Yet again, a crypto-based project has bitten the dust. This time, it is Start Exchange, a crypto exchange that up until closure prided itself in providing fast, secure, solid and mobile-friendly trading experience to professionals.

The company gave hints of its closure since January 19 and encouraged users to cancel their order and withdraw their coins before March 1. One tweet on the companies official Twitter handle reads:

Last week to cancel your orders and withdraw your coins from start-ex. Any coins left on 1st March 2019 will be lost as the wallets will be deleted and the website will be taken down.

Reasons such as high costs of operation, low volume of trades on the exchange and coming to a stalemate in negotiations with banks were given for the closure.

As at the time of reporting, it is expected that the exchange’s team would have manually processed all withdrawals and settled their users.

Withdrawals might get stuck, but do not panic, all of the withdrawals will be processed between 24-48 hours (we will have to check and approve them manually).

A visit to the company’s official website has also revealed that the site has gone offline.