LocalMonero, a peer-to-peer trading platform for the privacy-focused cryptocurrency Monero, has ceased operations immediately.
On May 7, LocalMonero stated that it has deactivated new registrations. Trading of this privacy-centric digital currency will also be deactivated on May 14.
The company has also informed users that the website will stop working on November 7 and advised them to withdraw funds from their wallet before that date. Otherwise, the funds could be considered abandoned.
The team has expressed confidence in the future of Monero, with the upcoming launch of decentralized exchanges such as Haveno and Serai.
This announcement comes a year after LocalBitcoins announced its closure after a decade in operation.