Polish Cryptocurrency Exchange Shuts Down Overnight, Taking Funds With It

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.

"But it is definitely a lot of cash."

"Coinroom registered as a business in 2016 and a year later opened its website. Clients could deposit, buy, and sell cryptocurrencies. They could also exchange cryptocurrency for fiat," wrote Marcin Łukasik on Money.

"In April users received an email that told them that their accounts would be closed. They had one day to get their cash out. In order to do this they had to contact the exchange admins directly. Everything was laid out in the terms of service the users signed."

The exchange closed the next day and users who did not follow the proper procedure - one laid out by the exchange itself - lost their assets.

One Coinroom client found that Wiewióra opened a business in Estonia after leaving Poland.

Users also believe that the company ran afoul of the KNF, the Polish economic authority.

Ukasik noted that the same thing happened to another exchange, Bitmarket24, resulting in an overnight closure.

"There are some very interesting indicators that the cryptocurrencies were taken out and moved to other exchanges a few days before the shutdown," he said.