Luno blocks crypto transfers for some users, leaving a late August cash-out deadline before monthly fees hit

Crypto platform Luno has stopped customers covered by its regional-exit notice from sending their crypto to another wallet or exchange. With that option closed, their remaining standard route is to sell their holdings and withdraw the cash to a bank by Aug. 31 before Luno closes their accounts on Sept. 1.Restrictions began June 1, when Luno disabled deposits, crypto purchases and incoming crypto for affected customers. Selling, bank withdrawals and outgoing crypto transfers remained available until June 29. Customers who missed that send deadline can no longer preserve their holdings by moving them in kind. They must convert the assets to fiat to use Luno's ordinary bank-withdrawal process.Luno has not publicly named the affected regions or disclosed how many customers received the notice. A separate country availability page currently lists Kenya, Nigeria, South Africa, Indonesia and Malaysia as supported, and a list of 33 ‘unsupported countries,' leaving hundreds of unaddressed locales. The regional-exit guidance was created May 28 and updated July 29, without a public record showing which passages changed.Funds left behind face rising costsBalances below the equivalent of $10 ca...