Cobinhood cryptocurrency suddenly cuts its service

Without warning, Cobinhood announced the closure of its service for 30 days. Customers of theexchange Taiwanese currently no longer have access to their digital coins deposited on the platform.

Yesterday, the cryptocurrency exchange platform Cobinhood has warned its users that it is "closing its doors and checking account balances from January 10 to February 9, 2020 to reopen February 10, 2020".

“All users of Cobinhood can then recover their funds accordingly. Please do not make deposits; this can result in permanent loss, ” added the exchanger.

Founded in 2017 in Taiwan, Cobinhood raised $ 12.8 million in its native token COB. An ICO notably supported by the American actor Jamie Foxx.

Last year, the crypto-scholarship was already starting to show signs of weakness, suspending service several times.

In April 2019, Cobinhood also hosted the $ 3 million ICO of its subsidiary Dexon Foundation. Shortly after, its leaders sold large quantities of DXN tokens and Dexon Foundation filed for bankruptcy, leaving investors on the straw FinanceMagnates.

In May, the CEO-founder of Cobinhood, Popo Chen claimed that despite "some media making assumptions about the company's planning for a scam, it was not a exit scam ".

It is not clear whether the stock market intends to reopen completely or only let its clients withdraw their assets from the platform.