Crypto exchange Coinroom disappears with customers funds, Website Offline

[Fred3030]

This incidence is really disheartening, I still find it difficult to understand why a crypto exchange should disappear with users users funds. With these incessant cases of crypto fraud either through hacks of exchanges or through exit scam, I think is time for some regulation in this space especially in respect to crypto exchange as they seem to hold large funds belonging to numerous users. On a final note, I would love to advice people to trade in exchanges with well know Team.

[BitcoinPanther]

This is a sad news, people belief especially those who are hesitant about Bitcoin to gear towards negativity about cryptocurrency.  Though case like this also  happen to fiat currency, this event will have a more negative impact to the cryptocurrency adoption since people will think twice before diving into cryptocurrency investment because of such scam.

[Nolimitz84]

I can't understand one thing.In the European Union, everything is clearly regulated and controlled.How do crooks get away with it?Or is the control system ineffective?So then why do we need KYC,everyone's talking about...

[coin-investor]

That is such a big amount, authorities should be alerted so they can start hunting these people and charged, exchanged are more compliant than ICO, so there should be charges to be filed but I'm sure it will not have a big impact on the market as this is considered a local exchange.

[Vishnu.Reang]

This is not the first exist scam in the crypto-exchange sector, and definitely this is not going to be the last one. On top of that, most of the crypto-currency exchanges located in Eastern Europe are having a shady reputation. The users should have taken the necessary precautions by not keeping their coins in the exchange wallet.

[Artemis3]

Polish crypto exchange Coinroom has disappeared along with customers' funds. Their website and all social channels are MIA as well. Ciphertrace reported that in Q1 of 2019, over 356 million dollars from cryto exchanges were stolen which were all visible losses. However in this case the total amount of funds remain unknown which ultimately means that there are even bigger losses at hand than just the 365 million which is insane.

I am really disappointed to have to keep hearing about these types of exit scams. What do we do?

Yet another exit scam... In my opinion these should be treated the same as "hackers" stealing coin, ie: share all their addresses and blacklist them immediately. All other exchanges and mixers should cooperate. Until the community organizes and gets ready, these things will keep occurring.

[Ibizugbe1]

I don't like projects and exchanges from that part of the world. I can only leave some good money on exchanges with a trusted team and from a region that has good business trust.  Keeping fund in ones private wallet remains the best option.

[teddyelwyn]

I think there is a few things that all of us could do. First is majorly education and teaching users about how to properly store their funds and why keeping them on exchanges might not be the best way. The second being the need for compliance on the exchange's end. Firms like Ciphertrace are set in place to project any signs of money laundering or suspicious activities. Just like a bank would be able to notify you for any signs of fraudulent activity.

[dothebeats]

I can't even fathom how these exchange operators manage to get out in the wild without being traced after they vanish. For the most part, they must have been registered as a form of business/service on the country that they operate in, but then we still don't see anyone being nabbed on these grand exit scams apart from a few known people. Heck, up to now we don't even see any progress for dozens of crypto exchanges case. It's just sad that regulations are heading towards 'consumer protection' but doesn't seem to protect people in the event of such scams.

[Linkkoin]

I can't even fathom how these exchange operators manage to get out in the wild without being traced after they vanish. For the most part, they must have been registered as a form of business/service on the country that they operate in, but then we still don't see anyone being nabbed on these grand exit scams apart from a few known people. Heck, up to now we don't even see any progress for dozens of crypto exchanges case. It's just sad that regulations are heading towards 'consumer protection' but doesn't seem to protect people in the event of such scams.

Yes, this company is registered at Polish KRS, its CEO name is known, the share owner name is known as well.

[kryptqnick]

Polish crypto exchange Coinroom has disappeared along with customers' funds. Their website and all social channels are MIA as well. Ciphertrace reported that in Q1 of 2019, over 356 million dollars from cryto exchanges were stolen which were all visible losses. However in this case the total amount of funds remain unknown which ultimately means that there are even bigger losses at hand than just the 365 million which is insane.

I am really disappointed to have to keep hearing about these types of exit scams. What do we do?


https://www.thecryptoupdates.com/crypto-exchange-coinroom-disappears-with-customers-funds-website-offline/

This is sad news! Was this exchange a popular one in Poland? Was it registered or regulated in any way? Are the owners at least publicly known? I think the users should file complaints to the officials (police or something) for cyber-robbery. Perhaps there's still a way to make the owners take responsibility. Poland is in EU, so I think there at least should be a way to make those people criminals and look for them. I am sorry that people lost money there... So sad that it happens quite regularly. I believe it's a good time to recall that exchanges are never a good place to hold money and that it's worth to check the recent reviews right before using an exchange. I was once scammed in a similar way as well, so now I am very cautious.

[maldini]

I am also concerned about the victims of the scam acquisition. Scam is the biggest problem for the crypto market since the past, even investor interest in the ICO has declined in 2018 due to the large number of scammers. Actually we need a platform that can handle scammers or a crypto police where all new crypto platforms have to do this crypto police, hopefully there are platforms like this to reduce scammers.

[Chicky213]

This is very annoying and heart breaking. These guys should be tracked and should be apprehended. That region is not trusted at all, I don't just leave my funds in any kind of exchange cause thid kind of issues. I feel BD for people who lost their funds.

[Lanatsa]

Polish crypto exchange Coinroom has disappeared along with customers' funds. Their website and all social channels are MIA as well. Ciphertrace reported that in Q1 of 2019, over 356 million dollars from cryto exchanges were stolen which were all visible losses. However in this case the total amount of funds remain unknown which ultimately means that there are even bigger losses at hand than just the 365 million which is insane.

I am really disappointed to have to keep hearing about these types of exit scams. What do we do?


https://www.thecryptoupdates.com/crypto-exchange-coinroom-disappears-with-customers-funds-website-offline/

This is sad news! Was this exchange a popular one in Poland? Was it registered or regulated in any way? Are the owners at least publicly known? I think the users should file complaints to the officials (police or something) for cyber-robbery. Perhaps there's still a way to make the owners take responsibility. Poland is in EU, so I think there at least should be a way to make those people criminals and look for them. I am sorry that people lost money there... So sad that it happens quite regularly. I believe it's a good time to recall that exchanges are never a good place to hold money and that it's worth to check the recent reviews right before using an exchange. I was once scammed in a similar way as well, so now I am very cautious.

Possibly that they would still able to sue the company on this issue.If this do happen locally then there would be a chance to locate these scammers.

People do always been advised for a thousand times that never ever store your coins on an exchange yet these things are prone to hacks and scam by owner itself.

Sorry for those people who lost up money on this situation.

[CoinCollect]

It is a shame that the scammers in all ways trying to steal other people's money. This is very spoils the reputation of the crypto currency. I really hope it stops someday.