The Vault of Satoshi trading platform has announced the closure of all operations at the beginning of February. The company posted the announcement on its website on the same day that Bitstamp announced a temporary suspension of all operations.
"Vault of Satoshi will be closing on February 5th, 2015. Although new deposits will no longer be accepted, rest assured, you will have plenty of time to finalize any trades and withdraw any outstanding funds with all of the convenience and expeditiousness that you’re used to. Please ensure that all of your withdrawal requests are submitted by February 5th", the statement reads.
According to the owner of the company, the closure of the exchange has “absolutely nothing to do with insolvency, stolen funds, or any other unfortunate scenario”. Presently, the Satoshi Vault team is working on a different project, which does not deal with cryptocurrency.
Vault of Satoshi is one of the leading Canadian bitcoin exchanges. Michael Curry and Ryan von Barnveld started their enterprise in November 2013. Since then, Vault of Satoshi has acquired a reputation on the market for their accountability and liquidity.
The company staff included 9 people working on the Help Desk and development. According to the information provided by the exchange, the weekly trade volume for the period between 30/12/2014 and 06/01/2015 was around 924 bitcoins.
The news about the closure of Vault of Satoshi appeared a few hours before Bitstamp announced a halt to all operations, informing its clients that it had been a victim of a hacker attack. This has led some experts to speculate about the closure of several other bitcoin exchanges