Why did VCC Exchange stop providing services to Vietnamese users?

Having received a lot of attention from the Vietnamese crypto community for working and co-organizing several crypto and blockchain programs with the Vietnamese Ministry of Justice, VCC Exchange has surprised everyone with its decision to stop its activities. With just a few notice lines, this exchange asked users to withdraw their assets before February 14, 2022, to avoid loss without further explanation.

VCC Exchange out of the game

On the morning of January 25, 2022, the VCC EXCHANGE exchange issued a notice to STOP SERVICES, citing changes in internal policies. However, the exchange did not provide or answer any more questions about these four “internal policies.”

To avoid loss, the exchange also requires users to withdraw assets before February 14, 2022, and VCC Exchange will also officially stop providing services from this date.

“Remember that you can only withdraw assets valued above our minimum withdrawal limit. If you have any problems withdrawing your assets, please contact us immediately via email. [email protected] for support VCC Team would like to sincerely apologize for any inconvenience and thanks to users for your companionship up to this point. Thank you for your understanding, and we are guaranteed to be there to assist you at any time,” the exchange announced.

If you search for the keyword “VCC exchange stopped working” on Google, the first result will be the exchange’s website. However, a DNS error message appears when clicking on that link, preventing users from accessing it.

The content displayed on the outside shows that VCC will stop providing services to Vietnamese users, but it is not clear whether the exchange will stop working globally or not.

Previously, there were many doubts that VCC Exchange was a scam exchange. However, many articles have corrected and said that the floor has a high reputation. For example, the development team of VCC is a well-known figure in the industry, with names and public addresses, unlike other projects in Vietnam. In addition, VCC is invested by large funds such as Signum Capital Axiom Associates. Signum Capital is the wealthiest royal fund in Singapore has invested in large projects in Vietnam with high profits, such as Kyber Network, Tomochain.

In addition, VCC also displays company addresses in Singapore and Vietnam, showing that the floor is always fully compliant with state regulations. This exchange also appeared at major events with significant funds such as Golden Gate Ventures, Vina Capital, representatives of government agencies, and television news on VTV1, Vnexpress, Cafebiz. There have not been any suspicions or fraud incidents related to VCC Exchange.

However, digging deeper, we can see that the exchange’s Telegram channel has been empty for quite a while, almost without posting any updates from November 2021 to now. Similarly, the Twitter channel is in the same situation.

We will continue to learn and update you as soon as we have the latest information.

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