Review on CoinZest by Naomi Ilani
The Reason For The Close Down Of CoinZest Exchange Platform Still Remains Unknown
SSome occurrences in life makes so many stories in relation to that topic to be released thereby making it hard to identify the authentic story and to separate it from the bag of lies. Many of these has happened in our physical and personal lives and the same things happens in the blockchain network, the exchange industry to be precised. The fact that a company shuts down isn't a new thing to the blockchain world, as a matter of fact, many great companies in the past are no where to be found presently and this has made it a usual thing to traders to find some companies that was doing great in the past going bankrupt. This bankruptcy might be caused by hackers who log into the company's accounts and steal lots of funds that refunding these fund to their users would seem impossible, thereby causing the company to shut down. Other times, it might just be a personal decision to stop their services and the CEO of the company makes the announcement. All these seems a bit fair a reason for a company to shut down unlike the case of the CoinZest exchange platform.
CoinZest exchange platform when it was active was a South Korean registered and regulated exchange platform and began operation in the year 2018. This exchange platform achieved great miles and can be proven by the fact that as at 2019 or thereabout, they were listed amongst the top three exchanges in South Korea. The fact that South Korea is among the most active countries when it comes to trading and good use of cryptocurrencies makes the CoinZest exchange platform one of the best as at that time. Being the best never guaranteed their dominance over the blockchain network for long, as it is usually said that "it is easier to attain than to maintain success." That was exactly what happened to the CoinZest exchange platform. They attained the success of being amongst the most popular and one of the best but that position never last for too long as they are currently no where to be found, haven being shut down completely. The most interesting part of this their "shut down story" is the fact that there have been controversy as to the cause of shutting down completely. The fact that the reason for shutting down remains a mystery is still surprising as most people, with myself included find it as a shocking discovery. This has made many people come up with assumed reasons for the company's mysterious shut down but the question remains: which one of them is true? According to a recent article on the web, the writer said the reason for CoinZest exchange platform shut down was because of an airdrop it made. The exchange company which was originally meant to airdrop WGT mistakenly airdropped Bitcoin and other valuable cryptocurrencies and this made the company run to a loss of about 5 million dollars. This story is somehow shocking and funny. How can a company mistakenly airdrop valuable cryptocurrencies instead of the opposite? This still remains a shocking story to me. Other reports has it that the company just stopped operations and never gave reasons for this. I actually don't believe this because no exchange platform can do that to their users, not to talk of one of the most popular one as at that time. Amidst all these confusion, the question still remains "why did CoinZest exchange platform close down?" And most importantly, traders out there should be careful of having anything to do with anybody talking about the exchange platform because it is definitely a scam.
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Pros
- I still don't find anything positive about a company that is not in existence
Cons
- The reason for the shut down of the company is unknown
- I'm pretty sure it affected lots of traders due to how popular the exchange platform was before it went into exile
