Polish Cryptocurrency Exchange Coinroom Exit Scams With Customer Funds

By CCN: Coinroom, one of the largest cryptocurrency exchanges in Poland, has suddenly closed down its services in April as part of an exit scam that had left thousands of customers as victims.

According to the Polish media outlet Money.pl, Coinroom customers received an email on April 2 stating that the cryptocurrency exchange is terminating their contracts and they have one day to withdraw their funds. Failing to do so within that time would force users to request withdrawals by sending an email directly to the Coinroom support team.

Coinroom had the right to deal with withdrawals this way as the process was described in the user agreement customers had accepted when they created an account at the crypto exchange.

Coinroom suddenly vanishes

The cryptocurrency exchange failed to return the deposits of numerous customers while others had received only a part of the funds they were storing in their Coinroom wallets.

Later on, Coinroom stopped responding to withdrawal requests and closed down its website, which completely disappeared from the public domain. Simultaneously, the cryptocurrency exchange deleted all of its social media handles. Coinroom’s phone number stopped working as well.

Even though he promised a resolution for the stuck deposits by April 19, customers were unable to get in contact or find any contact information for Tomasz Zbigniew Wiewior, the director of the company. According to a victim, Wiewior formed another company in Estonia, but it is unclear whether the director had left Poland to move to the Baltic country as well.

Coinroom

Coinroom’s website simply redirects to an admin page. | Source: Shutterstock

While the exact losses of the victims remain unclear, the deposits of the testifying customers ranged between PLN 300 ($79) and PLN 60,000 ($15,660), the Polish media outlet reported.

One user stated that Coinroom failed to refund his 2.005 BTC deposit even after the customer received a withdrawal confirmation from the exchange on April 3.

Infuriated…

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