CoinTrader, a Canadian bitcoin exchange, has shut down its operations, with no indication of ever resuming them.
“CoinTrader.net has closed its doors effective immediately. Customers with balances will be contacted by email, mail or telephone to settle your account. We sincerely appreciate your business over the years. Questions can be directed to [email protected]”, the website reads.
The Merkle noted that the company’s Twitter account is also no longer available, while the Facebook page still exists and shows it shared a link “Newnote Financial Message from the President” on 05 June, 2015.
Founded in 2013, CoinTrader was acquired by Newnote Financial last year in a deal made for 1.5 million Canadian dollars in cash and stock. The CryptocoinsNews report said that CoinTrader was the second-largest Canadian exchange by volume at the time of the acquisition and the first in the world to be traded publicly on three separate exchanges.
Given such strong statistics, the sudden closure will surely raise many eyebrows. Also, it also suggests that something must have gone terribly wrong forcing it to close its doors. As no information is available on the matter, one can only speculate.
The official website of Newnote Financial was also not available at the time of writing. However, it seems to be temporarily down as the website reads:
“something cool coming soon
The Newnote website will be available soon”
