Revealing why CGEX will be destroying its customer data in September

Malta-based cryptocurrency exchange CGEX has announced it is going to delete its data about customers next month.

CGEX has issued a statement saying that it will end its service on September 18 2019. As part of that clients’ “personal information (including transaction details) will be destroyed accordingly with the end of service.”

The statement continued. “All assets held in your account can be withdrawn until the end of the service and further withdrawal will no longer be available after this date. We further inform you that personal information with obligatory preservation clauses will be safely stored until destroyed at the end of the obligated period as outlined by the Act.”

CGEX suspended its services two months ago. However, in the statement announcing the suspension of its services, it said this was to “prepare for a new paradigm change in cryptocurrency exchanges, CGEX is preparing a new trading platform.”

The cryptocurrency made its new announcement after having opened less than a year ago. CGEX opened in October 2018.

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