RATE Group | South Korea’s Zeniex Exchange to Shut Down After Less Than 6 Months
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South Korea’s Zeniex Exchange to Shut Down After Less Than 6 Months

19 Nov South Korea’s Zeniex Exchange to Shut Down After Less Than 6 Months

Posted at 09:23h in Cryptocurrency News by

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Korea Cryptocurrency



Barely five months after Zeniex was launched, the South Korean cryptocurrency exchange is closing shop.

The exchange, which was unveiled in May, has disclosed that it will cease all operations on November 23. Zeniex blamed the development on the problems facing its ZXG token.

“… with recent issues regarding ZXG, we have gone through great deliberation both internally and externally,” read a statement from the exchange. “As a result, we have come to the conclusion that continuing to operate such service will be difficult.”

Withdraw or Lose

Already, trading in the ZXG token was ended on November 9. Holders of the token will now have to accept compensation in Ethereum starting on November 12, according to a second notice released by Zeniex. For all other cryptocurrency assets, users have been urged to withdraw them prior to the termination of the service.

Zeniex, which is a joint undertaking of Chinese and South Korean entities, had also…

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