The decentralized cryptocurrency exchange CryptoBridge announced that it is closing down in a message on its website. In the announcement, the exchange warns users that all of the firm's services and servers will terminate after Dec. 15.

Users will be able to withdraw funds from the exchange until the last day of operation, but deposits will be closed after Dec. 3. Users visiting the official Twitter profile of the exchange are met with a "That page doesn't exist" warning.

Major crypto exchange Binance launched one in April while its competitor Poloniex acquired a Tron-based DEX at the end of November. On Nov. 27, decentralized liquidity network Bancor announced a 60,000-token airdrop in an attempt to expand its liquidity pool.

Low liquidity is a major issue facing decentralized exchanges and hindering their ability to compete with centralized exchanges.