Crytek posted an announcement on its official Facebook page stating that the developer will be gradually letting go of Warface on Xbox 360, which released on April 22, 2014, slating its end to the 1st of February next year.
Starting today, Warface will not be accepting any new players and no Warface Kredits can be purchased, but existing players can continue to play the game and spend any remaining Kredits that they already have until the game closes.
Either way, Crytek wishes the community well:
To all our Xbox 360 players, thank you for choosing to spend your time playing Warface – and we hope you'll become part of the vibrant community enjoying regular new content and Co-op and Versus action – subscription free – on PC.