Coinexchange.io exit scam or fund issue ?

[confreslamp]

They are just shutting down, because of the lack of interest of traders. Without traders, there is no commission fees and as a result no profit. However, they are not scammers, because they are giving people time to withdrawal their assets before the deadline.

[dark08]

This is not consider an exit scam because coinexchange notice people to their shutdown meaning people will have an opportunity to withdraw their fund before the closure on this exchange site main reason I see why they shuting down their exchange site because of low volume and lack of interest of the trader.

[X-ray]

Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.

They clearly mentioned why they are going to close their exchange so how can we consider this an exit scam?

They even gave time to withdraw your coins so if anyone have funds urge to your account and move funds ASAP.

It's a usual exchange closing down due to lacking the profit to keep up their services, the title of this topic already has its own answer which is fund issue and there's no way an exit scam letting people withdrawing their money but if there's any news regarding problem about withdrawal it may turn into an exit scam.
The competition is kinda tough considering so many exchanges have popped out lately and this one seem couldn't hold any longer. as I see hosting IEO is one of main earning for a newly made exchange with relatively low users. if OP still not sure just keep a watch about this one site and see whether there's someone complaining about the withdrawal.

[judeafante]

CoinExchange exchange has declared it will close during this time over money related troubles it has been confronting, if you have coins or tokens on this exchange now is your chance to withdraw them before its too late, users have till October 15 deadline, the exchange pass this message through mail and it says

Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.

I don't know if this is an exit scam like the rest or just a normal fund issue that makes them want to close down but if its an exit scam users won't be able to withdraw their funds right?

If it is an exit scam they will just disable withdrawal, without an announcement, this is not fair, they want to go without giving investors and traders problems you should change your title, there is no scam that's going to happen because they want all their investors to withdraw all their coins, because they of a valid reason which is they are closing shop.

[AjithBtc]

This is not consider an exit scam because coinexchange notice people to their shutdown meaning people will have an opportunity to withdraw their fund before the closure on this exchange site main reason I see why they shuting down their exchange site because of low volume and lack of interest of the trader.

There is proper notification provided to each and every user who have been into coinexchange for all the trading needs. Upon the perfect information provided this doesn't look like an exit scam, but there is some plan to closure the exchange service. Also they've provided a long time period to withdraw the funds from the exchange wallet which makes the reason to be legitimate in other way.

[Doranile432]

Its not a scam exit, many have already withdrawn their funds successfully off the exchange with no problem at all but if there are still those who haven't do the same the time it ticking, once the deadline gets here its over, if this is a scam exist there will not a enough time for users to withdraw funds

[Emperor of Man]

It sure doesn't look like an exit scam, just withdraw everything you have over there, and you will be fine.

And I must say, with all the bear market and decreased volume and liquidity and all that, it's not very strange for an unpopular exchange to say this is not a profitable business for us.

[Falconer]

CoinExchange exchange has declared it will close during this time over money related troubles it has been confronting, if you have coins or tokens on this exchange now is your chance to withdraw them before its too late, users have till October 15 deadline, the exchange pass this message through mail and it says

Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.

I don't know if this is an exit scam like the rest or just a normal fund issue that makes them want to close down but if its an exit scam users won't be able to withdraw their funds right?

What is the reason you are accusing as a scam, the e-mail quote above already explains why they closed the exchange service and gave instructions to users to withdraw coins before the deadline.

[jorenpo]

I don't think its an exit scam. they announced that they will closed the exchange and you need to withdraw the token or coins you have on them, maybe its an inside issue of maintenance issue as theres not a lot of traders trading to them.

[coin-investor]

CoinExchange exchange has declared it will close during this time over money related troubles it has been confronting, if you have coins or tokens on this exchange now is your chance to withdraw them before its too late, users have till October 15 deadline, the exchange pass this message through mail and it says

Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.

I don't know if this is an exit scam like the rest or just a normal fund issue that makes them want to close down but if its an exit scam users won't be able to withdraw their funds right?

It's unfair to connect Coinexchange to scam, maybe fund issue, the title is all wrong and people might think that they are going to close because of scam issue, they have done the right thing announcing it in their newsletter and all their social media profiles, they even extend the days for members to withdraw their coins.

[magneto]

CoinExchange exchange has declared it will close during this time over money related troubles it has been confronting, if you have coins or tokens on this exchange now is your chance to withdraw them before its too late, users have till October 15 deadline, the exchange pass this message through mail and it says

Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.

I don't know if this is an exit scam like the rest or just a normal fund issue that makes them want to close down but if its an exit scam users won't be able to withdraw their funds right?

There could be liquidity issues that forced them to close their doors, but until someone actually complains that they have not been made whole in this whole situation, it's indeed unfair to call them an exit scam.

After all, they've announced their intentions to close the exchange well in advance. It's not like it's coming as a surprise to anyone else.

