Woofun AI reports that Estonian cryptocurrency exchange Coinmetro has initiated bankruptcy restructuring proceedings and suspended all deposit and withdrawal operations. The platform attributes this action to "a special situation caused by the bankruptcy of a financial service provider," having fully halted user registration, deposits, and withdrawals since June 22.

Coinmetro CEO Kevin Murcko stated that the related provider's failure occurred years ago, but the approaching July 1 deadline for EU Markets in Crypto-Assets Regulation (MiCA) compliance has exacerbated the legacy funding gap, severely impacting the company's balance sheet. Reports indicate Coinmetro also faces overdue annual reports and unpaid taxes in Estonia, alongside a lawsuit from bankruptcy trustee Prime Trust seeking to recover approximately $1.2 million withdrawn prior to the collapse.