Bitmarket.pl goes out of business. The reason? Loss of liquidity.

Last night Bitmarket.pl exchange announced termination of its activity. According to the announcement the reason is loss of liquidity. Yesterday on the Bitmarket.pl exchange website [...] https://www.pinterest.com/pin/1085437947660215829/

Last night Bitmarket.pl exchange announced termination of its activity. According to the announcement, the reason is loss of liquidity. Yesterday the following message could be found on the Bitmarket.pl exchange website: Dear Users, We regret to inform you that due to the loss of liquidity, as of 08.07.2019, Bitmarket.pl/net Service has been forced to cease its activity. We will keep you informed about further steps. As you can see the official reason is the lack of liquidity. Bitmarket.pl - announcement from the owner At the same time IQ Partners issued its announcement: The Board of IQ Partners S.A. (hereinafter: "the Company") informs that on 7 July 2019 it received information from the President of the Board of Directors of Gyptrade OU, based in Tallinn (Estonia), a subsidiary of IQ Partners S.A., regarding the risk of closure in the near future of the cryptocurrency exchange operated under the domain Bitmarket.pl due to the inability of the exchange operator, i.e. the company Kvadratco Services Limited, based in London (United Kingdom), to regulate its obligations. At this stage, the Board of IQ Partners S.A. is not able to verify the probability of this event occurring, but in the opinion of the Board of IQ Partners S.A., should this risk materialize, Gyptrade OU will not be able to carry out the process of taking over the Bitmarket exchange, and will not be able to pursue this project in any way. According to Current Report 27/2018 dated November 8, 2018. IQ Partners S.A. based on the profit generated by Gyptrade OU was to issue Series A subscription warrants. In the situation that has arisen, according to the opinion of the Board of Directors of IQ Partners S.A., this condition will not be fulfilled, and thus it will not affect the financial result or shareholder structure. In order to clarify all the circumstances of the case, IQ Partners S.A., in connection with the information about the potentially bad situation of Kvadratco Services Limited, has filed a notice of a possible offense to the District Prosecutor's Office in Olsztyn. As you can see, after this announcement, the case may be more complicated. The company has already reported it to the Prosecutor's Office in Olsztyn. Bitmarket.pl was one of the oldest cryptocurrency exchanges in Poland. It enjoyed a good reputation among users. It remains to wait for further announcements from the company. If you are looking for a safe place to buy BTC, Kantor Bitcoin, available online at Bitcoin.pl, will allow you to quickly purchase bitcoins, without additional formalities. Bitcoins purchased at Kantor go to the address of your choice so you have 100% control over your funds.   Tags bitmarket.pl cryptocurrency exchanges