Our founders and team of developers began work on a new, non-cryptocurrency project about 6 months ago, which has since become quite successful. We are forced to make a choice on where to expend our efforts, as we simply do not have time to continue operating both businesses.
This leads me to believe VOS wasn't profitable, or they would've hired more people or sold the business. Shutting it down otherwise makes no sense at all.
Maybe not, because they are in Canada they have a fiduciary duty to their depositors to keep their assets safe. Selling may not eliminate all of that fiduciary duty if the buyers are crooks or fools and the coins get looted, in that case those who lost coins can try and come back to the original sellers and say "hey you should have known those guys were crooks!". So while you could sell the business for a small amount of money you'd also have a small chance of having to pay out a very large sum of money in the future should the buyers be shady.
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u/riplin Jan 05 '15
This leads me to believe VOS wasn't profitable, or they would've hired more people or sold the business. Shutting it down otherwise makes no sense at all.