cointiger.com is out of business - exit scam

[examplens]

If someone used this exchange, it's over now.

Recently, scam accusations have started to appear more and more often. I accidentally opened their site and it is no longer functional.

I hope that no one had a significant amount on this poor exchange.

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[Learn Bitcoin]

To be honest, I haven't even heard about their exchange. Was it a centralized exchange? If so, I don't understand why those people scam even though the CEX business is quite profitable. I have often heard that CEX manipulates their trading chart data to liquidate future traders' position which is another kind of scam but still profitable for those scammers!

I don't know the case about Cointiger, But I just searched their username and it seems coinmarketcap also warned their users about it. They have received several reports that the users of Coin Tiger were unable to withdraw their funds. If someone really wants to use CEX, they should go for the bigger ones like Binance and Kucoin.

[examplens]

To be honest, I haven't even heard about their exchange. Was it a centralized exchange? If so, I don't understand why those people scam even though the CEX business is quite profitable. I have often heard that CEX manipulates their trading chart data to liquidate future traders' position which is another kind of scam but still profitable for those scammers!

I registered there a few years ago because I wanted to sell an altcoin listed only on the Cointiger exchange. That's how I know about them, later I put them in a bookmark so I wouldn't forget they exist.
Yes, it is an ordinary CEX platform, or at least it looked like it.

Everything can be a reason for going out. It is enough for one of the important members to leave the team so that the whole business takes a completely different course.

[Stompix]

Going out of business is a nice way to put it, way to nice, they just closed the site, shut down their social media accounts, and disappeared into the morning mist, probably with enough funds to start a new venture under a new name.

I registered there a few years ago because I wanted to sell an altcoin listed only on the Cointiger exchange.

Oh, the old marketing scheme, let's have some coin that is listed only here so we can get people to use our exchange, I miss those times when every exchange had almost his own collection of coins.

Anyhow, searching a bit about them I found this:

CoinTiger, a moderately large exchange with millions of users has been down since Feb 2nd since announcing “upgrades” that may last “months.”

Weird that I never heard a thing about this in the last months till you posted this, maybe the millions of users were in the hundred range?

[Learn Bitcoin]

Everything can be a reason for going out. It is enough for one of the important members to leave the team so that the whole business takes a completely different course.

Yeah. It's possible. But I want to believe that people behind those platforms never leaves the market. They always make money from such business either by doing scam, or from the real business. Even if they close their website, I am sure the peoples behind those exchange will come up with new project and branding.

As far as I know, Most of the CEX team members are known and their identity is public. So, how did they scam actually? Why no law enforcement does not take any actions? I don't know even if they had any license or not. But, I guess should be punished.

[TomPluz]

Going out of business is a nice way to put it, way to nice, they just closed the site, shut down their social media accounts, and disappeared into the morning mist, probably with enough funds to start a new venture under a new name.

I think we can now officially say that Cointiger is gone for good and as to many people lost their money on that exchange is something that will still have to surface maybe later. Seems to me that even the tiger in that exchange is not strong enough to turn the tide against its existential problems. This is one of the biggest problems in the cryptocurrency business: platforms that  are not managed well and will eventually collapse for reasons only the people behind them can fathom. I am glad that I don't have an account in Cointiger and just like Coinsbit am so wary of this exchange...judging on the many complaints it was getting on its Telegram group. I am hoping that people will be so careful in selecting the CEX they want to trade crypto with as the risks can sometimes be astronomical.

[armanda90]

Seems cointiger is old exchange market but during joining bounty ever make deposit coins there and its happening last three four years ago,
I am not really interested with that exchange market because some coins listed low volume transaction and gap too high between buy and sell order.
I try to opening the cointiger website but looking privacy with my local IP address and tracking their twitter official hidden all tweet, not doubt this exchange got problem and become over but little disappointed if any one has fund in cointiger wallet because not way left to get back their fund.

[Learn Bitcoin]

I try to opening the cointiger website but looking privacy with my local IP address and tracking their twitter official hidden all tweet, not doubt this exchange got problem and become over but little disappointed if any one has fund in cointiger wallet because not way left to get back their fund.

As you can see, stompix already mentioned that their website has been down since 2nd February. No legit websites take that long to upgrade their system. It's been four months since no one was able to access their website (If I am not wrong). So, it is pretty much sure that they are not going to continue their business and they scam their users.

