Singaporean-based crypto exchange announces its closure Cryptocurrency Bitcoin BITFRONT LINE
Launched in February 2020, BITFRONT is LINE's global cryptocurrency exchange that trades major cryptocurrencies Bitcoin and Ethereum as well as LINE's blockchain mainnet token, LINK, in USD fiat markets. BITFRONT was formerly known as BITBOX.
Until the announcement, BITFRONT was operated by LVC USA Inc., a subsidiary of LINE Corporation, one of the largest social media platform in East Asia. In the website notice, BITFRONT highlights the sequence of events before its permanent closure. It states that withdrawals will be enabled until March 31, 2023, at 5:00 a.m.. It urges users to withdraw all assets by this deadline.
Ahead of this date, the suspension and cancelation of new sign-ups, credit card payments, crypto and USD deposits, trade, Open API Service and open orders will be done sequentially from the time of the notice until Dec. 30, 2022. After March 31, 2023, the deadline will elapse for withdrawal of assets, and U.S. customers will be able to claim their assets in each of their states, while global customers could do so in the state of Delaware.
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