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Coinroom Exchange Shuts Down and Leaves with Customers’ Crypto



According to sources from news outlet, a Polish cryptocurrency exchange known as Coinroom has shut down abruptly and disappeared with all its customers’ funds in tow.

The Polish exchange, first registered in 2016, has even deleted its Twitter page.

Coinroom Shuts Down

The news outlet reportedly received an email from one of the exchange’s customers who said that the exchange ceased operations overnight and disappeared with all the funds in April. Though the exact amount stolen isn’t yet known, many customers reported having over $15,000 worth of cryptocurrency in their account.

Before culling the exchange, Coinroom had reportedly sent emails to its customers regarding contract terminations. It gave them only one day to withdraw their money, which was in accordance with regulations the exchange signed with users.

However, reportedly, the exchange returned only part of the funds to some customers, while many others didn’t receive any of their funds back at all.

One customer reportedly lost 2.005 Bitcoins, which values over $16,000 USD at current prices.

Another user said the following:

“[O]n the second day after sending the e-mail, I went to the Coinroom headquarters. The lady at the reception did not want to let me in, she claimed that nobody was in the office. Instead, she called someone from the company. I was asked to leave my details. Nobody contacted me.”

The issue is now being investigated by the District Prosecutor’s Office in Warsaw. According to sources here, the office has begun “proceedings against Coinroom in connection with unauthorized activities providing payment services that intermediates in the exchange of cryptocurrencies.”

>> Bitcoin (BTC) Price Falls Below $8,000 On Panic Selling

Cryptocurrency Scams

Scams within the cryptosphere have become all too common. As cryptocurrencies gain mainstream traction, it is inevitable that more opportunities to be hacked will appear. In the past two years alone, several scams and exchange hackings have amounted to millions of dollars worth of cryptocurrency being stolen.

Recently, in early May, the NYPD announced a Bitcoin scam whereby callers were impersonating government officials and requesting payments in Bitcoin. In this case, scammers pretended to be from the Social Security Administration (SSA) and even went as far as manipulating their caller IDs to show SSA numbers.

Featured Image: DepositPhotos © vlastas

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