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TAGZ Exchange Platform will close

TAGZ Exchange Platform will close

Forced Closure Shutdown July 30th

Dear community,

It is with great regret today that we hereby announce the TAGZ Exchange Platform will be ceasing operations as of July 30, 2020.

Due to the Covid-19 pandemic and external factors out of our control we have had to make the tough call to decommission the exchange and legally award all users a 30 day notice.

We have tried to rework the current business model but unfortunately there is no situation where the exchange can remain profitable.
Please know that the decision to shutdown operations did not come lightly as we have tried many ways over the past 12 months to keep afloat but unfortunately all good things come to an end.

What happens now?

As of August 1st, 2020 the TAGZ Exchange Platform will close and all functionality will be terminated.
Tagz Group Pty Ltd will enter administration along with all owned assets to be liquidated to pay out all outstanding debt obligations.

What happens to your funds held on your exchange account?

You are required to withdraw all assets from your account immediately and will have the next 30 days until July 30, 2020 to do so.
Any assets not withdrawn and still held on the exchange after this time will be forfeit and will be added to liquidated company asset holdings.

Please Note: Our official company statement encompassing this letter can be read here.

Thank you for your patronage.

Sincerely,

Bryan M. Seiler
Founder & CEO
TAGZ GROUP PTY. LTD.


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