The company blames the suspension of the accounts on the crypto winter and a lack of resources to maintain them. Users have until July 20 to extract their digital assets, or they will get sold.
Users of the Spanish bitcoin and digital assets exchange 2gether are receiving notifications revealing the closure of their individual accounts.
The message says that after five years of supporting the crypto community, 2gether got forced to close the service for private accounts. Some users started a complaint campaign on Twitter to show their anger about the decision.
The argument for this move is that they cannot give the same high-quality services as other relevant entities in the market.
When the entity speaks of crypto winter, they mean the current comprehensive market for digital assets such as bitcoin. This bear market led to a situation that impacted other digital asset service networks, including Coinbase, BlockFi, and Gemini. The most recent company harmed by this situation is the Voyager Digital exchange, which filed for bankruptcy hours ago.
On the other hand, the Spanish entity also revealed that it could not keep carrying out its activities for free. For this reason, users must now assume part of the cost the entity has faced in recent years to maintain the profiles.
In that sense, the Spanish entity highlighted that they would charge at least 20 euros corresponding to said cost to all users from next July 10. This fee will get extracted in digital assets by discounting said amount from the positions in the different digital currencies users have in their profiles.
Those clients who do not have the funds necessary to cover the 20 euros will have to close their accounts, even though the entity highlighted the date for users to comply with what got requested. The entity expressed in the same statement that it has already started the procedures to suspend the said accounts.
Process for Extracting Funds
Among 2gether’s suggestions for their users to receive the funds they have invested, they commented that all staking positions should get closed to get transferred to bitcoin or ether (ETH). Then withdraw it from the exchange application to their bank profiles.
If users have not extracted their digital assets from the exchange by July 20, the company will have to sell the digital assets of customers who do not suspend their accounts. The entity will also do so by including an additional 30 euros.
The remaining balance in euros in favor of the user will get housed in the client’s account of the electronic money provider Pecunpay.
By: Jenson Nuñez
