Coinone Global Exchange (CGEX) – a crypto exchange platform headquartered in the Malta region – will reportedly be shutting down its operations permanently in the middle of September 2019.

As stated via a post on August 12, the platform – which was officially introduced in October last year by the high-profile, South Korea-based exchange Coinone – will closed down all its services at 2:00 a.m. UTC on September 18.

A service termination guidance has been displayed on the front page of CGEX’s official website, with further information disclosing it will be unable to provide its services. 

The guidance specifically notified CGEX clients that all of their assets still stored in their accounts have to be relocated when the closing date arrived, since any attempts at transactional activities will no longer be facilitated from that point onward. Personal user data, including transaction details, will also be terminated.

The official shutdown notice arrived not long after the temporary termination of trading activities on the exchange. On June 17th, CGEX announced that the exchange will cease its support for trading and deposit services, beginning July 17, in an attempt to “prepare for a new paradigm change in cryptocurrency exchanges”, and roll out a new platform. At that time, CGEX disclosed that the new platform will be available for use in the third quarter of 2019.