CoinRoom Goes Boom - Revision history

Azoundria at 19:18, 1 May 2023

2023-05-01T19:18:32Z

← Older revision		Revision as of 13:18, 1 May 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/coinroomgoesboom.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/coinroomgoesboom.php}}
	{{Unattributed Sources}}		{{Unattributed Sources}}

	The Coinroom website remains online and reports of the ongoing bankruptcy, which has been an ordeal lasting many months and continuing. It appears that the entire operation may have been set up this way from the beginning, and the lack of any auditing or transparency into the funds means obviously nobody knows what’s going on.		The Coinroom website remains online and reports of the ongoing bankruptcy, which has been an ordeal lasting many months and continuing. It appears that the entire operation may have been set up this way from the beginning, and the lack of any auditing or transparency into the funds means obviously nobody knows what’s going on.

	This exchange or platform is based in Poland, or the incident targeted people primarily in Poland.		This exchange or platform is based in Poland, or the incident targeted people primarily in Poland.<ref name="cointelegraph-114" /><ref name="ccn-119" /><ref name="crowdfundinsider-120" /><ref name="reddit-121" /><ref name="fxstreet-122" /><ref name="dashnews-136" /><ref name="dashnews-137" /><ref name="bitcoinik-139" /><ref name="slowmisthacked-1160" /><ref name="cryptoxdirectory-2276" />
	<ref name="cointelegraph-114" /><ref name="ccn-119" /><ref name="crowdfundinsider-120" /><ref name="reddit-121" /><ref name="fxstreet-122" /><ref name="dashnews-136" /><ref name="dashnews-137" /><ref name="bitcoinik-139" /><ref name="slowmisthacked-1160" /><ref name="cryptoxdirectory-2276" />

	== About CoinRoom ==		== About CoinRoom ==
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	!Description		!Description
	\|-		\|-
	\|May 1st, 2019 12:01:21 AM		\|May 1st, 2019 12:01:21 AM MDT
	\|Main Event		\|Main Event
	\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
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	\|		\|
	\|}		\|}

			== Technical Details ==
			This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

	== Total Amount Lost ==		== Total Amount Lost ==
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	== Ongoing Developments ==		== Ongoing Developments ==
	What parts of this case are still remaining to be concluded?		What parts of this case are still remaining to be concluded?
			== General Prevention Policies ==
			Coming soon.
			== Individual Prevention Policies ==
			{{Prevention:Individuals:Placeholder}}

			{{Prevention:Individuals:End}}

			== Platform Prevention Policies ==
			{{Prevention:Platforms:Placeholder}}

			{{Prevention:Platforms:End}}

			== Regulatory Prevention Policies ==
			{{Prevention:Regulators:Placeholder}}

	== Prevention ~~Policies ==~~		{{Prevention:Regulators:End}}
	~~Coming soon.~~

	== References ==		== References ==
	<references><ref name="cointelegraph-114">[https://cointelegraph.com/news/report-polish-exchange-shuts-down-and-disappears-with-customers-funds Report: Polish Exchange Shuts Down and Disappears With Customers Funds] (Feb 22, 2020)</ref>		<references><ref name="cointelegraph-114">[https://cointelegraph.com/news/report-polish-exchange-shuts-down-and-disappears-with-customers-funds Report: Polish Exchange Shuts Down and Disappears With Customers Funds] (Feb 23, 2020)</ref>

	<ref name="ccn-119">[https://www.ccn.com/polish-cryptocurrency-exchange-coinroom-exit-scams-with-customer-funds/ Polish Cryptocurrency Exchange Coinroom Exit Scams With Customer Funds] (Feb 22, 2020)</ref>		<ref name="ccn-119">[https://www.ccn.com/polish-cryptocurrency-exchange-coinroom-exit-scams-with-customer-funds/ Polish Cryptocurrency Exchange Coinroom Exit Scams With Customer Funds] (Feb 23, 2020)</ref>

	<ref name="crowdfundinsider-120">[https://www.crowdfundinsider.com/2019/06/148127-exit-scam-polish-coinroom-exchange-goes-dark-funds-gone/ Exit Scam: Polish Coinroom Exchange Goes Dark, Funds Gone] (Feb 22, 2020)</ref>		<ref name="crowdfundinsider-120">[https://www.crowdfundinsider.com/2019/06/148127-exit-scam-polish-coinroom-exchange-goes-dark-funds-gone/ Exit Scam: Polish Coinroom Exchange Goes Dark, Funds Gone] (Feb 23, 2020)</ref>

