Nuri, a German crypto bank, has advised its 500,000 customers to withdraw their funds before the bank closes.

Nuri, a German cryptocurrency bank, has told its 500,000 customers to take their money out of their accounts because the company is getting ready to shut down and sell off its assets. This makes Nuri another victim of the 2022 bear market.

In August, after announcing that it had filed for insolvency due to the economic strains of Crypto Winter, Nuri said that it was having trouble getting money. At the time, it said that business would go on as usual while it worked on a restructuring plan and tried to get a buyout. However, a buyout has not happened.