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Another Day, Another Crypto Exchange Folds


wry

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Posted

While the process began to unfold back in April, news of Polish exchange Coinroom hit the news wires today.

Apparently, this exchange didn't even pretend it got hacked or was a victim of external bad guys, the owners simply pulled the classic, Run Away with the CoinsTM approach.  At least they were "honest" about it.  According to the news story, the site's terms of service gave users 24 hours after being notified by email to request their funds or they would be lost to the site.  We all know what nightmares are in sites terms of service that we mindlessly click through, they took it to an extreme. 

Be advised, the former president of this company, Tomasz Zbigniew Wiewióra, has opened a new business in Estonia.

Anyway, hope no one had coins on this site, cuz they are gone.

So what do you think?  Is it better to run away with the coins this way - by having very restrictive terms of service that most users wont be able to meet - or do you prefer it when sites claim to have been "hacked" and have to close that way?

Link: https://www.coindesk.com/polish-cryptocurrency-exchange-shuts-down-overnight-taking-funds-with-it

Posted

lol  its neever good to run away with ccoins ... that is what i call or think others call a exit scam kinda thing... 

i like do like the fact they were honest about it... i mean  and least they even gave a chance for users to wd funds.... all be it was only 24 horus chance.. but better than no chance...

a lot of rypto sites we play at too in TOS say they can take the coin and never return it without any reason or whatnot as well... we all usually just accept that without thinking it will ever happen or we dont know about it........

its cray cray wordl we live in, but it is what it is i guess

Posted

Oh the exchange was called coinroom. Never heard of them since they are in poland and far from where I am.

I tend to use exchanges closer to where I am. I dont know I dont like to use exchanges which are a world away from me for some reason. I know they can just as well run off with the coins no matter if they are in the building right next to you but still.

"A polish cryptocurrency exchanged called Coinroom shut down on April 2, 2019, taking multiple customer accounts worth up to $15,000. The site is currently down and there is no way to contact the founders."

Posted

First of all the link has a white background colour looks weird so umm fix that 😛 and second of all i dont mind exchanges shutting down but if they shut down and dont return players their coins then i just want to find the owner and beat him up 😛

Posted
On 6/8/2019 at 3:45 PM, rdbase said:

Oh the exchange was called coinroom. Never heard of them since they are in poland and far from where I am.

I tend to use exchanges closer to where I am. I dont know I dont like to use exchanges which are a world away from me for some reason. I know they can just as well run off with the coins no matter if they are in the building right next to you but still.

"A polish cryptocurrency exchanged called Coinroom shut down on April 2, 2019, taking multiple customer accounts worth up to $15,000. The site is currently down and there is no way to contact the founders."

yeah a good rule of thumb is to i think only   use   sites   that    you have    actually   heard of right? at least    that kind of can be used as a thing to measure the stability...
if noone has heard of a site u wana sign up for, just pass on that... there should be a few that you know already or heard of.. stick with those

Posted

If a site says they were hacked, I won't feel angry with the site for my coins being lost, because I understand these things happen. I will be upset though. If a site simply shuts down, I will be super angry, because I would have basically been scammed.

Posted

LOL willialm i like the way you put that... it sucks if they  ᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎closed and took money of therws with them ... right? i meant wtf

Posted

While these scams remain unpunished, this will continue. Therefore, the best option for using the stock exchanges is depositing at the beginning of the session and paying at the end. Do not leave any coin in their wallet. Then, if they announce that their site is hacked, it will be true

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