Although we have warned people about various Bitcoin scams in the past, people are still surprised when these companies stop paying their users. Coince used to have a lot of appeal, as they advertised on some of the biggest crypto news sites. But as was to be expected, their pyramid scheme could not go on forever.
Curtain Call For Coince Users
Any Ponzi scheme in the Bitcoin world will run out of money sooner rather than later. In the case of Coince, this has happened a bit sooner than users expected, although user payouts have come to a halt not too long ago. Or to be more precise, most of the users are no longer receiving payouts right now.
For everyone who did some prior research before investing in Coince, it was evident this investment scheme would not see a very long life. The address listed for Coince is utterly fake, and their promises returns are impossible to guarantee. No one can earn a fixed 3% return for 60 days without setbacks.
To make matters even worse, the website has increased the average withdrawal time to 48 hours all of a sudden. Granted, any company can change their withdrawal times whenever they see the need to do so. But it is a very worrying site for platforms where users hope to see daily returns granted to them.
But there is more, as users are complaining they have not received a Coince payout for several days now. Balances are still being updated, as this process is complete automated. Adding fictitious numbers to a balance sheet does not take all that much effort, and it creates the illusion of a legitimate business.
For now, it seems safe to say Coince is dead, and users will not see their money back anytime soon. Some scarce withdrawal requests might be honored moving forward, but it seems the end is very near. For users who want to move funds out, now would be the best time to do so.
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