Another crypto platform falls victim to the so-called crypto winter. This time it’s TipJar, a crypto tipping service on Reddit.
Announced on Monday by the developer of the Ethereum-based service, TipJar terminated its services on the same day, citing a declining activity.
“I’m posting to alert you all that the TipJar website will be shut down in 6 months. I had a great time creating this service, and it was fantastic seeing all the engagement when it was being used actively, but lately, there has been very little activity on the bot,” the developer with Reddit username doppio stated.
“I have been paying the monthly server fees for several years, and although they are pretty minimal, at this point it doesn’t make much sense for me to continue putting money into the service when it’s going unused.”
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Although the website is still functional, it will cease to exist on April 10, 2020. He also requested the users to withdraw any stored funds as soon as possible, as their accounts will be inaccessible after the deadline.
The developer also assured to make the code open-source as the service is no longer available.
“I have been asked a lot about making the code open-source, which I have been hesitant to do before doing a more rigorous analysis of the system’s security, but I would be happy to make the code open-source when the service is no longer running,” doppio added.
The dark impact of crypto winter
Though the crypto market was revived after the massive drop throughout last year, it already created dents in the books of many crypto platforms. Earlier this month, altcoin-focused exchange Coinexchange.io decided to terminate its service, which resulted in the dumping of several coins on the market.
One of Thailand’s biggest crypto exchanges, Bitcoin.Co, also ceased its trading services recently, citing the firm’s decision to move to other business areas.