Cobinhood exchange is shutting down

[kingsbtc 910]

Cobinhood exchange is shutting down so if you have fund there be careful.

This is the email I got from them now

 

Dear valued COBINHOOD user,  

 

Thank you for your continuous support for COBINHOOD Exchange during the past few years.

 

It is with the utmost regret that we make the difficult decision to shut down the COBINHOOD Exchange. We deeply apologize for any inconvenience caused.

 

COBINHOOD Exchange is auditing all accounts' balances and migrating all data from Jan 10 to Feb 9 in 2020. It will be re-opened on Feb 10, 2020. All COBINHOOD users can then retrieve their funds accordingly. 

Our refund team will send you an email regarding the refund process on Feb 10, 2020.  

 

Meanwhile, please DO NOT make any deposits; it may result in permanent loss.

 

If you have any questions regarding the refund, please contact:  

support@cobinhood-refund.com

 

Best Regards, 

 

COBINHOOD Exchange Team

[BTC Future 3946]

Wow! This exchange was all about hype back in 2017-18 and had really low numbers of actual people trading and almost zero liquidity. I've wasted some of my time with their promotions as well and got nothing in return. It was a terrible exchange imo.

Edited January 10, 2020 by BTC Future

[Pearls Before Swine 815]

4 hours ago, shayekh said:

On Feb 10, 2020, it is reopened.

No, you're the one making the mistake.  The exchange *is* shutting down, but they're freezing everyone's funds until February 10th.  And I seriously doubt anyone will be able to withdraw anything then or after.  This looks like an obvious exit scam to me.  There's absolutely no reason an exchange would just shut down and freeze their customers' coins.  Unfortunately we've seen exchanges do this before.

[Investors Blog 385]

Another one bite the dust, After exorbitant fees and yet they still go bankrupt. Probably this is just another exit scam and they are not liquid enough to honor customers withdrawals.

 

While here in yobit they continue to excel and improve. Yobit was my first exchange when i enter cypto last 2016 and they are going strong even after all the accusation made by other people.

[Rudro88 371]

I got some news from the Cobinhood Exchange site online then I also thought that Cobinhood Exchange site users are very few and that the currency is likely to be closed in that case so if closed, many users will actually leave Cobinhood and use another exchange site.

[sdsonjoy50 886]

It is a sad Cobinhood exchange for us to close, because the question remains as to whether the customers or users here will get their money back, I think if this exchanger goes away, then the customers should pay back their capital.

[tienda 8776]

I think not anybody or any company can support this adventure of cryptocurrency trade market, there are many competitor in this world digital, so if you dont have a lot of money to do the promotion for your websites exchange or your own crypto you will not stay doing this adventure.

[Rahul21 626]

Thanks for letting us know about this, because I wanted to invest in the cobinhood too so now if it were closed after investing I would have lost a lot.  So I also think that if the Cobinhood Exchange site is actually closed then those who invested in this site will suffer a lot.  So I feel good not to invest in it.

[Dolpharius 675]

there are moments of a fraudulent plan by manipulating the price of an asset, when the price is high, the withdrawal of funds is deliberately closed and opens when the correction begins.

[miskyming 1588]

too bad another exchange that closing down. It is good exchange because it has zero trading fee.. but I don't like their withdrawal processing because it takes 5 hours to complete the process.. I stopped using that exchange.

[Popedee 377]

On 1/10/2020 at 11:15 AM, kingsbtc said:

Cobinhood exchange is shutting down so if you have fund there be careful.

This is the email I got from them now

 

Dear valued COBINHOOD user,  

 

Thank you for your continuous support for COBINHOOD Exchange during the past few years.

 

It is with the utmost regret that we make the difficult decision to shut down the COBINHOOD Exchange. We deeply apologize for any inconvenience caused.

 

COBINHOOD Exchange is auditing all accounts' balances and migrating all data from Jan 10 to Feb 9 in 2020. It will be re-opened on Feb 10, 2020. All COBINHOOD users can then retrieve their funds accordingly. 

Our refund team will send you an email regarding the refund process on Feb 10, 2020.  

 

Meanwhile, please DO NOT make any deposits; it may result in permanent loss.

