Coinspeaker
LocalMonero Initiates Process to Wind Down Operations after Seven Years in the Market

LocalMonero, a P2P Monero (XMR) trading platform, has announced the closure of its operations after seven years in the market. According to the announcement, LocalMonero made the hard decision of winding down its operations due to both internal and external factors. As a result, LocalMonero is henceforth not accepting new user registration and trade ad pasting has already been disabled.

The LocalMonero platform was largely similar to the previously closed LocalBitcoin. The LocalMonero team has informed users that they have until May 14 to wind down on all new trades. Additionally, the LocalMonero team will be available throughout the process to mediate any trade dispute and facilitate seamless winding down of operations.

Meanwhile, LocalMonero users have until November 7, 2024, to withdraw their funds from the platform, since the website will be taken down. The AgoraDesk team announced that LocalMonero users can opt to delete their account before the winding process is completed in the coming months,

“The winding-down process begins today and finishes 6 months from now. Our support staff will be available for help throughout this period,” Loca...