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Crypto exchange CommEX suspends operations from March 25 — platform

In September 2023, Binance announced its withdrawal from Russia and the sale of its Russian business to CommEX

MOSCOW, March 25. /TASS/. The CommEX crypto exchange is to suspend operations from March 25, 2024, and from May 10 the official website will stop working, the trading platform said in a statement on its website.

In September 2023, Binance announced its withdrawal from Russia and the sale of its Russian business to CommEX.

"We regret to inform you that due to strategic adjustments, CommEX platform will begin to suspend part of services starting from March 25, 2024, and will shut down all website access on May 10, 2024," the statement on the platform’s website says.

From March 25, CommEX will close the registration of new users and the transfer of assets from Binance, and will also stop accepting deposits in fiat currencies and cryptocurrencies.

On March 28, the exchange will stop opening positions on Simple Futures and Futures Trading. Users will only be able to close positions and will not be able to open new ones.

On April 2, the site will stop publishing new advertisements on the P2P marketplace. Users will also not be able to create new orders to buy cryptocurrency. On April 5, all P2P orders and advertisements will be closed. On April 18, all trading pairs on simple and classic futures will be automatically closed. Users are advised to close all open positions in advance to avoid automatic closure by the system.

On April 23, CommEX will close the spot market. Users will not be able to place orders and all open orders will be automatically canceled by the system. The conversion function will also be disabled. On May 10, the official website will go down and users will not be able to access CommEX-related content. User accounts on CommEX that maintain assets after May 10, 2024 will be subject to an asset management fee equal to 1% of assets as measured by a snapshot of user balances on the day the platform is discontinued. "We advise users to promptly close positions and withdraw their assets to third-party wallets, paying particular attention to security," the platform said.

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