COSS Exchange exit/drama keeps going.

COSS Exchange exit/drama keeps going.


I was reporting this in previous posts, i hope despite few people trying to shadow them at least one person got to the site on time and withdrew money. 1 saved wallet means it was worth making the post.

I actually removed COSS from exchanges list long ago way before they started doing clear problems.
2EdF5i8.png

You can read it here - https://fuk.io/no-kyc-exchanges-list/

Anyways after closing for 4 weeks, then claiming another company is buying them and all will be ok.

Today the story changed but of course not on their website itself just at some social network.

PBcUB4g.png

Copy pasting so this can be archived:

COSS was in the process of migrating to a third party white-label solution when we entered into acquisition discussions, where the management of technology and operations would have been further out-sourced.
Upon analysis of the third party platform, it was found to be inefficient for scaling purposes. It did not match industry standard matching and latency requirements. It would also make COSS entirely dependent on someone else who would hold access to the entire platform and could affect services at any time.
That process was therefore ended and the deal with the third party struck off.
We initiated the second phase of the takeover process earlier this week involving a full-scale audit of the platform and all wallets, user balances and trading histories — after completing the due legal processes in the first phase. These are crucial from the technology and regulatory compliance aspects, respectively.
What we have learned through this process is there are several discrepancies in the platform, mainly resulting out of mismanagement.
The exchange has undergone several changes in the form of patchwork done on the original platform which was acquired over a year ago from yet another third party.
The codebase and supporting data are currently being reviewed thoroughly as we begin work on putting the house back in order. Further in-depth audit of user accounts is also required which will allow us to honour your withdrawals as quickly and seamlessly as possible in the coming days.
The acquisition is contingent on the audits and the team at COSS meeting specific obligations during the handover. The audits and the related obligations are currently being addressed.
This agreement was put in place to ensure that the COSS user-base, the extended community, and the investors are safeguarded during and after the full transfer has been completed.
If everything is successful during this final phase of the agreement, the incoming owners will present themselves and their detailed roadmap for the future of COSS.
The original timeline has to be extended, unfortunately. We are working on issuing a more realistic timeline for the exchange to reopen shortly.
This update is our effort to address the state of current developments as transparently as possible.
We will continue to issue updates and timelines throughout the process. Thank you for your patience and understanding.

The most used comments from users below their texts are: "lol" "exit" "scam".

Judge yourselves.

DLfPA8o.png

Worth to note they were an exchange that doesnt need documents to trade. If you look for other places that work and are daily verified by me and others from community here is few:
For x50-x100 leverage trading you have BitMex or BaseFX or ByBit

Anf here are huge cryptocurrency pair exchanges:

  • Binance - top1 exchange in the world with best volumes and promotions
  • KuCoin - i would call it younger brother of Binance with many NEO and ETH pairs
  • BiBox - amazing China exchange, similar to other two above with different coins
  • BitMax - crazy overlooked by people china exchange with loads of good options
  • BitForex - currently top volume exchange for USDT pairs, really overlooked
  • Coinex - ETH BCH BTC EOS pairs

 


REAL WAYS TO MAKE PASSIVE INCOME FROM CRYPTOCURRENCY - DOWNLOAD FREE EBOOK NOW


kingscrown
kingscrown

bitcoin OG since 2011, showrunner of https://fuk.io crypto blog


Cryptocurrency News and Tricks
Cryptocurrency News and Tricks

Daily tips, tricks and infos about cryptocurrency space.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.