National cryptocurrency exchange Coinzo decided to cease operations

Coinzo, the national cryptocurrency exchange, has decided to cancel its exchange services.

The exchange, which was established in November 2018, stopped cryptocurrency trading at 9:00 a.m. on Monday, October 11, according to the announcement shared the other day. It was claimed that the exchange’s website will remain open for 6 months for users to withdraw their Turkish lira and crypto assets, while trading operations are suspended.

Coinzo explained in the announcement:

“Coinzo Teknoloji A.Ş. We have decided to terminate our digital asset service provider (cryptocurrency platform) service. All Turkish lira and cryptocurrency assets owned by our users are safe. During the closing process, our users will be able to transfer their Turkish lira and cryptocurrency balances safely. Our support team will continue to find solutions to our users’ problems during this process. “

Ad found on Coinzo website. Source: Coinzo

The cryptocurrency exchange announced that the commission on Turkish lira withdrawal transactions was also removed. It was announced that the minimum withdrawal limit was determined at 10 cents.

Coinzo announced that the CNZ / TRY parity was closed for trading in order to prevent CNZ holders of the platform’s ERC-20-based tokens from experiencing potential complaints. The exchange added that CNZ tokens will be converted to lira at 1,516 exchange rates and transferred to token holders within 7 business days.

Furthermore, cryptocurrencies below the minimum withdrawal limit will also be converted into lira and will be reflected in users’ account within 7 business days.

The national stock market made the following statement for NEO investors:

“NEO – GAS distributions will be distributed to all our users with NEO balance within 7 business days, including the amount of GAS not distributed due to the NEO N3 update.”

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