CAVIRTEX to shutdown on breach of information

Bitcoin exchange CAVIRTEX, based in Canada, announced on 17^th Feb, that it will close all its operations next month due to the breach of sensitive security information, which badly damaged its reputation.

The shutdown is subsequent to the new regulations passed in Quebec few days back, although at that time CAVIRTEX said that it intended to meet the requirements of government officials.

However, the exchange maintained that it remains solvent and that the client funds were unaffected.

"Depending on what the balance closing is, the shareholders will see a payout," said Kyle Kemper, Vice president of the Calgary-based exchange. "Anytime a company decides that it is shutting down - that doesn't really do much good for the value."