The founder of the Kuna cryptocurrency exchange, Mikhail Chobanyan, sent a letter to the platform’s users announcing the closure of the project. He told them by what date they can withdraw their funds.
The founder of the Kuna cryptocurrency exchange, Mikhail Chobanyan, sent a letter to the platform’s users announcing the closure of the project. He told them by what date they can withdraw their funds.
Chobanyan recalled that on March 11, 2014, he launched Kuna as «the first Bitcoin agency in Eastern Europe».
«Like today, it was a difficult period for Ukraine. Both Crimea and Donbas were Ukrainian, Bitcoin cost 5,493 hryvnias, and I was the only employee who dreamed of creating a civilized crypto market in Ukraine,» said the founder of Kuna.
He added that Kuna has fulfilled its purpose and «it is time to close this chapter». Mikhail Chobanyan also announced that his next projects will be in the field of GovTech and AI. According to him, these will be systems based on a new form of governance — symbiocracy.
«We are conducting the largest Proof of Reserves in history — a verification method used by cryptocurrency exchanges and custodians to transparently confirm that they hold enough assets to cover their customers’ funds,» said the Kuna founder.
In the letter, Chobanyan stated that «the time has come to collect your crypto,» and reminded that cryptocurrency belongs to users only when they have the keys to the cold wallets.
The Kuna closure roadmap, which will last about a month and a half, has the following important dates:
«Thank you for being a part of this story. The end is only the new beginning!», — wrote Mikhail Chobanyan. In the letter, he also provided a link to the first version of the Kuna website in the Web Archive.
The founder of Kuna announced his intention to cease commercial operations of the crypto exchange in all countries in January 2025. He emphasized that there is no talk of selling the crypto exchange.
Mykhailo Chobanyan made this statement after the decision of the Shevchenko Court of Kyiv on January 23 was made at the request of the Bureau of Economic Security of Ukraine, according to which the State Service for Special Communications sent a letter to all communication operators stating that the blocking of Kuna had begun.
Earlier, the BEB explained why the work of the oldest Ukrainian crypto exchange Kuna was blocked, and also reported that the department is conducting an investigation into tax evasion by the Kuna crypto exchange group of companies.
