Canadian Bitcoin Exchange CoinTrader Ceases Operations

Canadian bitcoin exchange CoinTrader has ceased operations, and there are no signs that the exchange will resume operations in the near future.

CoinTrader is a Canadian Bitcoin exchange. In addition to providing Bitcoin trading, the exchange has also installed BTMs and ATMs in London and Japan . With the closure of CoinTrader , the affiliated sales system CoinZero also followed suit .

Note: Bitcoin ATM is an automated teller machine for Bitcoin exchange and trading.

Bitcoin BTM, two-way Bitcoin ATM.

The CoinTrader portal homepage has only a simple paragraph:

CoinTrader.net has been shut down. User balances will be returned to your account via email, mail, and phone. Sincerely thank you for your support of our business over the years. If you have any questions, please contact us directly at [email protected] .

A quick search of CoinTrader’s social media accounts shows that its official Twitter account has been offline for a long time, with the last update being in November 2015.

CCN reported that CoinTrader was publicly acquired by Newnote Financial for $1.5 million in March 2015 .

Note: Newnote Financial is a company dedicated to developing innovative cryptocurrency and Bitcoin-related software.

At the time, CoinTrader was the second largest Bitcoin exchange in Canada and became the first of many exchanges to be publicly acquired by Newnote Financial.

Aside from the unexpected announcement from CoinTrader , Newnote Financial’s website has not been updated. There is only one message: “ Good news, the Newnote website will be available soon. ”

It is unclear how CoinTrader plans to take responsibility for this and how it will manage users’ accounts.

CCN has reached out to CoinTrader for an explanation for the sudden closure of its exchange, but has yet to receive a response.