Luno Blocks Crypto Transfers for Affected Customers Amid Regional Exit

Crypto exchange Luno has blocked crypto transfers for customers in certain regions, forcing them to sell their holdings and withdraw cash before August 31.

The restrictions began on June 1, when Luno disabled deposits and incoming crypto transfers for affected customers. However, selling, bank withdrawals, and outgoing crypto transfers remained available until June 29.

Luno has not publicly disclosed the affected regions or how many customers received the notice. The company is withdrawing from these areas to focus on core markets in Africa and Southeast Asia.

Customers with balances above $10 can seek a manual withdrawal after closure, but they must provide verified bank details and it may take three to five business days. Those with less than $10 will have their balances retained by Luno.