Exchange Graviex Closes Down

Cryptocurrency exchange Graviex has announced its closure due to a sharp decline in trading activity and financial difficulties. Users are required to complete their trades and withdraw all funds by October 20th.

The exchange launched in 2017 and offered clients the use of its native coin GIO for transactions. This is not the first instance of trouble for cryptocurrency exchanges: recently, Singapore-based exchange BingX was hacked, resulting in losses of $43.2 million.

The closure of Graviex is another example of the instability in the cryptocurrency exchange market. Users need to be vigilant and monitor the status of their funds.