RATE Group | South Korea-based crypto wallet announces pending shutdown
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South Korea-based crypto wallet announces pending shutdown

01 Feb South Korea-based crypto wallet announces pending shutdown

Posted at 10:27h in Cryptocurrency News by

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A popular cryptocurrency wallet from South
Korea, BitBerry, recently announced that it will soon close down. The wallet
will continue operating until February 29th, when it will permanently close at 3:00 pm. All support for
the app will be terminated from that point on, so users are advised to use the
remaining time to find an alternative for storing their funds.

BitBerry saw a major rise in popularity due to the fact that it allowed its users to sign in with their Kakao Talk ID. Meanwhile, Kakao Talk itself is one of the most popular messaging apps in the region. Using the service’s ID simplified receiving and sending cryptocurrencies, as users could simply receive payments to their mobile number.

Jang Sung-hoon, the CEO of the wallet’s parent
firm, Root One Soft, stated that the firm decided to shut down its wallet
business due to the market deterioration. The company seems to believe that the
future of the blockchain industry remains uncertain, which was likely a…

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