Estonia-based Coinmetro Files for Bankruptcy Reorganization, Suspends Withdrawals on June 22

According to Protos, Estonia-based crypto exchange Coinmetro announced it has filed for bankruptcy reorganization with local courts and suspended user registration, deposits, and withdrawals starting June 22. CEO Kevin Murcko attributed the move to a "special situation" triggered by a financial services provider's failure, with the underlying fund gap now creating a critical impact on the company's balance sheet.

Murcko revealed that while the provider's failure occurred years ago, the gap became material as the July 1 deadline for EU crypto asset market regulation (MiCA) compliance approached. The exchange also faces overdue annual reports and outstanding tax payments in Estonia.