Another crypto exchange to shut down!

Coinome, a cryptocurrency exchange in India will be the latest one to close its door. Coinome, when it was started, it was considered as more reliable and professional in their services. I have used it couple of times and found it good.

Coinome would be closing its operations next week, if you own any cryptocurrency in that exchange then you need to withdraw before May 15th. This is due to the uncertainty on crypto guidelines and regulations in India. Neither government nor the Supreme court has decided anything on the crypto regulations in India.

The official statement in their exchange reads:

All crypto markets on Coinome will be suspended and any pending/open orders will be canceled, effective 2pm on May 15th, 2019. Customers are requested to withdraw all their crypto assets from Coinome at the earliest.

Here is the mail from coinome to its users.

If you are holding any crypto assets in Coinome, move them at the earliest.

With recent Binance Bitcoin hack, no exchange is safe in this world. If you don't own keys, you don't own crypto, as simple as that. Is holding keys enough to say the funds as secure ? May be we will see more sophisticated attacks in future. Until then be wise with your crypto investments as well as crypto storage.

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