Why did VCC Exchange stop providing services to Vietnamese users?

After receiving a lot of attention from the Synthetic Teamese crypto community for collaborating and co-organizing a number of crypto and blockchain programs with the Synthetic Team Ministry of Justice, VCC Exchange has now surprised everyone with its decision to cease its activities. With just a few lines of advance notice, this exchange urged users to withdraw their assets before February 14, 2022 to avoid losses without further explanation.

VCC Exchange withdraws from the game

On the morning of January 25, 2022, the VCC EXCHANGE exchange issued a notice to STOP SERVICES, citing changes in internal policies. However, the stock exchange did not ask or answer any further questions about these four words “domestic politics”.

In addition, the exchange requires users to withdraw assets before February 14, 2022 to avoid losses, and VCC Exchange will also officially stop providing services from that date.

“Remember that you can only withdraw assets that exceed our minimum withdrawal limit. If you are having trouble withdrawing your funds, please email support@vcc.exchange immediately for assistance. The VCC team would like to sincerely apologize for any inconvenience and thank users for accompanying us to this point. We look forward to your understanding and will ensure that we are at your side at all times,” said the stock exchange.

If you search Google for the keyword “vcc exchange ended working”, the exchange website will be the first result. However, when you click on this link, a DNS error message appears, preventing users from accessing it.

The content displayed on the outside shows that VCC will stop providing services to Synthetic Teamese users, but it is not clear whether the exchange will stop working globally or not.

Previously, there were many doubts that VCC Exchange is a scam exchange. However, many articles have corrected and said that the floor has a high reputation. For example, unlike other projects in Synthetic Team, the development teams of VCC are well-known industry figures by name and public address. In addition, VCC is invested by large funds such as Signum Capital, Axiom Associates. Signum Capital is the richest royal fund in Singapore and has invested in big projects in Synthetic Team with high profits like Kyber Network, Tomochain.

In addition, VCC also displays company addresses in Singapore and Synthetic Team, showing that the soil is always fully compliant with government regulations. This exchange also took place at major events attended by major funds such as Golden Gate Ventures, Vina Capital, representatives of government agencies, as well as TV news on VTV1, Vnexpress and Cafebiz. There are currently no suspicious or fraudulent incidents related to VCC Exchange.

However, if we dig deeper, we can see that the exchange’s Telegram channel has been empty for quite a while with almost no updates from November 2021 to today. Similarly, the Twitter channel is dedicated to “Garden without a vacant house”.

We will continue to learn and update the situation for you as soon as we have the latest information.

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