Coindelta – Another Crypto Exchange in India Shuts Down!

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After Zebpay winding up last year, now there’s another one turned prey for Indian Government’s irresponsibility.

It came shocking to the community when everyone heard about the sudden shutdown of one of the top exchanges in India – Coindelta.

Coindelta – Another Crypto Exchange in India Shuts Down!

Coindelta
Coindelta

Around 12 PM on 30th March, the company in its Medium blog post revealed its hard position and concluding the ceasing of operations.

In its announcement, Coindelta said, it would be stopping services at 2 PM (30th March 2019) and informed everyone to process their transactions ASAP, so they would cancel all open orders thereafter.

They broke this news out just a couple of hours past the closure time and the official emails of news were sent in the evening to all.

Though most of the people felt sad about the exchange’s closure, some have erupted with flares because of such short notice period. This leads some traders to fire upon Admins, as they’re expecting at least a week’s notice of such major activity.

As most of the people are holding their cryptos in exchange’s hot wallet, a sudden notice of closure startled everyone, leaving them confused about their holdings.

Wazirx and Bitbns jumped in for rescue.

Soon after the announcement, Wazirx and Bitbns (two other Indian Crypto exchanges) extended their hands for Coindelta traders. Both exchanges asked people to transfer their funds to their exchanges to save themselves.

Announcing in their Medium blog post, Wazirx said, people, migrating their Total crypto funds of at least 25K can claim back their transaction fees if it’s their first deposit.

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Everyone in the community took Twitter to express their anger of this disturbance, as accusing Indian Government, Arun Jaitley and Narendra Modi being irresponsible of their promises.

Indian Govt. has ordered the regulation forming committee to announce the final rules for Crypto in the country by March 25th, but it was later postponed to March 29th as the committee failed to show up. But the judgment on March 29th too was disappointing! As the court has further postponed the final call to the month of July cause of elections!

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