ETCDev is most well-known as the development firm that is responsible for introducing Ethereum Classic.

However, even with the last few years of being in operation, the recent struggles of the firm to raise funds has forced them to cease their activities. Much of the blame for these financial struggles is on the recent struggle that the entire crypto market struggled with.

The founder, Igor Artamonov, took to posting on Twitter to let the company’s followers know about their unfortunate demise.

Unfortunately ETCDEV cannot continue to work in the current situation and has to announce shutdown of our current activities pic.twitter.com/N6xWnpBNJJ

— ETCDEV (@etcdev) December 3, 2018

Only four days ago, Artamonov was explaining to Twitter the ways that he felt that the Ethereum Classic platform was being taken over. He named a DFG representative as a source of problems, saying that he “convinced” the founder to hand over access to the platform’s GitHub.

Apparently, DFG then became upset with the fact that the ETC core tech would not be changed, simply for the exchange of DFG’s investment. He also referenced a recent problem that arose on Twitter, when the company took the GitHub by force, eliminating every other admin.

Much like every other company in the crypto world, Ethereum Classic managed to benefit from the bull run last year. However, it was the addition to Coinbase that helped them bring up their value. Still, nothing managed to shield them from the downward trend of the market in the last month.

Until today, the financial troubles were only rumors and hearsay, but the definitive shut down announced via Twitter confirms it all.

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