Categories: CryptoNews

Canadian Bitcoin Exchange Cointrader Is No More

It appears as if Canadian Bitcoin exchange CoinTrader has been taken offline all of a sudden, and there does not seem to be an indication regarding the platform ever returning. Although Cointrader was acquired about a year ago by Newnote Financial Corporation, not much news had come out ever since. Customers with an outstanding balance will be contacted over the next few weeks to settle everything.

Also read: Coinkite Announces Opendime Disposable Bitcoin Wallet

What Is Going On With Cointrader?

Although information regarding the Cointrader issues remains scarce for the time being, it looks like something major has happened to the exchange platform. The message on their homepage leaves nothing to the imagination, as the exchange has closed its doors effectively immediately, and no previous warning has been issued to users or on social media.

Speaking of social media, Cointrader used to have a Twitter account, which is no longer available. It looks like somebody is trying to erase all traces of this exchange ever existing at all. Oddly enough, their Facebook page is still available, although no news updates have been posted there since June of 2015.

The message on the Cointrader homepage reads as follows:

“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 contact@cointrader.net

Related Post

It is positive to see the company acknowledging they will return user balances to their rightful owners, although the lack of further details is a bit worrying. Rather than forcing users to contact the exchange themselves, support staff will be taking care of getting in touch with everyone. No official timeline has been given as to how long this process will take in total, though.

Keeping in mind how this Bitcoin exchange was acquired by Newnote Financial Corp in 2015, things were looking up for Cointrader back then. Posting such a sudden warning about the platform shutting down, and removing their Twitter account, seems to indicate something went on behind the scenes.

We contacted Cointrader for a response.

Source: Cointrader

Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Lethal Bearish Attack Heavily Dumps WIF & SHIB Prices; DTX Exchange Accumulation Soars

The crypto market is typical of sudden changes in fortune and price drops. That has…

12 mins ago

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

12 hours ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

12 hours ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

13 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

13 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

17 hours ago