Two months ago, I wrote an article about the Tribal Token presale scam on CoinList. In case you missed it, you can still read my article here: The Tribal Token Presale Scam On Coinlist

The article highlighted the substantial losses suffered by investors. Despite initial promises, CoinList has not yet delivered the Tribal tokens from the presale nor recovered the funds, leaving many users frustrated and disappointed.

CoinList’s Recent Announcement

CoinList recently released a statement addressing the ongoing issues with the Tribal Token presale. They clarified that the delay in token distribution was unilaterally decided by Tribal Crypto, and CoinList has not agreed to any further delays. CoinList is exploring potential legal remedies to address the situation, emphasizing that they are not in control of the token delivery and expressing disappointment in Tribal Crypto's lack of action and communication.

Let me simplify the announcement made by CoinList: "Due to the Tribal team's fault, we are unable to deliver the tokens. Their team has disappeared but we will see what we can do. Please wait until you receive further communication from us. Until then remain quiet, at least for the next two years."

Of course, investors are not happy about the attitude of CoinList and the announcement of further delays. 

Community Reactions

You might guess it. The reaction from the community has been overwhelmingly negative. Many users have voiced their frustration and distrust towards CoinList. One user stated, "This is unacceptable. We trusted CoinList to vet projects properly, and now we're left in the dark with our investments at risk." Another added, "The lack of transparency and the continuous delays are highly suspicious. CoinList needs to take responsibility and compensate the affected investors." Under every single tweet from CoinList, there is a shitstorm. 

Other Suspicious Activities on CoinList

In addition to the Tribal Token issue, there have been reports of other suspicious activities on CoinList - several red flags. Users on social media platforms have reported funds disappearing from their accounts without explanation. For instance, there have been multiple incidents where deposits and withdrawals have been temporarily disabled, causing significant inconvenience and concern among users. Others are required to undergo the KYC process again, which then fails and results in completely losing access to the funds on the exchange.

Moreover, CoinList has faced different technical issues that have exacerbated the situation. Users have reported problems with $USD deposits and withdrawals due to an ongoing system upgrade and issues with banking partners. This has further shaken the confidence of investors who rely on timely access to their funds.

There was even a very strange incident on Twitter when a user complained via a tweet to the CEO of CoinList that they have the worst customer support in the whole crypto industry which is probably true, at least from my experience.

@rargulati, the CEO of CoinList replied to the user: "We don’t quite have the resources binance has, but we’ll get there. I think we’re good, but ofc not perfect, and have a ways to go. What’s your ticket id?"

The user responded happily: "Thanks for your quick response here is my ticket (..) Also please add live support at coinlist, In the fast-moving world customers can’t wait too long."

The CEO of CoinList solved the ticket in his very own way. He closed the account in the blink of an eye: "After this tweet rather than verifying my account CoinList banned my account (Reason prohibited use) but as per my knowledge I not done any unlawful activity So please give me a clear answer as why my account banned You take my tweet as an attack?"

My Final Conclusion

Incidents like this are red flags and the Tribal Token Scam only seems to be the tip of an iceberg. The ongoing issues with the Tribal Token presale and other suspicious activities on CoinList highlight the need for greater transparency and accountability within the platform. Investors are urged to remain cautious and consider alternative exchanges for future token presales. It remains to be seen how CoinList will resolve these issues, probably never, but one thing is clear: the trust of their user base has been severely compromised. Better stay safe than sorry. 

For those affected, keeping a close eye on updates from CoinList and exploring potential legal avenues may be necessary. I believe that CoinList is doing it exactly like the Tribal Scammer Team. CoinList is delaying and playing for time in the hope of being able to continue as long as possible and defraud users. At the same time, it is also possible that CoinList is one of those crypto exchanges that is already secretly insolvent. 

One thing is for sure - I will never use CoinList again for whatever because they are not solving the Tribal Issue and delay further. For future token presales I will stick to those trusted ones on platforms like Binance and KuCoin. 

If, for some reason, you haven't registered on Binance yet to participate in legit token presales, feel free to use my referral link with the invitation code E3PGAJCE to sign up. Using it can save on trading fees for every Binance trade, creating a win-win situation for both of us.

What are your thoughts on this issue? Have you used CoinList yourself, and if so, what are your experiences? Please share in a comment. 

Thank you for reading! If you enjoy this type of content, follow me on Publish0x for more and if you like, you can also follow me on X/Twitter and Medium.