Luno has blocked customers in certain regions from sending crypto to other wallets or exchanges, effectively locking them into a cash-out process as part of the exchange's withdrawal from those markets. The restrictions, which began June 1, now mean affected users must sell their holdings and withdraw cash by August 31 or lose access to their accounts entirely.
What changed on June 29
Until June 29, affected customers could still send their crypto out to another wallet or exchange. That window is now closed. Anyone who missed that deadline can no longer preserve their holdings in kind — they have to convert to fiat and use Luno's bank-withdrawal process. Selling and standard bank withdrawals remain available until August 31, but outgoing crypto transfers are gone.
The August 31 deadline and what happens after
After August 31, selling and bank withdrawals stop. Wallet access ends September 1. Luno will then close the accounts. Balances below the equivalent of $10 cannot be processed under the minimum withdrawal threshold — Luno keeps those. Customers with more than $10 can request a manual withdrawal after closure by contacting support with verified bank details or a recent statement. Those manual withdrawals take three to five business days and don't restore ordinary account access.
Then the fees kick in. Starting in September, remaining funds face a $2 monthly inactivity fee. From December, an additional $50 monthly dormancy fee applies — that's $52 per month. Luno hasn't confirmed whether the exact fee schedule varies among the unnamed affected jurisdictions.
Unnamed regions and unanswered questions
Luno has not publicly named the affected regions or disclosed how many customers received the regional-exit notice. The exchange's country availability page lists Kenya, Nigeria, South Africa, Indonesia, and Malaysia as supported, plus 33 'unsupported countries' — leaving hundreds of unaddressed locales. The regional-exit guidance was created May 28 and updated July 29, but there's no public record showing which passages changed. That lack of transparency has left customers guessing whether they're affected.
Why Luno is pulling out
Luno said it is withdrawing from the affected regions to focus on core markets across Africa and Southeast Asia. The exchange has not linked the decision to insolvency, a security breach, or a specific regulatory order. The timing isn't great for users caught in the middle — they're forced to sell into whatever market conditions exist, with no option to move their crypto elsewhere.
The big open question: which regions are actually affected? Until Luno names them, customers in dozens of countries are left wondering if their accounts are next.
