Crypto

The DoJ Shows an Interest in CoinGather Exchange Victims

Throughout the course of cryptocurrency history, many exchanges and trading platforms have come and gone. The demise of CoinGather has been largely undocumented, but affected users may have some recourse after all.

The CoinGather exchange has never generated a lot of attention in the competitive cryptocurrency exchange space.

The CoinGather Story Continues

When the company went dark in 2018, some people were left wondering what was going on exactly.

Eventually, it became apparent that the platform had been seized by the US Department of Justice.

This happened months after the exchange went offline and all of its operators disappeared into thin air.

For all intents and purposes, this is an exit scam in its purest form.

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Surprisingly, the US DOJ has

taken up this case and aims to get affected users their money back.

It would appear that several cryptocurrency wallets allegedly linked to this exchange have been found.

The big question is whether or not any of the affected users will come forward.

CoinGather generated very little trading volume during its existence, and most users who lost money may have given up on this company altogether.

It will be interesting to see how this case unfolds over the coming weeks and months. 

The CoinGather incident may set an interesting precedent for the rest of the industry.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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