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Coinroom Crypto Exchange Ceases Operation And Disappears With Customer Funds.

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Last updated on September 6th, 2019 at 10:16 am

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Polish cryptocurrency exchange Coinroom shuts down operations, and disappears with customer funds, reports on May 31.

Some customers had reported loss of funds due to the disappearance of the exchange. received an email from one of its subscribers. The subscriber reports that Coinroom had suddenly ceased operations and disappeared w it there customer funds since April.

Prior to its shut down, reports that Coinroom had sent emails to its customers, containing information about contract terminations. Users had only one day to withdraw their money, which was in accordance with Coinroom regulations signed by users. However, some users claimed that they got a part of their withdrawal request while some others did get theirs in full. Some uses claim they had up to 60,000 zloty worth around $15,790 before the shutdown since it began operations in 2016.

Łukasz Łapczyński the District Prosecutor in Warsaw, reports that they had filed up charges against Coinroom in connection with unauthorized activities. Amongst the charges includes offering payment services, serving as a medium for exchange of cryptocurrency.

“We conduct activities aimed at identifying possibly other victims. At the moment too early for information on the value of possible losses. Due to the goodness of the conducted proceedings, we do not inform about the implemented and planned activities, as well as the arrangements made at this stage of the proceedings”

– he added.

One of the exchange’s customers,

Mr Tomasz told that he had lost 2.005 bitcoins. A user had also complained that he went to the Coinroom headquarters. The lady at the reception had refused to let him in claiming nobody was at the office. The lady had called up another individual whom he left his contacts with. But since after my visit it t nobody had contacted me he complained.

The company’s twitter page has also seemingly been deleted. Moreso, the exchange coinmarketcap details had been removed. The phone on the website is not going through. No way to get in contact with the company again said one of its users. There are also traces that the cryptocurrency had been sold in other exchanges before sending out mails said Mr Tomasz.

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