One of India’s leading exchange Zebpay is going to shut down their services soon. Earlier Zebpay twitted about the news on Twitter and mentioned that exchange will be going to halt from 4 pm today (28 September).
Zebpay Twitted:
We are stopping our exchange. At 4 PM today, we will cancel unexecuted orders & credit your coins to your Zebpay wallet. No new orders will be accepted. The Zebpay wallet will work even after the exchange stops.
Read more: https://t.co/W8ygzPIYz1 pic.twitter.com/tPWCnyu7Yu
— zebpay (@zebpay) September 28, 2018
Zebpay wallet will be live but only trading and service are halted. Support for the wallet system will also be live.
They mentioned “
We are stopping our exchange. At 4 PM today, we will cancel unexecuted orders & credit your coins to your Zebpay wallet. No new orders will be accepted. The Zebpay wallet will work even after the exchange stops. “
All the current order will be cancelled and the money will be sent back to the respective wallet of holders.
Due to the declination of the case by the supreme court about the legalization of Cryptocurrencies within the country turns out to be a non-profitable business for the zebpay team.
Since Indian Cryptoexchanges already stopped dealing with banks already; they only end with the trading platforms. But users seem not to be using their exchange that much, else using bigger exchange like binance. With the declination of users, zebpay can make that profit to even pay to their team and staff hence shutting down the exchange.
Members of the Zebpay should not worry about their funds Since they wallet services are live on the platform and will not be stopping.