	<ref name="reddit-121">[https://www.reddit.com/r/CryptoCurrency/comments/b8vh27/coinroomcom_ceases_to_exist/ Coinroom.com ceases to exist! : CryptoCurrency] (Feb 22, 2020)</ref>		<ref name="reddit-121">[https://www.reddit.com/r/CryptoCurrency/comments/b8vh27/coinroomcom_ceases_to_exist/ Coinroom.com ceases to exist! : CryptoCurrency] (Feb 23, 2020)</ref>

	<ref name="fxstreet-122">[https://www.fxstreet.com/cryptocurrencies/news/large-polish-cryptocurrency-exchange-coinroom-committed-an-exit-scam-on-thousands-of-users-201906071607 Large Polish cryptocurrency exchange Coinroom committed an exit scam on thousands of users] (Feb 22, 2020)</ref>		<ref name="fxstreet-122">[https://www.fxstreet.com/cryptocurrencies/news/large-polish-cryptocurrency-exchange-coinroom-committed-an-exit-scam-on-thousands-of-users-201906071607 Large Polish cryptocurrency exchange Coinroom committed an exit scam on thousands of users] (Feb 23, 2020)</ref>

	<ref name="dashnews-136">[https://dashnews.org/burundi-bans-cryptocurrency-trading-citing-lack-of-consumer-protection/ Burundi Bans Cryptocurrency Trading Citing Lack of Consumer Protection] (Feb 22, 2020)</ref>		<ref name="dashnews-136">[https://dashnews.org/burundi-bans-cryptocurrency-trading-citing-lack-of-consumer-protection/ Burundi Bans Cryptocurrency Trading Citing Lack of Consumer Protection] (Feb 23, 2020)</ref>

	<ref name="dashnews-137">[https://dashnews.org/coinroom-exchange-vanishes-reveals-dash-instantsend-advantage-for-traders/ Coinroom Exchange Vanishes, Reveals Dash InstantSend Advantage for Traders] (Feb 22, 2020)</ref>		<ref name="dashnews-137">[https://dashnews.org/coinroom-exchange-vanishes-reveals-dash-instantsend-advantage-for-traders/ Coinroom Exchange Vanishes, Reveals Dash InstantSend Advantage for Traders] (Feb 23, 2020)</ref>

	<ref name="bitcoinik-139">[https://bitcoinik.com/coinroom-exchange-fled-away-by-taking-all-users-funds/ Coinroom Exchange Fled Away By Taking All Users Funds - Bitcoinik] (Feb 23, 2020)</ref>		<ref name="bitcoinik-139">[https://bitcoinik.com/coinroom-exchange-fled-away-by-taking-all-users-funds/ Coinroom Exchange Fled Away By Taking All Users Funds - Bitcoinik] (Feb 24, 2020)</ref>

	<ref name="slowmisthacked-1160">[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25, 2021)</ref>		<ref name="slowmisthacked-1160">[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 26, 2021)</ref>

	<ref name="cryptoxdirectory-2276">[https://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 7, 2021)</ref></references>		<ref name="cryptoxdirectory-2276">[https://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 8, 2021)</ref></references>

Azoundria at 06:00, 21 February 2023

2023-02-21T06:00:48Z

← Older revision		Revision as of 00:00, 21 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/coinroomgoesboom.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/coinroomgoesboom.php}}
			{{Unattributed Sources}}

	The Coinroom website remains online and reports of the ongoing bankruptcy, which has been an ordeal lasting many months and continuing. It appears that the entire operation may have been set up this way from the beginning, and the lack of any auditing or transparency into the funds means obviously nobody knows what’s going on.		The Coinroom website remains online and reports of the ongoing bankruptcy, which has been an ordeal lasting many months and continuing. It appears that the entire operation may have been set up this way from the beginning, and the lack of any auditing or transparency into the funds means obviously nobody knows what’s going on.

	This exchange or platform is based in Poland, or the incident targeted people primarily in Poland.		This exchange or platform is based in Poland, or the incident targeted people primarily in Poland.
			<ref name="cointelegraph-114" /><ref name="ccn-119" /><ref name="crowdfundinsider-120" /><ref name="reddit-121" /><ref name="fxstreet-122" /><ref name="dashnews-136" /><ref name="dashnews-137" /><ref name="bitcoinik-139" /><ref name="slowmisthacked-1160" /><ref name="cryptoxdirectory-2276" />

	== About CoinRoom ==		== About CoinRoom ==
Line 23:		Line 25:

	Don't Include:		Don't Include:

	* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.		* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
	* Anything that wasn't reasonably knowable at the time of the event.		* Anything that wasn't reasonably knowable at the time of the event.
Line 45:		Line 46:
	\|-		\|-
	\|May 1st, 2019 12:01:21 AM		\|May 1st, 2019 12:01:21 AM
	\|~~First~~ Event		\|Main Event
	\|~~This is an expanded~~ description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
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	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~It is unknown how much was~~ recovered.		There do not appear to have been any funds recovered in this case.

