Bitcoin Forum

I have been verified on the Korean exchange coinbit.co.kr since August, on almost every coin or token the have a message stating that deposits are temporarily suspended and it has been like that for almost one year...

Does anyone here in the forum know anything about that exchange?

It's dead and i believe the operation of coinbit gets suspended by the authorities in south korea. you can try to track it from the activities that happened on its social media account and almost a year or even more and nothing happened with it. It can become a scam or it being stopped by the regulators. there are two possibilities.

It's better to ask their support system, so you know what is happening with the exchange.
But I wonder why you use that exchange because I think that the volume trading on that site is not big enough depends on the other exchange.
Or did you see that one of your tokens is only getting a list on that site? If yes, then I think you should move your token to the other wallet before it's too late because we don't know if the exchange still online or not.

It is actually #60 by adjusted volume on Coinmarketcap with some 40/50 million USD trades in the past 24 hours, i wouldn't say it's a dead exchange.


I was trying to deposit NXT since it is traded at a 5x premium since last summer and they also added AGI which is trading at 1.85$ while on other exchanges it's at 0.03$... BTW having most of their wallets closed for deposits I think the exchange is happily selling overpriced coins to their customers.

Thanks I will try to find a way to contact their support but I'm sure they will have some nice excuses for keeping their wallets closed.  ::)

It have been so long for you to wait then. There should be reasons why they are suspending the deposit. Or, maybe they are just collecting people's identity just to sell them to other party.

Actually registered myself to the exchange just for the AGI arbitrage, but sadly - as your thread stated; most alt coins deposits are disabled.
Keep us updated on the situation if you get any reply from their support.

I am not familiar with the exchange you mentioned but I have a similar experience with other exchange and I have to wait for more than three months to deposit and withdraw particular coins and most of the coins on that exchange were in the same situation.I just keep contacting the customer support to get the result when it will be possible to trade normally.

Didnt hear out about this exchange ever since.If they do disable deposits for 1 year then most probably this exchange might already closed but as you said above this do still have volume which means there are still people
who do trade up on this exchange.

Their twitter account is active https://twitter.com/coinbit_coinbit/ but their facebook isnt. Why not try to contact them? and do ask out about their issue and you might get some clarification.

They lately added BAT which is trading at 62500 KRW (~50 USD each  :o :o ). Of course deposits aren't allowed.  ::)