Altcoin trading platform Coinexchange.io has reportedly disclosed that it would be ceasing all services because of financial-related issues. 

As announced via a statement on October 1, the company assured that the decision made relied solely on business difficulties, with the absence of any security breach or other types of problems. 

The current trading volume of Coinexchange.io, prior to the shutdown, stood at approximately $700,000, as reported by CoinMarketCap, along with providing facilitation for over 500 altcoins. 

“Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.”

All trading and deposits on Coinexchange.io will be moved to suspension status on October 15, and the firm is strongly notifying its client to refrain from conducting further activities as soon as possible. 

The website and withdrawals will still operate normally until the beginning of December – the deadline for all fund-moving activities. 

Coinexchange.io hinted at a future reappearance if there is any adjustment in the market conditions.