The reasons for the closure remain obscure, but there are suspicions that thin volumes on the exchange were a factor. The registration feature on the website has also been disabled.

Crypto company Helicarrier has discontinued its cryptocurrency exchange for professional traders, Buycoins Pro. The company has also advised users to withdraw their assets within the next three months. This comes over a year after the company sold its retail trading app Buycoin Basic to crypto saving app Accrue for a stake in the latter.

Key quote

“Regrettably, we must inform you that Buycoins Pro will be sunsetted in the coming days,” a statement on the trading service’s website reads. “As part of this process, we kindly request your attention to the following important information.”

The details

According to reports, the company announced the closure to its users late last year. It added that users can trade using the Buycoins over-the-counter service. The reasons for the closure are unknown, and the company did not respond to Mariblock’s request for comments.

However, interactions on the exchange’s official Telegram group suggest that the company might have struggled to ramp up sufficient trading activity.

In a discussion between the group’s admin and Buycoins Pro users on April 18, 2023, customers complained that the exchange does not have enough trading volume to fill their orders.