You'll still be able to access and download your Vines, and the company promises to alert users before making any changes to the app or website. However, it appears that uploading new content will no longer be possible.
This news means Twitter is essentially killing Vine. The looping-video service already seen an exodus of high-profile creators and executives as it struggles to compete with the likes of Instagram and Snapchat. Vine may eventually be integrated within Twitter, just as some features of the company's other app Periscope has, but that's probably not a top concern of its parent company right now.
Twitter itself is in turmoil and is struggling to find profit amidst reports of internal struggles over whether to sell the company. Regardless of what eventually happens, it looks like time to bid goodbye to Vine, at least for now, and move on to another service.