Cryptocurrency exchange Luno has imposed a series of restrictions on an undisclosed group of customers as part of a regional exit, with key deadlines approaching for withdrawals and account closures.
Starting June 1, affected accounts were limited: deposits, crypto purchases, incoming transfers, recurring purchases, and pending orders were all disabled. Customers could still sell assets, withdraw fiat to a bank, and send crypto to external wallets until June 29. That crypto transfer window has now closed. Those who missed it can no longer move their holdings out of the platform except by selling them and withdrawing the fiat proceeds before August 31.
Ordinary fiat withdrawals via bank will also cease after August 31. Full account closures follow on September 1, after which wallet access will end. Users who haven't verified a withdrawal account are urged to contact support immediately, as deposit options—used in some regions for bank verification—are already disabled. A bank statement or letter (issued within the last three months) showing the customer’s name and account details is required to process manual withdrawals after closure, which typically take three to five business days once verified.
Balances below the $10 equivalent cannot be processed and will be retained by Luno after September 1. For balances above $10, a $2 monthly inactivity fee begins in September, and an additional $50 dormancy charge applies from December, bringing the total monthly cost to $52 while funds remain with the exchange.
Luno has not publicly identified the affected regions or the number of customers impacted. The company stated it is withdrawing to “focus on our core markets across Africa and South East Asia.” Its current availability page lists Kenya, Nigeria, South Africa, Indonesia, and Malaysia, but this does not clarify which other regions received closure notices. The move coincides with a wider restructuring; Luno confirmed on July 28 plans to cut about 20% of its global workforce. However, the company has not linked the account closures to the job cuts or to any regulatory, security, or financial distress concerns.
