Why is the Platforms closed, even if it is not hacked?

[Ridam 7455]

That's really bad for exchanges but i don't think if they did good promotion and add attractive offers sure the exchange would be promoted and many people join. And due to huge running fees and security expenses like you said these exchange maybeen closed

[IamLeader12 682]

I think that the lack of profit is a common reason, if the exchange does not bring any income to its owners, it does not make any sense to engage in it. 

[Ayush Singh 1175]

Mainly exchanges get closed even if they are not hacked because of their earnings all the exchanges need to earn that much amount of profit which can help them to carry out their activities for a long term but due to the low earnings exchanges quit their services in between. 

[DokAgsikap 145]

Because, the number of users or traders is decreasing that is why it happens, many exchange has been close because of the thing.

[cryptoya11 479]

Really? Are you don't understand the point to now!

They closed its self platform to steal people's money!.... not depends of hacked or no,,, anyway

they can say its hacked but [ at really the owners who hacked it  they are the really spammers who do it! ]

Edited May 21, 2020 by cryptoya11

[Virgil dijk 1431]

Well for me I think the closing door of exchanges which was not hacked is either the exchange can no longer move on since the exchange is no longer profitable or there must have planned it that when creating the exchange that when there get a certain amount of funds from investors and traders , there would close the exchange and get rid of people's money.

[malik6314193 5449]

On 5/22/2020 at 10:54 PM, Mrrixkhan said:

we always think about those ,which has more traffic but sometime it goes away and also get out our money and never give us withdraw even if they are not hacked,one of them is extstock now

Yes you are right. I am also victim of this exchange. I lost my 250$ in tvis exchange. Now they are not giving withdraw to their users. Funny thing is that extstock exchange is still running. 

[Jaysen0104 536]

I think because they lost big investment that leads to them to force close the site or specifically the exchange. And also they focus to be successful immediately without passing through the process that's why they failed.

[Jeet Narayan 1940]

In 2019, Many big crypto exchanges are closed . Even they are not hacked. I think, these exchanges are not getting much profits and have big volumes in their exchanges .

[DreamStage 2105]

I think that from my experience i have seen some exchanges collapse due to economical growth from competition (other exchanges on the market) as well as not having the power or the will to offer more virtual currencies and thus more features on their exchanges therefore losing interest and shutting them down.

 

Also another reason could be for their project plans not going into the proper directions as expected.

[cooperallch 349]

This is really true, I remember an exchange I used, coinexchange this exchange closed its doors, and on the website she said that the reason was because she was not making a profit to maintain the maintenance and security of the exchange and so she was going to end her services, so I think that usually the reason may be this

[mattsett 120]

I think that some exchanges close for some reasons, sometimes there are few users and they cannot earn income, sometimes they have regulatory pressure from their country, or they simply give up on the exchange because they see no future

[Hfaragon33 29]

for caution, they close the platform by protocol, like thes of exchanges when suffers an attack. But its different if the exchange dosnt have opperations, any volume, its die Quickly

[LeonardoG92 39]

When an exchange decides to completely close its doors it is not necessarily due to cyberattacks, in my opinion other variants influence.

It may be the low flow of users, and this causes little liquidity in your market.

 

Mismanagement can cause capital losses, which in the future can become a time bomb.

 

Of course, for example, if an exchange suffers constant hacking attacks, it can cause losses to both users and administrative staff.

 

The question for an exchange to remain standing would be to reinforce a security scheme and provide constant innovation in its market.

[guatazoo 7150]

If you see the exchange get closed suddenly without any reasons, thats means the exchange was pretending to be legit before while it is scam, so thats all the time it was been waiting for many deposits and run away.

[Waqar Qainth 0]

If a platform is closed even it is not hacked it means that platform has mad scam with you. There is no any other reason of permanently closing of platform. Some platform close their activities for a short time to do some maintenance. 

[iloveyobit 6599]

Sometimes hacking is not what is the reason for closing any website or platform, but bankruptcy is the reason, when the services of the platform are bad, they will start to lose their customers, as happened with many platforms and they will close .. 

[joemcgwa 3227]

In order the exchange to be closed there must have certain reasons for it to be closed, such as the exchange is closed according to their governments laws it is prohibited or maybe they were not having business license.

[Mohsinrafiq169 210]

Con not the any plate forum to the safe of the hackers .because the hacker are more intelligent and more method of hacking the platform so they are not safe any plate forum.

[Joker645 80]

Potential is the principle detail for any exchanger. To keep a site coast any exchanger desires human beings that allows you to preserve but if they don't like the ones exchanger then those exchanger must near there business

[duncun007 3577]

On 5/14/2020 at 2:29 PM, IamLeader12 said:

I think that the lack of profit is a common reason, if the exchange does not bring any income to its owners, it does not make any sense to engage in it. 

yea this is why so many exchanges end up dying each year, and to me i think if the exchange spend more on promotions and lowered their fees for a while they will gain more users overtime. because this is how binance drew the attention of it users.

[Froshk 1828]

Maintenance was done on the site in other to cub malicious entries and also to clean the site from any potential attacks. I believe it's was the best thing to do as a global exchange site

[Alex9876r 1408]

In order for the platform to be profitable, it must have a minimum daily circulation limit and therefore there must be a minimum number of users and continue to attract users to it with its features and continuous offers and in addition, as you indicated that the protection costs are high, especially after the world of crypto and the currencies in it have become very automated, thus increasing ambitions Hackers theft.

[GanBin 705]

Some platforms can be closed temporarily because of on or two things, like if they sense hackers trying to hack the exchange, they can close it for a while. I have not seeing any exchanged that permanently closed without it being hacked. But if happened, that will be as a result of misappropriation of customers funds. 

[Abdulrahman3 1252]

One of the most important reasons that make platforms close their doors and withdraw from the idea is the piracy that they are exposed to daily, and there are other reasons such as the small number of traders, but this is due to the platform's policy, because there are successful platforms and have many clients.