The CommEX exchange, which succeeded the Binance crypto exchange for users from Russia, has announced its closure. The press release emphasizes that registration of new users on the platform will be canceled from March 25.
We are informing you that due to strategic changes, the CommEX platform is suspending some services from March 25 and will close all access to the website on May 10
It is specified that from March 25, CommEX will not accept deposits in fiat and cryptocurrency, and from March 28, it will not be able to open positions on Simple Futures and Futures Trading.
New ads on the P2P marketplace will stop being published on April 2. From April 5, CommEX employees will begin closing all P2P orders and ads. Between April 18 and 23, trading pairs on futures and the spot market will close.
Russians were advised to withdraw assets
Users were advised to withdraw assets to third-party wallets. If funds remain in the accounts after May 10, they will be subject to an asset management fee of 1% of the balance.
In September 2023, Binance, which had been operating in Russia since 2017, sold the business to CommEX. The company made this decision due to Western sanctions. CommEX (registered in the Seychelles) announced its launch on September 26.
Earlier, the Central Bank revoked the license of QIWI Bank. The company blocked the withdrawal of funds from its wallets. This affected the operation of СommEX — the crypto exchange was unable to withdraw rubles through the fiat channel due to its connection with QIWI Bank.
The Deposit Insurance Agency stated that electronic wallet holders are creditors of the third очереди. They were promised to pay funds.