Gatecoin crypto exchange shuts down on court orders

posted 7 days ago
Hong Kong-based cryptocurrency exchange Gatecoin will shut down and enter liquidation after an unsuccessful attempt to recover funds lost in a dispute with its former payment services provider, coupled with the fact that the exchange was hacked for 250 BTC in 2016.

The suspension of the service occurred after months of battling to stay afloat, and ultimately, a court order to cease operations immediately. The company blamed its prior payment service provider for this situation. The exchange said it began having issues with banking services in September 2018, after the sudden freeze of its bank accounts in Hong Kong.
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