The oldest Ukrainian cryptocurrency exchange, Kuna, which has been operating for almost 11 years, is ceasing its commercial activities in all countries. About this reported platform founder Mykhailo Chobanyan in his Telegram channel.
“That’s why it’s time for difficult decisions – Kuna is completely winding down its activities in all countries”, Chobanyan said, stressing that the exchange is winding down its activities, but will not be sold.
The decision to suspend operations was made after the Shevchenkiv Court of Kyiv granted the request of the Economic Security Bureau of Ukraine on January 23, which led to the blocking of the exchange by Ukrainian telecommunications operators. Chobanyan said that users will have two months to withdraw their assets. He also reminded of the importance of using cold wallets to store cryptocurrencies.
“Don’t store money on centralized services, including Kuna. As long as it’s there, it’s not your money. Satoshi Nakamoto gave us a tool – cold multisig wallets, so use them” – he noted.
As a pioneer of the cryptocurrency market in Ukraine, Chobanyan explained that he decided to leave the business to focus on new projects, in particular the concept of Symbiocracy, an initiative related to the IT industry and software development.
“As strange as it may sound, business is very distracting and, most importantly, does not allow me to enter this new world order in a neutral status.” he said.
Chobanyan added that the code of the Kuna platform, which does not contain client data, will remain in other projects, but with new participants.
