CobinHood said in a notice to users that it is auditing all account balances and migrating data, and will reopen on February 10, 2020. The exchange will then send an email to all users about the withdrawal process and then allow users to retrieve their balances. At the same time, CobinHood urged users not to make deposits. It is reported that the exchange is registered in the Cayman Islands, but is headquartered in Taiwan, China.
It is understood that at the beginning of last year, the exchange sold DEXON tokens of the parent company DEXON Foundation and raised US $ 3.5 million in less than a month. Later, the company filed for bankruptcy in May 2019. It was therefore questioned by investors as an "exit scam."