Bitcoin Forum

Just for your information, you have 2 months to remove your founds.

https://www.coinexchange.io/news/post/85/

The business environment is all over is gradually becoming the survival of the fittest and its not anyone's fault. Even in the outside world, businesses that cannot survive either got taken over by a bigger one or just close down under any guise as it deem fit eventually life goes on. For a business in the crypto world, it further becomes more at risk because for the fact that you are small, does not mean you won't spend as much as the big site on security of your infrastructure because everyday, you are a subject of target from people all over the world and the its the volume of transactions on your platform you will get the funds to measure up to those challenges. Now for a platform that is relatively known, its a double jeopardy.

Its good they are announcing and giving a timeline to people to withdraw that funds, at least they are doing the right thing and no one is caught in the cross fire.

Thanks for sharing up the information and this should how exchangers do close its doors where they do give out window for its users to withdraw their funds.
2 months time is already sufficient or even 1 month will be considerable.Its just a wise move for coinexchange owners to close its doors yet their business isnt already feasible
nor making them any profits rather than on deciding to exit scam right away.Also, coinexchange should sent out this warning/announcement thru email on all of its users and in all possible communication mediums so that majority would be aware.

hmm interesting,one by one known exchange are closing.  From nova last week now coinexchange this is  the effect of long bear market.

Thanks for updating us mate.
I check my email and spam folder i dont see any notification from coinex. How did you get that information?

You can directly read up that notice when you surf out the exchange:
https://i.imgur.com/V08HoKn.png
A long bear market would really affect businesses out there,its no surprise!

Thanks, im not opening this site for long i just remember i still have balance there but only small amount.

Coinexchange need to send email notificatoion about this  update to users. since not all of the users is using it everyday.

As I remember Novaexchange is long time closed and been revive by I think the buyer but still it failed since provably the market condition hit them very hard.



Many business shutdown for that streak and still bear season occurs and hopefully we can get an uplift so that we can get back to the phase, I can't see any good position to trade so provably I will rest  for trading at this point.

Why are you intentionally calling it "founds" lol I mean is that a joke or something?

Its funny how just a few days ago there was this report that; 97% of S. Korean Crypto Exchanges ‘In Danger of Bankruptcy’ (http://www.businesskorea.co.kr/news/articleView.html?idxno=35025)

Now correct me if I am wrong, there is no information about the people behind Coinexchange.io, no one knows who the founder is, where the devs are from or anything like that. So could it be that since this shut down was for economical reasons - Coinexchange.io is (was) actually a South Korean exchange?

lol this is just a fun tidbit. I think, most small to mid-sized exchanges are in danger of bankruptcy no matter where they are.

For me, Coinexchange.io would forever be the place where I first bought / sold Equal token (https://equal.tech/) - which lead me to meet some amazing people from that Aussie team of devs and the people behind that token.

This is one among the exchange that I use for trading. Few of the tokens in my portfolio were listed only on these exchange. Now I need to get it converted to bitcoin and withdraw it. Quite often some exchanges give a statement that they're into bankruptcy and gonna close the exchange. I don't think this is true, they might have got some other plan of moving the investment.

Ups. Seems I used it before for buying some coins. Have to check it.
Thanks coinlocket$ for sharing it with bitcointalk community.

Are you sure the email was't sent to your spam? It's strange actually that an exchange is shutting down without giving announcement via email to their users as it iis important thing to announce. Even though they are announcing it via website and perhaps people already knew it from online media, but it's not enough.

looking here: https://coinmarketcap.com/exchanges/coinexchange/

it seems to me that they didn't have large volumes

they launched the exchange in 2016, which means that it is a exchange that is no more than 5 years old in this market and they are already closing.

Thanks for the heads up. Reminded me of the few tokens I had there.

Coinexchange team is from Australia also I think. You can ask the Equal dev to confirm.


Yup, they've been around for some time. I used to trade there but the high transaction fees and maybe high listing fees killed them. Newer exchanges with lower fees probably took away a lot of traders from them.

A sad news! This bear market is too difficult to spend, many people have to leave!

They are old but yet for several years they didn't get much volume maybe they failed on promotional aspect since they are been quite for long years and I think this closure on them is permanent since there is no note that they will comeback there operatio n but let see how future goes.

And if this market condition will continue most provably there will be another exchanger will follow.

They definitely have had very low volumes and that is the reason for their slowdeath ~ pun intended.



This is one of the biggest reasons for their failure. In a niche market where competition were/are popping up day and night, the least they should have done is double down on promotion. Whatever little effort they made were clearly not enough.


I have had the most amount of interaction with Silky from Equal team, and despite the fact that Equal were listed there on Coinexchange, it does not really mean that the exchange is from the country as that of Equal.. however, I've asked this question, awaiting reply now.

I could have forgotten my 0.05 BTC there if not of this thread.  The last time I checked coinexchange.io was way back 2018-03-26 to be exact.  I set my LNK sell order and forgot about this exchange until this thread poped up.  I checked and see my sell order were fulfilled way back year ago.

https://i.imgur.com/B26FpGA.png


 If I had not seen this thread, I could have lost that 0.054 BTC.  I withdrawn it and encounter no problems.  That amount of BTC is sitting idly for more than 1 year on that platform honestly I already forgotten about it.

https://i.imgur.com/Swdb1fL.png

 I am thankful to this thread but feel sorry to see an honest exchange to shutdown.

