Bitcoin poker website Seals With Clubs has announced that it is shutting down.

In a notice posted on its website, Seals With Clubs cited security issues but did not disclose the specific events that led to the decision.

The site has experienced security problems in the past, having been the target of a database hack in December 2013 that resulted in the theft of 42,000 passwords.

Seals With Clubs stated that withdrawals will be available and advised all users to not deposit any bitcoins. Describing the situation as one constituting “a perpetual state of jeopardy”, Seals With Clubs said that the result was a decision by the company owners and operating staff.

The company noted on its website:

The poker site said that the problems emerged on 11th February.

At the time, Seals With Clubs reported an unspecified hardware failure on Twitter, and despite assurances it would come back online, Seals With Clubs said it was forced to remain closed.

The website has been processing cash outs and apologized to its customer base amid what it called “extended downtime” on 15th February.

Seals With Clubs did not elaborate on how long withdrawals will remain available, according to the notice, but claimed that its ability to offer withdrawals could be disrupted if its domain is seized or the operators’ ability to communicate is interrupted.

“Any unsigned or invalidly signed instructions by others should not be considered legitimate,” the notice read.

Seals With Clubs announced that, as part of the closure, some assets owned by the company will be transferred to chairman Bryan Micon in order to facilitate the creation of a new bitcoin poker platform based in Antigua.

The majority of those behind the site will not be involved with the future project, according to the notice. Micon alluded to the new poker platform dubbed SwC 2.0 in a Twitter post hours after the shutdown was announced.

The assets include a partially complete bitcoin poker software package that was previously intended to replace the original Seals With Clubs platform. Other assets, such as the site’s main domain space, social media and email accounts, will be retained in order to facilitate customer withdrawals.

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