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Bitcoin Exchange Gatecoin Shuts Down Citing Financial Difficulty

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Hong Kong-based bitcoin exchange Gatecoin has said it is shutting down citing financial difficulty. The exchange suffered a $2 million hack in 2016 and hasn’t been able to recover the funds. However, Gatecoin blames a registered French payment service provider for paralyzing its operations. The payments company allegedly duped the exchange out of an unspecified amount of money in unsettled transfers.

Also read: Basel Committee sets out Guidelines for Banks Intending to Enter Crypto Market

Payments Provider Cripples Exchange Operations

“We have suffered financial difficulty over a period time to an extent that we are no longer able to support ...

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