 

If you have any questions regarding the refund, please contact:  

support@cobinhood-refund.com

 

Best Regards, 

 

COBINHOOD Exchange Team

This exchange was so hyped but one of the many exchanges caught manipulating daily trade volumes just to attract new traders. Lies cannot stand forever. It's likely the exchange will increase withdrawal fees knowing you have no option than to withdraw your coins. One disadvantages of a centralized exchange

[Ssking93 51]

The exchange informed users that it had audited all budget and migrated data. Personally, I can see that the termination was a Coblinhood exchange, an error, the stock exchange was registered but based in Taiwan, Cayman Islands.

[Gg233 1061]

I don’t hear about that exchange and maybe the exchange is not profitable and they are almost out of fund that is why they closed it but hope no more exchange close.

[Sabba092 115]

On 1/10/2020 at 3:15 PM, kingsbtc said:

Cobinhood exchange is shutting down so if you have fund there be careful.

This is the email I got from them now

 

Dear valued COBINHOOD user,  

 

Thank you for your continuous support for COBINHOOD Exchange during the past few years.

 

It is with the utmost regret that we make the difficult decision to shut down the COBINHOOD Exchange. We deeply apologize for any inconvenience caused.

 

COBINHOOD Exchange is auditing all accounts' balances and migrating all data from Jan 10 to Feb 9 in 2020. It will be re-opened on Feb 10, 2020. All COBINHOOD users can then retrieve their funds accordingly. 

Our refund team will send you an email regarding the refund process on Feb 10, 2020.  

 

Meanwhile, please DO NOT make any deposits; it may result in permanent loss.

 

If you have any questions regarding the refund, please contact:  

support@cobinhood-refund.com

 

Best Regards, 

 

COBINHOOD Exchange Team

This is sad news guys. And it is depressing  guys. And a shame.

[Popedee 377]

6 hours ago, MAQ said:

There is no need to watch out for this problem, this is the official email from the exchange. they warned against depressions and a refund would be made too.

This is one reason we need to be more thankful to Yobit exchange. For an exchange to close down, it means the exchange isn't making profits but Yobit pays out over 2 Bitcoin daily supporting this forum for almost six months now. I'd rather continue trading on Yobit as it's campaign in this forum shows it's liquidity level

[nicolas1234789 2566]

This exchanges can't survive anymore, too many disturbing in their system and low transaction. Actually they have good progress but I see they don't try to push performance in high rank, no good news and event, so quiet. If they decide to close that the right decision, no more power and dedication in Cobinhood.

[dinabolt 514]

Until now I never use this exchanges, they have coin I want to trade but when see their performance I doubt they can give me good services. In every section ( value, volume and customer services ) they are weak and disappointing. Closing is better than still open but don't have customer.

[Kshashi 17]

Increasingly more market trades are shutting their tasks because of progressively furious challenge. Coin exchange used to encounter a similar thing as shutting its administration tasks since it couldn't accomplish more in light of assets. With extremely tight challenge in the digital currency showcase, a lot more may fall.

[gigabyteRTX 1583]

Well it's sad that there are exchange platforms that need to shut down their platform because of certain reasons and happenings, anyway thanks for this information to inform those using that exchange platform.

[Dolpharius 675]

On 11.02.2020 at 14:37, huyasdad08 said:

Having so many coins on the exchange with inactive wallets, Cobinhood sadly let us close, because the question remains whether the customer or the user is here.

Yes, the problem with inactive wallets always worried me, or those coins that were excluded from the menu for trading or withdrawing, you should always follow all the news so as not to get into a bad position.

[Whited35 15285]

Good news is they are giving the users' holdings back to them.Looking like the promising project at least they are running away by taking the money of the users as the owner of the IDAX exchange did before. Due to several factors exchange stops its service which is normal to understand. 

[bentayebsalah 2280]

It's a message about Cobinhood shutting down and shutting down, possibly because of government pressure and pressure or it went bankrupt

[Fedor00 74]

A lot of exchanges are shutting down recently and I don't really know the reasons for that. Becaude they still have a lot of users and a lot of volume on their platforms

[Honny143 13612]

Now a days so many exchange shut down due to low volume and liquidity, because no one exchange runs without capital so this exchange also low volume, I think this cobinhood good exchange but they can't do without investors they can't survive in crypto market, because so many trusted exchange available they give so many benefits.

[jamesvince 2389]

Why from last quarter of 2019 many small exchanges of crypto market are shut down their business activities whats the reason behind this is fear of regulation of crypto market or their exchanges are facing loss on their business.