The founder of the cryptocurrency exchange Cobinhood and Dexon startup Popo Chen in a letter to the community explained the situation around the platform, which was accused in exit scam.
So, Chen stressed that the exchange and startup continue to work, and there is no question of any exit scam.
There was no exit scam. Our company has been through a series of unfortunate incidents, causing COBINHOOD Ltd. announced its suspension on Monday, May 20th. Its mother company Blocktopia, Inc. then formed a smaller team (including me) to take over the daily operations that used to run by CONBINHOOD Ltd.
It is noteworthy that earlier, as the parent company of the exchange was Cobbingham Digital Finance Co. Ltd, not Blocktopia at all.
At the same time, Chen notes that “there was no dump of DXN tokens,” and the Dexon Foundation, co-founders and team members still own all the assets.
The founder connects the appearance of rumors about the exit scam exchange with the fact that shortly before the declaration of bankruptcy of Cobbingham Digital Finance, Dexon completed the ICO, during which it managed to raise $ 3.5 million.
The parent company of the exchange announced the start of the liquidation procedure last week. Then it seemed strange to some users of the community that this happened a month after the completion of the ICO.
Before the events unfolded, experts rated the stock exchange as one of the safest cryptocurrency trading floors.