A Polish cryptocurrency exchanged called Coinroom shut down on April 2, 2019, taking numerous client accounts worth up to $15,000. The website is presently down and there is no way to get in touch with the creators.
“We don’t know how much they took,” said one user named Maciej. “But it is definitely a lot of cash.”
Polish information site Money.pl first uncovered the departure fraud on May 31.
“Coinroom registered as a business in 2016 and a year later opened its website. Clients could deposit, buy, and sell cryptocurrencies. They could also exchange cryptocurrency for fiat,” composed Marcin Łukasik on Money.pl. “In April users received an email that told them that their accounts would be closed. They had one day to get their cash out. In order to do this, they had to contact the exchange admins directly. Everything was laid out in the terms of service the users signed.”
The exchange shut the following day and users who did not comply with the proper treatment– one laid out by the exchange itself– lost their possessions.
The owners vanished and also the president, Tomasz Zbigniew Wiewióra, was not available to respond to concerns regarding the exit fraud. One Coinroom client located that Wiewióra opened a service in Estonia after leaving Poland. Users likewise believe that the firm contravened of the KNF, the Polish financial authority. Łukasik noted that the exact same point occurred to another exchange, Bitmarket24, leading to an overnight closure.
One former user thinks the cash is long gone.
“There are some very interesting indicators that the cryptocurrencies were taken out and moved to other exchanges a few days before the shutdown,” he said. “On the blockchain nothing disappears.”