Coinroom Exchange Shuts Down Its Operations & Disappear's With Its User Funds - Report.

Coinroom Exchange Shuts Down Its Operations & Disappear's With Its User Funds - Report.

2019-06-05 | Selina Mathew

Coinroom Exchange Shuts Down Its Operations & Disappear's With Its User Funds - Report.

In line with a recent report published by native reporting media outlet ‘money.pl’, renowned Polish based cryptocurrency exchange named ‘Coinroom’ has reportedly closed its operations and disappeared with its user funds.

Money.pl received a mail from one among its readers, who declared that Coinroom - which was registered earlier in 2016 - ceased its operations overnight and has disappeared with its users money in April. Some users added that they had up to around 60,000 zloty [about $15,790 USD] within their accounts.

Before ceasing its operations, Coinroom reportedly sent emails to its users, containing info regarding contract terminations. Coiroom users had only just one day to withdraw their money, that was in accordance with Coinroom rules as signed by the users. However, customers reportedly claim that a number of them got solely some part of the money, while most of them failed to receive their funds back at all.

One of the exchange’s customers told that he had lost a around 2 Bitcoins [BTC] [over $15,000 USD at the reporting time]. While another user declared that “on the 2nd day after sending the e-mail i visited the Coinroom headquarters. The lady at the reception didn’t let me in, she claimed that no-one was there at the office. Instead, she called somebody from the company. I was asked to submit my details But no one has since contacted me.”

Spokesman for the District Prosecutor's office in Warsaw named ‘Lukasz Lapczynski’ said that the office had initiated proceedings against Coinroom in reference to unauthorized activities providing payment services that intermediates within the exchange of cryptocurrencies. The office is additionally reportedly identifying other possible victims.

CoinMarketCap’s crypto market exchange index 'shows' that Coinroom has terminated its activities. The firm’s official Twitter page has also been deleted.

As reported earlier in May, blockchain startups RepuX and JoyToken 'reportedly' pulled a joint ICO [Initial Coin Offering] exit 'scam'. The firms reportedly ran their ICO promotions throughout March and April of last year, and got away with $4.7. Mln & $3.3 Mln, respectively.

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