The sequence of events in the exchange wind-down, as publicly announced and reported. documented = the exchange's own announcement or preserved primary evidence · reported = press/community statement, unverified · open = unresolved. ← Back to main page
| When | Event | Label |
|---|---|---|
| May 2026 | The exchange reportedly commits to publishing proof-of-reserves. None has been published as of the dates below. | reported |
| Jul 26, 2026 | Exchange announces an "orderly" wind-down and closure. Deposits and new sign-ups halted the same day. | documented |
| Aug 21, 2026 | A restructuring process is floated; White & Case reported as counsel. | reported |
| Aug 26, 2026 | All trading stopped. Withdrawal-request submissions cut off at 05:00 UTC — customers with balances but no submitted request are left without an announced withdrawal path. | documented |
| Sep 2, 2026 | Ad hoc claimholder committee organized by Echo Base; Young Conaway and Ashbury Legal reported as counsel. | reported |
| Sep 2026 | Alvarez & Marsal reportedly engaged as financial adviser. | reported |
| Sep 9, 2026 | Published roadmap deadline missed; no revised public schedule issued. | reported |
| Sep 16, 2026 | Customer feedback portal opens. It collects feedback — it does not process withdrawals or claims. | documented |
| Sep–Oct 2026 | Customers report frozen and rejected withdrawal requests; employees allege unpaid wages; token projects (incl. OpenGradient, Scandic Coin) report frozen treasuries; Sonn Law announces investigation into claims of $500k+. | reported |
| Ongoing | No proof-of-reserves, no claims register, and no recovery estimate published. | open |
| Jan 31, 2027 | Announced full closure date. Only limited account access afterward — export all account data before this date. | documented |