German cryptocurrency startup with 500,000 users announces its own collapse

Nuri, a cryptocurrency startup from Germany, has published a statement about its own bankruptcy — all due to the unstable market situation and the bankruptcy of other crypto companies.

According to a post on Nuri’s official Twitter page, the company hopes that the «temporary difficulties» will not have a negative impact on the startup’s work in the future and «will give impetus to faster development.» Nuri representatives emphasized that the bankruptcy will not affect the provision of services and transactions, especially the withdrawal of client funds, and promised that everything will work as usual.

It is worth noting that some clients reported difficulties with withdrawing their assets through the Nuri mobile app. However, the company claims that the problems with various types of transactions are the result of high traffic, and users' funds are safe.

Recently, many cryptocurrency projects have announced their own bankruptcy, and trading platforms freeze the possibility of withdrawing client funds almost every day. In view of this, Binance CEO Changpeng Zhao advised users to be careful and cautious and not to use the services of suspicious platforms or those on the verge of bankruptcy. Zhao voiced this position after the Indian crypto exchange WazirX was accused of violating the Foreign Exchange Management Act last week (insiders believe that Binance acquired WazirX back in 2019).