XDEX Brazilian Cryptocurrency Exchange Announces Closure

Brazilian cryptocurrency exchange XDEX, owned by the largest brokerage company in Latin America XPInvestimentos announced the closure.

According to the management of XDEX, such a difficult decision was made due to disappointing market forecasts, high competition and the slow development of regulation of the cryptocurrency industry.

Within 30 days, users of the exchange mustclose your positions and completely withdraw funds from your balance. When filling out an application for withdrawal, funds will be sent to the client’s bank account indicated on XDEX within one business day. If the user does not sell his crypto assets within a month, the exchange will do it on his own behalf, then within three business days he will transfer the received money to the specified bank account.

XDEX promises to fulfill all contractualobligations to customers according to the terms of XDEX services. Recall that the site was launched in 2018 and operated separately from the traditional brokerage business XP Investimentos, supporting the trading of BTC and ETH.

Italian announced closure last monthAltsbit cryptocurrency exchange, having suffered damage as a result of a hacker attack of about $ 70,000. In addition, the GO.Exchange platform, which was also forced to “leave the battlefield” due to tightened requirements and uncertainties of cryptocurrency regulation, became unavailable for trading.

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