The Battle for Graxia Forums have word that Petroglyph is pulling the plug on this MOBA on June 27th, just a couple of months after it went live (thanks Massively, who spotted this more than a week after it was posted). They speak of the pleasure they've had working on the game and how much they have learned, but offer no concrete explanation for the closure, though it seems safe to assume it relates to the game's success, or lack thereof. They are reserving the right to relaunch the game, but in the meantime are no longer accepting payments as they plan to recompense players for expenditures battling for Graxia. Here's word:

We have decided to take BFG offline effective June 27, 2013. Effective immediately, we will no longer accept payment for the purchase of Petroglyph coins. As a way of saying thanks to our supporters, anyone that has previously purchased Petroglyph coins in BFG will receive a bonus of Petroglyph coins (in our sole and absolute discretion) in the next 24 hours to spend on anything in the store. Then, at midnight (PST) of June 27, 2013, the BFG servers will be closed down and there will no longer be any access to the game. We reserve the right to bring BFG back online at some time and hope to do so in the future.