---

We all know that the market is survival of the fittest, and those who are able to adjust to its ever changing environment.  Popular exchanges are now hoarding all the coins that have a very huge volume and smaller exchanges are left with coins that has little to zero volume.  So it is not a surprised that this kind of event will happen.  It is either adapt or shutdown.  Sadly for Coinexchange it is a shutdown.

this is the favorite exchange for arbitrage trading, I still remember this exchange was very popular in 2017 because it provided a large profit.
very sorry that the current altcoin market situation has caused the exchange to raise their fees and some to close their exchanges.

I see many people opening new exchange, seeing some of the big exchange make fortune less than 1 year. Too many exchange mean the volume with divided among the exchanges which will make the volume on the exchange pretty small to almost zero. You will need to pay for exchange operational which over time if no profit made from trading fee, then be ready to closed the business.

They are popular back then since those erc20 tokens can easily listed there and I trade almost all of my altcoins earned way back before on coinexchange and by now provably they are hit so badly with market condition and the dying state of the ICO since I think they not getting any profits on them anymore that's why they choose to close down there operation due to financial reason as stated by them.

The site is lagging alot, it took me a whole lot of time before I could log in few days ago to withdraw my dogecoin from there,  I have lots of friends who made same complains about the lagging issues, they should kindly fix it asap,  and respond to their email

I already pulled out my funds a few days ago and even up to now i didnt experience any laggs or slow down on my end.
You basically do mean about their withdrawal process or talking about on sites loading or response time?
Neither which it do works fine for me.

I mean both,  as of this morning that he told me about the site lagging, it's very laggy in logging in,  but it seems they have rectified it,  perhaps there was much traffic

This exchange has been around for many years. I am even beginning to wonder what will become of these massive exchanges that are opening daily in the next 3 to 5 years

Them closing is actually pretty sad, it was a decent market for some lowcaps and a solid launch platform for upcoming tokens. Too bad they didnt keep trading open longer, could have made some more sweet deals on there. The people leaving in a hurry dumped so many coins at real low prices

thank you for sharing, I regret that the market will close, because the beginning I played airdrop the results of tokens that I got sold there, many memories there, ranging from wrong deposite, less withdrawal and still more, in my opinion the market is a market which is quite popular among airdrop hunters but it will disappear in time

how i can withdraw funds from coinexchange.io?

It just came to me that co in exchange.io are closed now! I missed the deadline of withdrawing the balance.  :'(

Any idea how to collect my bit coin balance from them now?  :'(

Sorry buddy, just count your losses. They gave people time to withdraw their funds thou i was not happy on the way it was done. Apparently most victims say that they were not even notified via email about the closure which is quite unprofessional.
The whole process looked hurried.

Here is the Announcement the made back then:


Source: https://bitcointalk.org/index.php?topic=5189124.0

Is there anyway other than emailing the tech support to try to get coins back?  I didn’t realize they closed down until last week.  I had a large amount of mooncoin on here and hate to lose it.  I emailed the tech support and it seems very scammish and not very professional.  Has anyone had any successes with getting coins back after the December deadline?

Nope. you no longer have the opportunity to contact them. they were really honest and give on-time information about going out of business and it was possible for everyone to have access and withdrawal funds. Okay, probably they could have given something longer period before closing, but I believe after one year, someone would come up and complain because of lost coins.
Sorry mate, but you must keep your coins in wallets with your control, not in exchange.

Aren't they legally forced to have people recover their funds afterwards?
I thought they had to be reachable for these kinds of things for another 10 years.

If not, all unclaimed coins are just... a sign-off bonus for the team?

This is the crypto universe bro, where certain service providers choose whatever the hell they want without having to worry about any legal matters  ;D

I've just realized this exchange has closed!

Had some coins left on the exchange but thankfully not of great value.

Quite disgusting behaviour that they didn't email users notifying of the closure. Should be considered fraud.
 
Is the identify of the people who ran the exchange known to anyone?

No team's info can be found about coinexchange on different companies' directories, even on their websites. So it's hard to find them really. The only info it provides is the exchange was based on Australia.

If I remember correctly, Coinexchange announced out of business long before closing. They give enough time to withdrawing to all his customers and there was no fraud because there were no problems with withdrawing money from there. they were ultimately fair, unlike Tradesatoshi, Cryptopia etc...
you probably had very little value there or some worthless altcoins, when you remembered to them a year after closing.

Just tried logging in to coinex.io / coinexchange.io
And realized they don't exist anymore.
I never got any memo. Because they never sent me one.
If anyone knows how to contact them, please get in touch with me.
I would like my crypto back.

Unfortunately that money is gone since they left no channels to contact support or withdraw the funds. There was a period where peope where allowed to withdraw their funds but it wasn't long enough.

You have always been advised never to leave you crypto assets in exchanges for a long time. This is one of the reasons why.