Coinstore Warning Review | Is Coinstore a Scam? An In-Depth Study of Lack of Regulation, Withdrawal Risks, and the Prevalence of "Fake Coins"

1. Platform Background and Development History

Coinstore (official website: coinstore.com ) was founded in 2020 and claims to be headquartered in Singapore. It is actively expanding in India, Indonesia, Dubai, and other regions. Its promotional highlights include:

• More than 3 million users worldwide

• Covering 50+ countries and regions

• The average daily trading volume is billions of US dollars

• Provide IEO, Launchpad, financial management and contract services

However, several industry media outlets and community users have pointed out that Coinstore has serious compliance loopholes, and that its trading volume and market activity are significantly inflated.

2. Company Registration and Compliance Investigation

1. Registration Entity

• Coinstore claims to be registered in Singapore, but its licensing information is not found in the Singapore MAS database.

• It operates in the Indian and Indonesian markets, but local regulatory agencies (such as India's RBI and Indonesia's OJK) have no record of Coinstore's legal license.

2. Domain Name and Technology

• The domain name coinstore.com was registered in 1999 and was initially used for other businesses. It was acquired and activated in 2020.

• Registrants are anonymous and operating entities lack transparency.

3. Contact Information

• The official website provides a customer service email address and Telegram group, but lacks a physical office address.

• Most users reported that customer service responded slowly or even lost contact completely.

III. Regulatory Status and False Compliance

1. No regulatory license

• No records of Coinstore were found in the FCA, SEC, CySEC, MAS and other databases.

2. False compliance advertising

• Coinstore has repeatedly claimed to be "operating in compliance with regulations," but this lacks any supporting documentation or numbers.

3. Lack of fund protection

• No Proof of Reserves provided.

• There is no insurance fund or investor compensation mechanism.

IV. User Complaints and Rights Protection Cases

1. Withdrawals blocked

• On Trustpilot , a large number of users complained that their deposits were normal, but their withdrawals were rejected or indefinitely delayed.

2. Air coins are rampant

• Reddit community users reported that Coinstore listed a large number of high-risk tokens, which saw sharp fluctuations in price in the short term, and suspected manipulation by market makers (see Reddit CryptoScams ).

3. Customer service lost contact

• The FX110 Exposure Area ( FX110 Exposure Cases ) records cases where no one responded to users’ rights protection efforts.

5. Third-party media and industry evaluation

• WikiFX : Risk score < 2/10, marked as “Unregulated”.

• FX110 : Multiple rights protection cases involving withdrawal freezes and the listing of virtual coins.

• Cointelegraph : Coinstore reportedly expanding in India, but did not confirm its regulatory qualifications.

• Community reputation : Telegram and Reddit users call it a "high-risk speculation site."

VI. Financial Risk and Operation Model

1. Fake trading volume : creating the illusion of prosperity by inflating trading volume.

2. Withdrawal barriers : Funds are frozen under the pretext of risk control or maintenance.

3. Air coins are used to cheat investors : projects are quickly launched after collecting listing fees, causing losses to investors.

7. Industry Comparison

8. BrokerHiveX Risk Dimension Scoring (including reasons)

• Compliance: 1/10 → No regulatory filings.

• Transparency: 2/10 → The subject is blurry and the office address is missing.

• User Experience: 2/10 → Complaints regarding withdrawal failures.

• Fund security: 1/10 → No proof of reserves, extremely high risk.

• Public Reputation: 2/10 → Negative feedback is concentrated on Trustpilot and Reddit.

👉Overall Rating: 1.6/10 (Very High Risk)

IX. Rights Protection and Reporting Suggestions

1. Save evidence : deposit records, withdrawal screenshots, customer service tickets.

2. Reporting channels :

• MAS Complaint Portal

• FCA Complaints Platform

• SEC Reporting Page

3. Public exposure : Speak out on platforms such as Trustpilot, Reddit, and FX110.

10. Conclusion and Investment Warning

Coinstore (coinstore.com) is an unregulated, high-risk exchange :

• Fake trading volumes;

• There are frequent cases of failed withdrawals;

• Air coins are rampant;

• The community has a very bad reputation.

📌Investment Warning :
Stay away from Coinstore to avoid serious loss of funds.