Crypto exchange Bitfront shuts down

Bitfront, a US crypto exchange backed by Japanese social media firm Line Corp, said it has suspended new sign-ups and credit card payments and will cease operations in a few months despite efforts to overcome challenges in the rapidly evolving industry.

“However, despite our efforts … we have regretfully determined that we need to shut down Bitfront in order to continue growing the LINE blockchain ecosystem and LINK token economy,” the California-based company said in a statement on its website.

Bitfront said the move is unrelated to recent issues among certain crypto exchanges that have been accused of “misconduct.”