Last updated on January 2nd, 2018 at 12:00 am
Melotic‘s Exchange service will be shutting down May 15th due to what the company states was lack of growth.
The company stated in an email and blog post that it did not experience enough growth in this product to justify the ongoing costs of development, maintenance, and support.
New user registration and deposits will be disabled soon and existing users are being advised to withdraw coins as soon as possible. The withdraw coins function will remain online until May 15th at which time they will be taking the exchange offline and returning coins to the depositing address.
The company will be pivoting and is working on a new product.
The company began implementing an AML/KYC policy in October of 2014.