But for people who still have a balance on this exchange, it would be stupid not to withdraw it straight away. From my experience from previous exchange closures, the longer you wait, the more risk your funds are going to be at. Especially when withdrawals stop being processed automatically.

[Ferris419]

Coinexchange was far better than many high ranking fake volume exchanges. But it was a very underrated, there wasn't any scam accusation or negative vibes on Coinexchange. The exchange team easily could scam people, but they are legit and they are real human beings. That's why they gave a long time to withdraw funds from its member dashboard! Actually, Coinexchange wasn't in the profit zone, so, without profit, no one will continue business in any sector. I hope one-day Coinexchange will come again when the crypto market becomes better than now!

[milewilda]

CoinExchange exchange has declared it will close during this time over money related troubles it has been confronting, if you have coins or tokens on this exchange now is your chance to withdraw them before its too late, users have till October 15 deadline, the exchange pass this message through mail and it says

Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.

I don't know if this is an exit scam like the rest or just a normal fund issue that makes them want to close down but if its an exit scam users won't be able to withdraw their funds right?

What is the reason you are accusing as a scam, the e-mail quote above already explains why they closed the exchange service and gave instructions to users to withdraw coins before the deadline.

Some people do really have some loading or slow comprehension or just simply doesnt know how to read up on whats the actual reason why Coinexchange plans to close its doors.
Its clearly stated that their operation isnt already feasible on their side which means they are not already profitable to run even longer.The good here is that they are refunding their users so that ever they close up their exchange there would be no issues on their side or no one would sue them up.Hopefully that all exchangers should be like this where closing its doors without forgetting to return their users funds.

[Zich]

I hope OP can change this thread subject as it could be misleading and make some of users feel uneasy.
It's very clear from the announcement on the website that they asking users to stop Depositing and start to withdraw their asset.
Running exchange is hard if no volume. No volume mean no income from trading fee, not to mention the listing fee might cheap too.

[CjMapope]

CoinExchange exchange has declared it will close during this time over money related troubles it has been confronting, if you have coins or tokens on this exchange now is your chance to withdraw them before its too late, users have till October 15 deadline, the exchange pass this message through mail and it says

Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.

I don't know if this is an exit scam like the rest or just a normal fund issue that makes them want to close down but if its an exit scam users won't be able to withdraw their funds right?

if i had to guess they are insolvent, probably from a hacking they dont wanna admit
basically pulling a Cryptsy
Atleast, unlike Cryptsy, they are just folding, instead of trying to run on a fractional reserve
Another exchange down

[supto005]

You should change your title because coinexchange.io is not a scam project. If they tried to cheat they would not have told in advance that they will shut down their website. They have givens us two months to transfer our money from coinexchange.io. They are shutting down their websites because of the low volume.

[Taskford]

CoinExchange exchange has declared it will close during this time over money related troubles it has been confronting, if you have coins or tokens on this exchange now is your chance to withdraw them before its too late, users have till October 15 deadline, the exchange pass this message through mail and it says

Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.

I don't know if this is an exit scam like the rest or just a normal fund issue that makes them want to close down but if its an exit scam users won't be able to withdraw their funds right?

What is the reason you are accusing as a scam, the e-mail quote above already explains why they closed the exchange service and gave instructions to users to withdraw coins before the deadline.

Some people do really have some loading or slow comprehension or just simply doesnt know how to read up on whats the actual reason why Coinexchange plans to close its doors.
Its clearly stated that their operation isnt already feasible on their side which means they are not already profitable to run even longer.The good here is that they are refunding their users so that ever they close up their exchange there would be no issues on their side or no one would sue them up.Hopefully that all exchangers should be like this where closing its doors without forgetting to return their users funds.

Actually I think they are force to lower down there listing fee so that they can survive but sadly they still failed to lift up there financial status since they still didn't get more profits and volume to make there exchange go healthy again, But really it's a good thing for them to let there remaining traders to withdraw there funds since it brings good stand on crypto world since If they select to scam user for sure it will create another bad reputation on other exchangers in crypto space.

[bitcoinmuseum]

  In these days, i have seen a lot of exit scam exchange but coinexchange is different than others. They announced honestly to their members to withdraw the funds several time with e-mail.

  This is coinexchange's official announcement.


  

[bitgov]

  In these days, i have seen a lot of exit scam exchange but coinexchange is different that others. They announced their members to withdraw the funds several time with e-mail.

  This is coinexchange's official announcement.


   

In announcement is clearly stated that only trading and deposits will be suspended on 15th October. Everyone can withdraw funds till 1st December - probably untill this date they have been paid for security system and website support.

I'm sorry they have to close down, but that's definitely not exit scam.

[royalfestus]

we have had so many exchanges closing down and a large percentage of those still functioning could join soon. There are rumors that all japan exchanges are planning to close down few months, if not the support that just came. I dont support any exit move from any cryto project, they cant be trusted at all. I like to know if they will come back if market get healthy?