Crex24 to stop operations in India

Some of Indian visitors have informed us that Crex24 crypto exchange will no longer entertain users from India. This is the email received by Crex24 users,

Crex24 india

“You received this email because your account was logged in from Indian IP addresses. Unfortunately, our exchange cannot provide its services to residents of India. If you are a resident of India, please withdraw your funds from our exchange before May 11, 2022. You may contact our support team if you have any problems with withdrawing your funds. If you are not a resident of India, please ignore this email.”

Crex24 cryptocurrency exchange will not immediately stop working if you are an Indian user. You still have time May 11th 2022 to withdraw your funds to a cryptocurrency wallet or a crypto exchange.

Interestingly, Crex24 has not given any specific reason on why are stopping services to Indian users, but it could be due to a notice from Indian government. Until now, Indian government has not sent any crypto exchange to comply with them. Could Crex24 be linked to myriad Indian online crypto scams which made forced this exchange to stop providing services to entire India all-together?

May be, but we can only speculate as Crex24 has not specified any reason.