	What funds were recovered? What funds were reimbursed for those affected users?		What funds were recovered? What funds were reimbursed for those affected users?
Line 80:		Line 77:

	== References ==		== References ==
	[https://cointelegraph.com/news/report-polish-exchange-shuts-down-and-disappears-with-customers-funds Report: Polish Exchange Shuts Down and Disappears With Customers Funds] (Feb 22)		<references><ref name="cointelegraph-114">[https://cointelegraph.com/news/report-polish-exchange-shuts-down-and-disappears-with-customers-funds Report: Polish Exchange Shuts Down and Disappears With Customers Funds] (Feb 22, 2020)</ref>

	[https://www.ccn.com/polish-cryptocurrency-exchange-coinroom-exit-scams-with-customer-funds/ Polish Cryptocurrency Exchange Coinroom Exit Scams With Customer Funds] (Feb 22)		<ref name="ccn-119">[https://www.ccn.com/polish-cryptocurrency-exchange-coinroom-exit-scams-with-customer-funds/ Polish Cryptocurrency Exchange Coinroom Exit Scams With Customer Funds] (Feb 22, 2020)</ref>

	[https://www.crowdfundinsider.com/2019/06/148127-exit-scam-polish-coinroom-exchange-goes-dark-funds-gone/ Exit Scam: Polish Coinroom Exchange Goes Dark, Funds Gone] (Feb 22)		<ref name="crowdfundinsider-120">[https://www.crowdfundinsider.com/2019/06/148127-exit-scam-polish-coinroom-exchange-goes-dark-funds-gone/ Exit Scam: Polish Coinroom Exchange Goes Dark, Funds Gone] (Feb 22, 2020)</ref>

	[https://www.reddit.com/r/CryptoCurrency/comments/b8vh27/coinroomcom_ceases_to_exist/ Coinroom.com ceases to exist! : CryptoCurrency] (Feb 22)		<ref name="reddit-121">[https://www.reddit.com/r/CryptoCurrency/comments/b8vh27/coinroomcom_ceases_to_exist/ Coinroom.com ceases to exist! : CryptoCurrency] (Feb 22, 2020)</ref>

	[https://www.fxstreet.com/cryptocurrencies/news/large-polish-cryptocurrency-exchange-coinroom-committed-an-exit-scam-on-thousands-of-users-201906071607 Large Polish cryptocurrency exchange Coinroom committed an exit scam on thousands of users] (Feb 22)		<ref name="fxstreet-122">[https://www.fxstreet.com/cryptocurrencies/news/large-polish-cryptocurrency-exchange-coinroom-committed-an-exit-scam-on-thousands-of-users-201906071607 Large Polish cryptocurrency exchange Coinroom committed an exit scam on thousands of users] (Feb 22, 2020)</ref>

	[https://dashnews.org/burundi-bans-cryptocurrency-trading-citing-lack-of-consumer-protection/ Burundi Bans Cryptocurrency Trading Citing Lack of Consumer Protection] (Feb 22)		<ref name="dashnews-136">[https://dashnews.org/burundi-bans-cryptocurrency-trading-citing-lack-of-consumer-protection/ Burundi Bans Cryptocurrency Trading Citing Lack of Consumer Protection] (Feb 22, 2020)</ref>

	[https://dashnews.org/coinroom-exchange-vanishes-reveals-dash-instantsend-advantage-for-traders/ Coinroom Exchange Vanishes, Reveals Dash InstantSend Advantage for Traders] (Feb 22)		<ref name="dashnews-137">[https://dashnews.org/coinroom-exchange-vanishes-reveals-dash-instantsend-advantage-for-traders/ Coinroom Exchange Vanishes, Reveals Dash InstantSend Advantage for Traders] (Feb 22, 2020)</ref>

	[https://bitcoinik.com/coinroom-exchange-fled-away-by-taking-all-users-funds/ Coinroom Exchange Fled Away By Taking All Users Funds - Bitcoinik] (Feb 23)		<ref name="bitcoinik-139">[https://bitcoinik.com/coinroom-exchange-fled-away-by-taking-all-users-funds/ Coinroom Exchange Fled Away By Taking All Users Funds - Bitcoinik] (Feb 23, 2020)</ref>

	[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25)		<ref name="slowmisthacked-1160">[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25, 2021)</ref>

	[https://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 7)		<ref name="cryptoxdirectory-2276">[https://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 7, 2021)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/coinroomgoesboom.php}} The Coinroom website remains online and reports of the ongoing bankruptcy, which has been an ordeal lasting many months and continuing. It appears that the entire operation may have been set up this way from the beginning, and the lack of any auditing or transparency into the funds means obviously nobody knows what’s going on. This exchange or platform is based in Poland,..."

