Kuna Halts Deposits and Announces Closure Date

As of March 12, the bitcoin exchange Kuna has ceased accepting deposits in preparation for its complete shutdown. The company has sent notifications to its clients regarding this development.

Users have the opportunity to exchange assets until March 17. Cryptocurrency withdrawals and the activation of Kuna codes are available until March 28. After this date, funds can only be withdrawn by contacting customer support via email.

On April 30, the platform will cease operations entirely and disconnect its servers.

Kuna’s founder, Mykhailo Chobanian, stated on his Telegram channel that the exchange has fulfilled its purpose, and the current withdrawal process will become “the largest Proof-of-Reserves in history.”

The entrepreneur plans to shift his focus to projects in the GovTech and artificial intelligence sectors.

Back in late January, Chobanian announced the decision to wind down Kuna’s operations in all countries. In early March, the exchange delisted several cryptocurrencies to comply with MiCA regulations and meet virtual asset service provider standards.

Previously, Ukraine’s State Special Communications Service blocked the exchange’s domain based on a decision by the Shevchenkivskyi Court of Kyiv following a request from the Bureau of Economic Security.

Mykhailo Chobanian discussed the situation in more detail on the “Podcast Society” on ForkLog’s YouTube channel.