Venezuelan bitcoin exchange Surbitcoin halts operations

Announcements | February 6, 2017 By:

Venezuelan bitcoin exchange Surbitcoin is no longer trading locally after its Banesco, the exchange’s main bank partner, suddenly suspended withdrawal and deposit services.

In a statement, the exchange said it would be forced to cease operations for at least two weeks while it “establishes a new business structure with new improvements and security measures.”

Surbitcoin has advised its users to shift to Localbitcoins for the purchasing and selling of digital currency.

The exchange has its physical presence in the US but has faced a raft of problems with its Venezuelan bank Banesco in recent times, local news resource Diario Bitcoin reports. Delayed payments and hold-ups due to problematic banking infrastructure mean that this total suspension comes as less of a surprise.