CoinNest, a centralized cryptocurrency exchange located in Korea, has closed its doors. The exchange, which was the first Korean exchange to list NEO, and was at one point the third largest cryptocurrency exchange in Korea by daily volume, has ceased all trading. Users have until June 30th, 2019 to withdraw their assets from the exchange.

In news reporting from CoinDesk Korea, a CoinNest official stated that decreased trading volume as well as “regulatory issues and business decisions” caused the exchange to close.

NEO-related assets formerly traded on the exchange include NEO, GAS, and QLC.

The CoinNest exchange closing announcement (Korean language) can be viewed in full on the front page of the CoinNest exchange: