Exchange Acquired by Binance in Russia Stops Operations!

CommEx, the cryptocurrency exchange that operates Binance’s operations in Russia, has decided to halt its activities.

The cryptocurrency exchange CommEx, which operates Binance’s operations in Russia, announced that it will gradually stop its operations with a sudden decision.

In the official statement made by the exchange, it was stated that they will not accept new user registrations as of March 25 and that fund transfers made through Binance will also be stopped.

In addition, it was emphasized that no new futures positions will be opened as of March 28. It was also stated that any futures positions that are not closed by April 18 will be automatically closed on that date.

Officials warned users to withdraw their cryptocurrency assets by May 10, the closing date of the official website of CommEx. The reason why the exchange has suddenly made such a decision remains unknown.

Binance had announced on its official blog on September 27, 2023 that it would completely withdraw from Russia. The announcement stated that Binance had signed an agreement to sell its business in Russia to the local cryptocurrency exchange CommEx.