Hong Kong-Based Bitspark Shuts Down Amid Coronavirus Outbreak

After six years of operating, Hong Kong-based blockchain remittance firm Bitspark is closing its doors.

Bitspark CEO George Harrap announced the news on Monday, saying that the company will cease operations on March 4, 2020.

This decision was not taken lightly, particularly due to the excellent performance we have seen since the release of our Cash Point product late last year which has seen 400% MoM growth and, as our customers will attest, they’ve been running dry on cash daily for the last month due to demand. Unfortunately due to internal restructuring that hasn’t worked out, and a decision taken by shareholders internally, we have made the decision to close our doors.

Harrap went on to say that while the Hong Kong protests and the recent coronavirus outbreak didn’t affect the company much, it didn’t help either.

Functionality will remain intact until March 4, allowing customers to withdraw their crypto. After that, logins will be disabled for 90 days.

Harrap ended the post thanking everyone that made Bitspark possible, saying that it’s been a wild ride and something the whole team would be proud of.

Photo: Mark Lehmkuhler