The Txbit journey ends here. Txbit will be closing down on September 14th, 2023.

Txbit Exchange
2 min readAug 14, 2023

It has been a difficult decision, and with heavy hearts and tears, we announce the closure of Txbit’s services on September 14th, 2023. We understand that this news comes as a huge shock.

Why is Txbit closing down?

Due to adverse market shifts, including tightening regulations and ambiguity about the legal status of cryptocurrencies in various countries, we are ceasing all activities.

In an environment where compliance costs are rising, and our product margins constantly face pressure, continuing as before has become untenable for us. We began our journey with a distinct vision, but regrettably, the current environment prevents us from continuing.

Regrettably, this marks the end of the Txbit journey.

On August 14, 2023, we will be offline for approximately one hour. During this time, we will cancel all open orders. Simultaneously, we are closing down the trading feature. We will return online once this process is complete, and withdrawal services will be reinstated.

When is Txbit closing down?

The website will stay accessible until 12:00 PM UTC on September 14th.

We kindly ask all our customers to withdraw their funds before 12:00 PM UTC on September 14th, 2023. We recommend completing this process as soon as possible. Any funds left after September 14th, 2023, will not be retrievable.

Can I withdraw my funds?

YES! You can withdraw funds until 12:00 PM UTC on September 14th, 2023.

We expect many users will withdraw their funds in the first couple of days, so there may be a small queue before your withdrawal will proceed. This may also apply to the KYC process and the handling of support tickets. We do our best to process everything as quickly as possible.

What will happen to Txbit Token?

The remaining non-circulated supply of Txbit tokens will be burned in the coming days. A total of 1,510,406,151.2992582 Txbit tokens (=95.6559% of the total supply) will be burned. Txbit token will still be available for trading on Pancakeswap in the future.

What will happen to wrapped tokens?

For some coins, we have deployed wrapped token contracts. We will contact the developers of those projects to handle the transfer of the wrapped tokens and the contracts.

Our apologies

We sincerely apologize for any inconvenience this shutdown may cause, and thank you for your understanding and support throughout this journey. We wish all the projects the best and hope they will succeed in their journey.

Social Media

Telegram — https://t.me/txbit
Twitter — https://twitter.com/txbit_io
Medium — https://txbit.medium.com/
Discord — https://discord.com/invite/q3h3p4U
Instagram — https://www.instagram.com/txbit_io/

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