Prominent Spanish Crypto Exchange ‘2gether’ Suspends Operations

• Customers were notified via email by the exchange.
• To keep their accounts alive, they must pay $20.35 every month.

Some cryptocurrency exchanges and lenders have been unable to restore client payments that have declared bankruptcy or are in the process of obtaining extra capital to stay functioning due to the present decline in the market for cryptocurrencies. Customer access to the site has been suspended at 2gether, one of Spain’s oldest crypto exchanges.

Customers were notified via email by the exchange that it would be unable to continue serving them owing to the present market circumstances.

The company explained:

“After five years of serving the crypto community, we are forced to close the private account service. The lack of resources and the crypto winter prevent us from providing the service with the quality and guarantees [with which] other nearby providers are doing it.”

Yet Another Crypto Firm Goes Down

2gether seems to be the only Spanish cryptocurrency exchange adversely impacted by the present market conditions. In contrast, 2gether consumers have not been able to transfer money to other exchanges or their own private wallets. Since the exchange no longer accepts new deposits, the firm has shut down its platform and notified users that to keep their accounts alive, they must pay the exchange the equivalent of €20 ($20.35) every month.

This quantity of cash must be accessible by June 10th, or accounts will be suspended, and the remaining cryptocurrencies will be liquidated. This move affects 100,000 clients who trusted 2gether to complete their transactions and preserve their monies, according to reports from ASUFIN, the Spanish Financial Users Association. All of the exchange’s clients will be represented in the lawsuit, which the group plans to file.

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