Large Polish cryptocurrency exchange Coinroom committed an exit scam on thousands of users

Coinroom, the cryptocurrency exchange, committed an exit scam on thousands of its users.
It was reported users were informed via email that the exchange was stopping operations.

One of the largest cryptocurrency exchanges in Poland, Coinroom, without warning closed down its operations in April, which was said to have been as part of an exit scam. It saw thousands of users as victims to the theft.

It was reported by local press in Poland, Money.pl, Coinroom sent out an email to its customer base on April 2, detailing that the exchange was terminating their contracts. Users had apparently just one day to withdraw their funds they were warning. Noting that failing to do so within time would force users to request withdrawals of their funds via email directly to the support team of Coinroom.

The cryptocurrency exchange apparently had room to deal with the withdrawals in this way. All reportedly had been detailed within the customer agreements, which they had to accept when creating an account with Coinroom.

The exchange failed to return the deposits of many customers, in addition to users only receive a part of the funds they were storing in their Coinroom wallets. Further on, Coinroom stopped responding to email withdrawal request and their contact number stopped working.

Share: Cryptos feed

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.