2023-01-25T03:02:11Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/coinroomgoesboom.php}} The Coinroom website remains online and reports of the ongoing bankruptcy, which has been an ordeal lasting many months and continuing. It appears that the entire operation may have been set up this way from the beginning, and the lack of any auditing or transparency into the funds means obviously nobody knows what’s going on. This exchange or platform is based in Poland,..."

New page

{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/coinroomgoesboom.php}}

The Coinroom website remains online and reports of the ongoing bankruptcy, which has been an ordeal lasting many months and continuing. It appears that the entire operation may have been set up this way from the beginning, and the lack of any auditing or transparency into the funds means obviously nobody knows what’s going on.

This exchange or platform is based in Poland, or the incident targeted people primarily in Poland.

== About CoinRoom ==
“Polish cryptocurrency exchange Coinroom has reportedly shut down its operations and disappeared with customer funds, local business news outlet money.pl reported on May 31.” “Before ceasing its operations, Coinroom reportedly sent emails to its customers, containing information about contract terminations. Coiroom customers had only one day to withdraw their money, which was in accordance with Coinroom regulations signed by users. However, customers reportedly claim that some of them got only part of the money, while most of them did not receive their funds back at all.” “Even though he promised a resolution for the stuck deposits by April 19, customers were unable to get in contact or find any contact information for Tomasz Zbigniew Wiewior, the director of the company.” “Polish news site Money.pl ascertained that the President of the defunct exchange, Tomasz Zbigniew Wiewióra relocated to Estonia to open another business.” “After receiving the documentation from the accountant, analyzing the database, we were able to prepare and complete and file for bankruptcy with the option of liquidating the company's assets.”

This exchange or platform is based in Poland, or the incident targeted people primarily in Poland.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

* Known history of when and how the service was started.
* What problems does the company or service claim to solve?
* What marketing materials were used by the firm or business?
* Audits performed, and excerpts that may have been included.
* Business registration documents shown (fake or legitimate).
* How were people recruited to participate?
* Public warnings and announcements prior to the event.

Don't Include:

* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
* Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
{| class="wikitable"
|+Key Event Timeline - CoinRoom Goes Boom
!Date
!Event
!Description
|-
|May 1st, 2019 12:01:21 AM
|First Event
|This is an expanded description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|-
|
|
|
|}

== Total Amount Lost ==
The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

== Immediate Reactions ==
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

== Ultimate Outcome ==
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

== Total Amount Recovered ==
It is unknown how much was recovered.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?

== Prevention Policies ==
Coming soon.

== References ==
[https://cointelegraph.com/news/report-polish-exchange-shuts-down-and-disappears-with-customers-funds Report: Polish Exchange Shuts Down and Disappears With Customers Funds] (Feb 22)

[https://www.ccn.com/polish-cryptocurrency-exchange-coinroom-exit-scams-with-customer-funds/ Polish Cryptocurrency Exchange Coinroom Exit Scams With Customer Funds] (Feb 22)

[https://www.crowdfundinsider.com/2019/06/148127-exit-scam-polish-coinroom-exchange-goes-dark-funds-gone/ Exit Scam: Polish Coinroom Exchange Goes Dark, Funds Gone] (Feb 22)

[https://www.reddit.com/r/CryptoCurrency/comments/b8vh27/coinroomcom_ceases_to_exist/ Coinroom.com ceases to exist! : CryptoCurrency] (Feb 22)

[https://www.fxstreet.com/cryptocurrencies/news/large-polish-cryptocurrency-exchange-coinroom-committed-an-exit-scam-on-thousands-of-users-201906071607 Large Polish cryptocurrency exchange Coinroom committed an exit scam on thousands of users] (Feb 22)

[https://dashnews.org/burundi-bans-cryptocurrency-trading-citing-lack-of-consumer-protection/ Burundi Bans Cryptocurrency Trading Citing Lack of Consumer Protection] (Feb 22)

[https://dashnews.org/coinroom-exchange-vanishes-reveals-dash-instantsend-advantage-for-traders/ Coinroom Exchange Vanishes, Reveals Dash InstantSend Advantage for Traders] (Feb 22)

[https://bitcoinik.com/coinroom-exchange-fled-away-by-taking-all-users-funds/ Coinroom Exchange Fled Away By Taking All Users Funds - Bitcoinik] (Feb 23)

[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25)

[https://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 7)