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Home Scams Coinroom's exit-scam? Exchange disappeared with customers' funds

Coinroom’s exit-scam? Exchange disappeared with customers’ funds

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There are reports that the Polish crypto exchange Coinroom has disappeared along with the clients’ funds. The official website of the exchange is now offline. In addition, the exchange removes all its links and channels in social networks.

Coinroom began to work in 2016. Since then, it has become a well-known cryptocurrency exchange, which operated in Poland.

However, in April, the Polish company unexpectedly ceased to provide its services, it notified its customers by email about that on April 2. Then the exchange announced that it would terminate all its contracts. The exchange also asked customers to withdraw all their funds from their accounts within 24 hours. However, at the same time it was said that if customers could not do this, they would have to contact the company on this issue.

It is noteworthy that such rules were included in the user agreement of the Polish Exchange. When customers opened accounts on this exchange, they had to sign the relevant agreements.

The total amount of the remaining funds is still unknown.

So far, only some of the Coinroom customers have withdrawn their funds, and everything else should be regarded as prey to fraudsters, if this was really intended as an exit-scam.

According to reports, customers who have left the exchange from 300 to 60 000 zlotys, are ready to testify against the owners of the company. (300 zł is about $ 80).

According to CipherTrace, in the first quarter of 2019, $ 356 million (but possibly more) from crypto exchanges and related infrastructures fell into the hands of criminals. It is interesting that the affected parties themselves concealed most of the losses – apparently, in order not to create panic and not to spoil their image.

Victims share their annoyances on the forums

In various crypto-forums, victims of such a scam share their grievances and hope that their case will be resolved in a fair way.

For example, one user says that when he heard the news about the closure of the Coinroom, he tried to withdraw money. However, despite the fact that he received confirmation from the company that had his 2,005 bitcoins, he was unable to receive them.

There are reports that there are many victims, and it is rumored that the Coinroom exchange only appeared to rob clients in this way.

Last year, the crypto industry was hit hard by the bear market, with the result that many companies ceased their business. For example, this happened to Coindelta, Indian crypto exchange, which stopped its work at the end of March 2019 due to regulatory ambiguities in this country.

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