Vault of Satoshi is Closed for Business
Vault of Satoshi closed on February 5th, 2015. Balances will be reduced 25% of the ending balance per month starting March 15th, 2015 and continuing every month until all balances are zero (4 months time), at which time the site will be turned off completely. After this time (June 15th, 2015), any remaining funds will be claimed by Vault of Satoshi. If you have made arrangements to have your money withdrawn, or your withdraw request is still being processed your balance will be immune to the balance fee.
We expect there will be some speculation as to why the Vault is going to be sealed forever, and we’d like to reassure the community that it has absolutely nothing to do with insolvency, stolen funds, or any other unfortunate scenario. To this day we are proud to have run the first full proof-of-reserve exchange in the industry, with strict compliance and security regimes. Our decision stems from opportunities presented by a new business that has forced us to reexamine our priorities.
Our founders and team of developers began work on a new, non-cryptocurrency project about 6 months ago, which has since become quite successful. We are forced to make a choice on where to expend our efforts, as we simply do not have time to continue operating both businesses. We feel splitting our focus would be a disservice to the customers of Vault, so although our competitors may lack some of the features, currencies, and innovations that Vault brought to the Canadian market, they will serve you well for your basic exchange needs.
We are still true-believers, and think Satoshi Nakamoto has set in course something that will change the world for the better. Thank you loyal Vault customers for joining us on one of the most exciting adventures of our time! There’s no doubt that this is just the beginning, and we will continue to watch from the sidelines as history unfolds, with Bitcoin becoming more understood, accepted, and appreciated every day.
The Vault of Satoshi Team