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Tradesatoshi closing down

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Tradesatoshi shutting down.

 

As seen on their twitter page,
https://tradesatoshi.com/ will be terminating all their services on March 1 2020 00:00 UTC.

As they claim, their board of directors has decided that they won’t be able to continue operating further, due to the economic difficulties they are facing in this bull market.

This is highly unusual since bull markets attract more users, which means more money from their high trading and withdraw fees.

Some people would believe they were operating on fractional reserve.

Tradesatoshi urges all its users to withdraw their cryptocurrencies from their exchange until March 1st, 00:00 UTC and tell them not to deposit any funds on the exchange since those funds won’t be credited into their balances.

After given date, no user will be able to withdraw any funds from the platform.

Tradesatoshi was known as a non-respectable exchange, due to their illicit practices of removing coins from their exchange without any notice, rejecting users’ KYC documents without any reason, and not letting users withdraw their coins, because of “Wrong documents”.

Many cases have been reported that users would even get IP banned, so they can’t access their accounts and get an explanation.

This user shows in a screenshot that he’s not able to withdraw his 0.58XX bitcoin from tradesatoshi:

user @Maphalala_T asking them how can he withdraw his $136.85 (at the time of writing this post), while clearly their BTC wallet isn’t allowing him to do so.

The user below says he tried to complete the required KYC 2 months ago, but he had no luck, so he’s not able to withdraw his funds.

If you have any funds on tradesatoshi, please withdraw ASAP.
If you know anyone using the exchange, please inform them so they can take action right away.

The original post from their blog:

Dear users,

We must inform that the board of directors of Tradesatoshi.com has decided to close the exchange.
 

Unfortunately it is no longer economically feasible for us to continue provide the required level of security, support and technology. 
 

Please do not deposit! Deposits will no longer be processed.
 

We highly recommend that those users pending verification start the process as early as possible.
 

Tradesatoshi.com will terminate all services on March 1 2020 00:00 UTC.
 

Kind regards,

Tradesatoshi.com

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