Japanese Crypto Exchange Bitfront To Close

Bitfront, the crypto exchange owned by Japanese social giant LINE, announced it would close.

Currently, Bitfront has suspended new signups and credit card payments, and deposit and interest payments of the interest products will be suspended on December 12.

Interest for deposits made from December 5, 2022, to December 11, 2022, will be paid on December 13, and the forced withdrawals of all deposits and interest of LN/LN interest products will be made.

Crypto and USD deposits, trade, and cancellation of open orders will be suspended on December 30. Users can withdraw assets until 13:00 UTC on March 31, 2023.

The crypto exchange first debuted as Bitbox in Singapore in 2018 before renaming as Bitfront when it expanded to the United States in 2020.

Bitfront is run by LINE Corporation, a Tokyo-based internet firm, and its blockchain subsidiary, LVC Corporation.

LINE is a subsidiary of Z Holdings, which is owned by SoftBank and Naver, a South Korean internet company.

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