I am sorry for their users who have funds there. It it understandable why people use these exchanges. Because maybe they have listed some coins that is not listed anywhere else. This is the most popular way exchanges get new users.

[Stompix]

~

I think we can now officially say that Cointiger is gone for good and as to many people lost their money on that exchange is something that will still have to surface maybe later. Seems to me that even the tiger in that exchange is not strong enough to turn the tide against its existential problems. This is one of the biggest problems in the cryptocurrency business: platforms that  are not managed well and will eventually collapse for reasons only the people behind them can fathom.

Well, that's the downside of this, too many people are trusting companies that operate outside their country, that are uninsured, that have no assets with tons of money, you can hate banks how much you want but at least you have a sum insured and you still have someone to talk about face to face, with these crazy exchanges you wake up and everything is gone and nobody knows a thing.

Why no law enforcement does not take any actions? I don't know even if they had any license or not. But, I guess should be punished.

Law enforcement can take action only if there is an active crime or a court order.

So first you need to have people taking action and filing reports, how many will do so for a hundred or so dollars, you need to rely on the ones with large sums, now if they find out the operators are in different countries and they do the math on costs for the lawsuit, the chance of getting anything back and so on there will be very few left and so the things go on. If it's an offshore company registered on some island owned by another company opened by one guy in either Malta and Lithuania good luck with the lawsuits.

[bayu7adi]

I once sold altcoins on cointiger, and I forgot whether I left a small balance there or not. It seems like there's no hope of checking it anymore, because I checked the website, it really can't be accessed anymore. In the past, this exchange was not well-known, so they may have felt unable to compete with other exchanges and chose to run away from the competition.

The little information I know is that Cointiger is a CEX (Centralized Exchange) and the withdrawal and deposit process is quite fast. Now I don't actively use the cointiger exchange anymore, so this just reminds me of my assets on cointiger, the amount is probably no more than $15, so it doesn't really bother me. because I'm sure there are other victims who have bigger losses (possibly) when this exchange decides to close its services unilaterally.

[Vx1]

I used to trade on this Exchange and everything went smoothly, and I don't know what has happened today maybe everything has changed.
Actually this is not my favorite exchange either, I trade here because there is one of the Bounty campaigns that I participate in and the Altcoins are released on this Exchange.
If there is news about Cointiger's bankruptcy, we really have to leave it.

[philipma1957]

To be honest, I haven't even heard about their exchange. Was it a centralized exchange? If so, I don't understand why those people scam even though the CEX business is quite profitable. I have often heard that CEX manipulates their trading chart data to liquidate future traders' position which is another kind of scam but still profitable for those scammers!

I registered there a few years ago because I wanted to sell an altcoin listed only on the Cointiger exchange. That's how I know about them, later I put them in a bookmark so I wouldn't forget they exist.
Yes, it is an ordinary CEX platform, or at least it looked like it.

Everything can be a reason for going out. It is enough for one of the important members to leave the team so that the whole business takes a completely different course.

Yeah I use tradeogre because they handle grin and xelis coins.

I move coins in and out in small amounts and do not let large sums lay there.

[yhiaali3]

I registered for Cointiger a year or two ago, I don't remember exactly, I got a coin from one of the airdrops that was listed there, I registered and then sold the coin and withdrew USDT with no problems, also it didn't require KYC.

They didn't seem like scams at the time, but they were definitely pretending everything was fine until they had their chance to steal users' money, shut down the exchange, and run away. This is really unfortunate.

[examplens]

I registered for Cointiger a year or two ago, I don't remember exactly, I got a coin from one of the airdrops that was listed there, I registered and then sold the coin and withdrew USDT with no problems, also it didn't require KYC.

They didn't seem like scams at the time, but they were definitely pretending everything was fine until they had their chance to steal users' money, shut down the exchange, and run away. This is really unfortunate.

At the time Cointiger started, mandatory KYC was almost nowhere, not even on Binance. Now is the time for rigorous punishments for those who run the exchange business (CEX mostly) and I believe that one of the motives for shutting down was the legality of their service.

It is always questionable if someone is already going out of business, why he decides to just leave with the funds of his users instead of allowing everyone to withdraw their funds.