the website is still online as of writing).

In the post, co-founder and chief product officer Sebastiaan Lichter said that following the exchange's failed security token offering – which had a €1 million ($1.12 million) soft cap – "we have decided to drastically scale down our operations and development."

Lichter wrote:

As the exchange currently cannot generate sufficient revenues, he said the focus is now on "expanding the platform with unique and value-adding technological features, that strengthen our business case for a potential future restart."

While the operating entity is now bankrupt, Lichter said this would not affect its efforts to prepare for a "restart" of the platform.

He continued:

Customers were given prior warning to withdraw any remaining funds, and according to the post, can still withdraw by emailing support.

Amsterdam image via Shutterstock