Probit, a prominent cryptocurrency exchange in South Korea, has announced its decision to shut down its exchange services, effective March 16, 2024. The company cited difficulties despite its efforts to enhance the trading environment. As of the announcement, all exchange-related operations, including registration, deposits, and withdrawals, ceased. Users are urged to withdraw their funds and assets before the service termination. Withdrawals will be facilitated through a designated system until June 16th, with potential additional fees. Probit, launched in 2019 with a focus on safety, initially experienced rapid growth but struggled to maintain market share amid fierce competition from larger exchanges. As of recent data, Probit's market share in South Korea is minimal, reflecting less than 0.1% of the 24-hour trading volume.

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