Luno has ended cryptocurrency transfers for customers affected by its regional exit, leaving them with only one standard way to recover their funds before their accounts are permanently closed.
Users who received the closure notice can no longer move their crypto to another wallet or exchange. Instead, they must sell their digital assets and withdraw the cash to a linked bank account by August 31. Accounts that remain affected will be closed on September 1.
The exchange has not disclosed which regions are impacted or how many customers received the notice.
Luno halted certain crypto transfers for users, setting Aug. 31 as the deadline for bank withdrawals before Sept. 1 service closures. #Crypto #Luno #Exchange
— The Market Maker (@PiEDawg_) August 3, 2026
Luno ends crypto transfers as account closure deadline approaches
Luno started restricting the affected accounts on June 1 by disabling deposits, crypto purchases, incoming transfers, recurring buys and pending orders. Customers were still allowed to send crypto to external wallets until June 29, but that option has now ended.
As a result, users who did not transfer their assets before the deadline can no longer move them through the normal account process. According to Luno’s guidance, they must now sell their crypto and withdraw the proceeds to a verified bank account before August 31.
After that date, regular sales and bank withdrawals will no longer be available. Wallet access will also end when accounts close on September 1. Customers without a verified withdrawal account have been asked to contact support and submit a recent bank statement or official bank letter so manual withdrawals can be processed after closure.
Unclaimed Luno Balances Face Monthly Fees After Closure
Luno said balances below the equivalent of $10 cannot be manually withdrawn because they fall below the platform’s minimum withdrawal limit. Those funds will remain with the company once the accounts are closed.
Customers with balances above $10 can still request manual withdrawals after September 1, but keeping funds on the platform will become expensive. Luno said it will charge a $2 monthly inactivity fee from September. Beginning in December, an additional $50 monthly dormancy fee will apply, bringing the total monthly charge to $52 until the balance is withdrawn.
Regional exit comes as Luno reshapes its business
Luno said it is scaling back operations to focus on its core markets across Africa and Southeast Asia but has not identified the regions affected by the latest account closures. The exchange currently lists Kenya, Nigeria, South Africa, Indonesia and Malaysia among its supported markets.
The withdrawal deadlines also come shortly after Luno announced plans to reduce about 20% of its global workforce as it shifts more resources toward institutional and business-to-business services. Meanwhile, Luno joins five crypto companies among seven fintech firms cleared by Nigeria’s Securities and Exchange Commission for admission into its Accelerated Regulatory Incubation Programme, as the regulator continues efforts to bring digital asset businesses under formal oversight.
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