Damn! Why does Huobi want to stop its operations in this country?


 "It's fun to be hit by problems, persevere, Huobi."

Recently news broke about cryptocurrency exchange Huobi issuing a notice to its customers to end their services in South Korea this month following a challenging business environment.

Reportedly, Huobi, which is about to stop its operations in the country, has revealed that its local virtual asset trading service will only be available until January 29, 2024.

The move is meant to give users time to remove their digital assets from the platform, so everyone should complete whatever business needs to be done or completed before the service is completely shut down three weeks from now.

In addition to thanking all its customers who use Huobi Korea, the team also couldn't help feeling sorry and disappointed for their customers following the failure to continue providing virtual asset exchange services.

Through observation, Huobi Korea has started the closing process by blocking some services and leaving only some to allow users to complete any transaction.

The crypto exchange that has upgraded its system has also implemented a brand renewal to offer better services for digital exchange transactions including making a comeback through a new blockchain business model.

There is no denying that Huobi Korea is about to stop its operations, but its team assured its customers that their digital assets will be safe and everyone has a chance to withdraw their funds before the shutdown.