Cobinhood exchange - Exit Scammed it Seems

in scam •  3 months ago 

Cobinhood used to be a good exchange last year as they had huge differences for arbitrage. At some point they started removing pretty much all tokens and exchanges like Bibox and Bitforex got new traction due to them.

At some point they had hardly any market pairs so pretty much almost everyone quit using them.

They came with IEO/ICO - Dexon where they got 3 millions USD. Today after tokens were unlocked came insta dump of the token and their native exchange token - COB.

Now nobody can login to exchange (2FA is not coming) and they filled for liquidation.

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Removed from anonymous bitcoin exchanges list.

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Guess this is exactly why I NEVER keep any funds on, especially shaky, exchanges. I bought an ETH worth of COB in the good old days of 2017. But after using their beta, on their exchange, I knew they wouldn't go anywhere. I immediately sold all of my COB and never looked back. I agree, their trading pairs were slow and liquidity was awful. I can see how arbitrage would of been profitable there. Sorry to anyone left holding bags of COB....

right chose!

I consider myself very lucky!

Wow, lucky I didn't use it since it is quite troublesome to use their fees.

Posted using Partiko Android

there was some real bargains there in 2018 of 10-30% but im sure most people took cash out since there was nothing left to trade really

Another exit scam and people never learn!

Posted using Partiko Android

Gosh these exchanges are falling like flies, clearly didn't account for such a long crypto winter and were eating into funds waiting for the reversal so why not pull an exit scam right before you go up in flames

Never ever invest in scammy projects without any background checking.