COBINHOOD Founder, Mr. Tai-yuan (Popo) Chen, who previously was fired from COBINHOOD due to 'emotional instability and personal behaviors,' has said via official Cobinhood account on Medium that the recent news regarding the possible exit scam was fake and the company didn’t file bankruptcy either.
"The incidents happened to us were more complicated and unfortunate. However, I and our team has been working literally around the clock to keep our products in operation, and to protect the legit rights of our token holders and supporters," wrote Chen.
Moreover, Chen decided to highlight some key points to clarify the situation around the exchange:
- DEXON Foundation and COBINHOOD Exchange both have been functional;
- There was no exit scam;
- There was no dump of DXN tokens. DEXON Foundation, the co-founders and our team members still have all of our DXN tokens;
- The value of DXN token has been shrinking massively because of what happened.
In addition to that, Chen reported that institutional investors accused him financial misconduct in a board meeting of Blocktopia, Inc. Since it was misled by false info he "agreed to cooperate with any legal investigation."
Earlier this year, it was reported that cryptocurrency exchange with no trading fees COBINHOOD would reduce its team size to 30 people amid rumors of exit scam that appeared after its parent company Cobbingham Digital Finance Co. Ltd. filed for bankruptcy
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