Brazilian crypt currency exchange XDEX has announced its closure

   Brazilian crypt exchange XDEX, owned by the largest brokerage company in Latin America XP Investimentos, has announced its closure.

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

Within 30 days, users of the exchange should close their positions and withdraw funds completely from their balance sheet. When applying for withdrawal, the funds will be sent to the client's bank account specified on XDEX within one business day. If a user does not sell his crypto assets within a month, the Exchange will do it independently on his behalf, then within three business days it will transfer the received funds to the specified bank account.

XDEX promises to fulfill all contractual obligations to its customers according to the terms of XDEX services. It should be reminded that the platform was launched in 2018 and operated separately from the traditional brokerage business XP Investimentos, supporting BTC and ETH trading.

Last month the Italian crypt exchange Altsbit was announced closed, having suffered damage as a result of a hacker attack of about $ 70 000. In addition, the GO.Exchange platform became unavailable for trading in January, which also had to "leave the battlefield" due to stricter requirements and uncertainty in cryptographic regulation.