German crypto bank Nuri has informed users to withdraw funds from their accounts as the firm prepares to shut down and liquidate the business.
Nuri first reported liquidity issues in August, after announcing that it had filed for insolvency amid the economic strains of Crypto Winter. It said at the time that business would continue as usual, as it worked on a restructuring plan and securing a buyout, however an acquisition has failed to materialize.
Unlike bankrupt crypto lender Celsius which locked user withdrawals before everything went south, Nuri is encouraging users to withdraw all of their assets before the Dec. 18 deadline.
Customers have been assured that they have access to their accounts and will be able to withdraw all funds until the aforementioned date and that all assets in customer account are safe and unaffected by Nuri’s insolvency.
