Cryptocurrency trading venue Nova Exchange has just notified its clients about the upcoming closure of the platform.

The team behind the website claims that Nova Exchange will have new owners and management effective April 2018, promising major upgrades to the exchange to better handle scaling, stability and security.

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Explaining the rationale behind shutting down the platform before it is handed to the new owners, they write: “For better management and security of customer funds we have decided to close down Nova exchange so that the users can withdraw all their funds with no participation/responsibility of action of the new management.”

Preliminary plan:
2017-10-30 User registration closes, add coin page closes, disabling deposits of ETC and ETH
2017-11-30 Deposits disabled for all coins, all users get level 3 verified account level
2017-12-15 One last deposit scan to take care of deposits made after 2017-11-30
2018-01-31 Email reminder to all registered users
2018-02-28 Trading engine stops, dice game stops, API stops
2018-03-31 Login stop, website replaced with information
2018-04-15 Support closes, all user data removed

The team warns: “Remaining user balances that has not been withdrawn before 2018-04-01 will be considered a donation and is not refundable.”

Nova Exchange lists a wide range of cryptocurrencies, over 230 coins, especially lower market cap altcoins that are not listed on larger exchanges. Registration was free and fees were 0.2% for processed trades. Beyond trading it also offers ‘dice’ and ‘scratchcard’ gambling features. The platform announced that it suffered a hack of less than 5 BTC in late 2016 and set up a fund to repay customers.