Polish Exchange Coinroom Shuts Down and Disappears with Users' Money
Main page News, Cryptocurrency Exchanges

The local publication money.pl reported on May 31 that the Polish crypto exchange Coinroom had ceased its operations and disappeared with the users' money.

The publication was informed about the event by one of its readers, who sent it an email stating that Coinroom, a crypto exchange founded in 2016, had ceased its operations overnight and disappeared with its users' funds in April.

Some users had as much as $16,000 on their accounts.

The cryptocurrency trading platform had reportedly sent its users an email to inform them about the suspension of its operations and to let them know that they had just one day to withdraw their funds. However, some users claim they have only received part of their money, while most assure they have receive nothing.

Why it is important

  • Unfortunately, this is not the first time a crypto trading platform shuts down and leaves its users without access to their funds. For example, back in 2014, Mt. Gox, the largest crypto exchange in that time, ceased its operations as a result of a hacker attack. And in February this year, Canada-based crypto exchange QuadrigaCX also became offline after the unexpected death of its CEO.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error